Increase in defense budgets of major countries across the globe and rise in adoption of advanced and innovative technologies and products drive the growth of the global signals intelligence market.
PORTLAND, Ore, July 11, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Signals Intelligence (SIGINT) Market By Type (Electronic Intelligence (ELINT), Communications Intelligence (COMINT)), By Application (Airborne, Ground, Naval, Space, Cyber): Global Opportunity Analysis and Industry Forecast, 2021-2030.” According to the report, the global signals intelligence (SIGINT) market generated $15.5 billion in 2021, and is expected to reach $23.3 billion by 2030, witnessing a CAGR of 4.5% from 2022 to 2030.
Drivers, Restraints, and Opportunities
Increase in defense budgets of major countries across the globe and rise in adoption of advanced and innovative technologies and products drive the growth of the global signals intelligence market. However, budgetary constraints and lack of skilled personnel restrain the market growth. On the other hand, the emergence of solutions that enable air-force management, situational awareness, and extensive collaborative mission planning presents new opportunities.
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Covid-19 Scenario
- The Covid-19 pandemic led to a significant rise in government surveillance tactics across the world, primarily through the mobile phone applications. This greatly impacted the signal intelligence market.
- The R&D activities and production activities of innovative signal intelligence systems were stopped completely or partially during the lockdown. This impacted the overall revenue of the market negatively.
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The electronic intelligence (ELINT) segment contributed to the largest share in 2021
Based on type, the electronic intelligence (ELINT) segment held the highest market share in 2021, contributing to more than half of the global signals intelligence market. This is attributed to the utilization of ELINT to gather information regarding radars and operational methods of enemy and ensure national safety and border security. However, the communications intelligence (COMINT) segment is estimated to witness the largest CAGR of 6.1% from 2022 to 2030, owing to increase in adoption of technologies such as artificial intelligence in electronic warfare, machine learning, and 5G by military departments across the world.
The airborne segment accounted for the highest share in 2021
Based on application, the airborne segment contributed the highest market share in 2021, accounting for more than four-fifths of the global signals intelligence industry. This is attributed to adoption of signal intelligence systems to achieve universal situational awareness, air-force management, and extensive collaborative mission planning. However, the cyber segment is expected to manifest the fastest CAGR of 5.2% from 2022 to 2030, owing to increase in number of cyber-attacks globally.
North America to maintain its dominance in terms of revenue by 2030
Based on region, North America accounted for the highest market share in terms of revenue in 2021, accounting for nearly one-third of the global signals intelligence market, and is expected to maintain its dominance in terms of revenue by 2030. This is attributed to heavy investments in the defense sector in countries including the U.S. and Canada. However, Asia-Pacific is estimated to register the fastest CAGR of 5.0% during the forecast period. This is due to rise in security & border threats from neighboring countries, technological advancements, and rapid economic development in China, India, Russia, and South Korea.
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Leading Market Players
- BAE Systems
- Thales Group
- Northrop Grumman Corporation
- Lockheed Martin Corporation
- Raytheon Company
- Elbit Systems Ltd.
- General Dynamics Corporation
- Rheinmetall AG
- Mercury Systems Inc.
- Harris Corporation
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