Signal intelligence Market Consumption And Demand, Sales Forecast 2020 to 2027
A New Study Title “Signal intelligence Market Size, Status And Forecast 2027” Has Been Featured On Market Research Future.
Signal intelligence (SIGINT) accumulates intel from various sources such as foreign instrumentation, electronic intelligence, and communication intelligence. It is used in enhancing and fortifying the defenses in public places. The timely intelligence for making informed decisions by military commanders and national policy makers can drive the importance of SIGINT. The global signal intelligence market report by Market Research Future (MRFR) covers trends, opportunities, drivers, and challenges for the period of 2020 to 2023 (forecast period). The COVID-19 impact and its implications for the industry are duly noted in the report.
The global signal intelligence market is estimated to reach a market value of USD 15.81 billion by 2023 growing at a CAGR of 5.32% during the forecast period. It was valued at USD 11.85 billion in 2017. Rise of terrorist incidents and crime rates can compel the need for signal intelligence among nations. Increased government spending for enhancing military infrastructure and geopolitical tensions can bolster its demand significantly. Recently, the Chinese government launched 3 satellites into orbit for detecting ships by their radio transmission.
Development of artificial intelligence and deployment of drones with payloads are opportunities for the market. Rising adoption of drones for surveillance and policing by law enforcement agencies can drive the demand in signal intelligence. Drones with high altitude capacity are being deployed in Canada, France, and the U.S. In order to counter the use of drones, the Israeli government has implemented the use of Drone Dome, a system employing signal intelligence and radar for identifying their targets in congested areas and disabling them from far.
But high manufacturing costs of signal intelligence can impede market growth.
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By type, the market has been segmented into foreign instrumentation signal intelligence (FISINT), electronics intelligence, and communication intelligence.
By vertical, the market has been classified into naval, land-based, airborne, space, and others.
At present, North America dominates the global signal intelligence market due to high investment and support by the government for the developments in the military & defense sector in the region. The increasing incidence of terrorist attacks, especially in the U.S., has developed the need for more advanced and secured intelligence solutions. The heavy military spending and military support for less privileged nations by the U.S. can drive the demand for signal intelligence solutions.
Europe was the second highest revenue generating market for signal intelligence in 2018 due to high adoption of signal intelligence in the military & defense sector in the region. With the help of signal intelligence, the European strategic intelligence and security centers can monitor and prevent regional threats such as terrorism, criminal activities, and social unrest. Furthermore, the German government is investing in expanding their signal intelligence structure, which is expected to fuel the market growth of signal intelligence in the country in the coming years. The use of satellites for gathering intel on important borders can bode well for the market.
Asia Pacific is projected to expand at a rapid CAGR during the forecast period. China is the leading country in this market as it has the most developed signal intelligence capabilities as compared to other nations in the region. In addition, South Korea and India can follow its lead during the forecast period and gaining access to devices that detect enemy transmissions. Rise of cellular standards, rise of communication traffic, and development of new computer bus standards that cater to a large range of radiofrequency spectrum can drive the regional market growth.
SAAB, Rheinmetall, Elbit Systems, General Dynamics, Harris, Cobham, Mercury Systems, Rolta India, Lockheed Martin, BAE Systems, Israel Aerospace Industries, Thales, Raytheon, Systematic A/S, and Northrop Grumman are key players of the global signal intelligence market.
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