Signals Intelligence (SIGINT) Market foreseen to reach USD 15.6 billion by 2023

The report on the Global Signals Intelligence (SIGINT) Market covers Industry Size, market valuation by segmentation as well as region, historical trends, dynamics, country-level analysis for every segment, key Vendor’s share analysis, competitive landsca

(EMAILWIRE.COM, November 29, 2019 ) MarketsandMarkets forecasts the new research report “global Signals Intelligence (SIGINT) market size to grow from USD 12.8 billion in 2018 to USD 15.6 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 4.1% during 2018–2023. The global SIGINT market is gaining traction, owing to factors such as increasing terrorism, growing defense budget of major countries across the globe, and modernization or replacement of an aging defense system.

Browse 48 market data Tables and 41 Figures spread through 116 Pages and in-depth TOC on "Signals Intelligence Market by Type (Electronic Intelligence (Elint) & Communications Intelligence (Comint)), Application (Airborne, Naval, Ground (Vehicle-Mounted, Soldiers, & Base Station), Space, & Cyber), and Region - Global Forecast to 2023"

The SIGINT, by type, includes Electronic Intelligence (ELINT) and Communications Intelligence (COMINT). The COMINT type is expected to grow at a higher CAGR during the forecast period. SMEs are organizations with less than 1,000 employees. COMINT facilitates militaries with real-time decision-making and offering a strategic advantage in the battlefield. It helps in detecting, intercepting, direction finding, and analyzing transmissions of opponents, which gives the operator the ability to detect and analyze unusual patterns, signals, and movements of enemy forces.

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The SIGINT, by application, is segmented into 5 categories, namely, airborne, ground, naval, space, and cyber. The space segment is projected to grow at the highest CAGR during the forecast period. SIGINT in space or satellites is a vital resource for defense and security missions, especially while planning operations and mission deployments remotely. The satellites are designed to provide strategic threat assessments and offer an exceptional level of tactical support to decision makers and soldiers. This SIGINT satellite supports the warfighter, as the warfighter retrieves every minute data on a 24/7 basis, potentially every day of the year.

In terms of geographic coverage, the global SIGINT market has been segmented into 5 major regions, namely, North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. APAC is expected to record the highest growth rate during the forecast period as the region comprises developed and emerging economies such as Japan, Australia, China, and India. Technological advancements and rapid economic development in China, India, Russia, and South Korea have helped in increasing the investments in the APAC SIGINT market. The fast-growing economies of the APAC region are improving their defense capabilities. The technological advancements in SIGINT solutions and systems in APAC also offer opportunities for the market to grow.

Major vendors in the global SIGINT market include BAE systems (UK), Lockheed Martin (US), Northrop Grumman (US), Thales (France), Raytheon (US), Elbit Systems (Israel), General Dynamics (US), Israel Aerospace Industries (Israel), Saab (Sweden), Mercury Systems (US), Rolta India (India), Rheintmetall (Germany), Systematic (Denmark), Harris (US), and Cobham (UK).

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