New York, USA, Nov. 30, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global signal intelligence (SIGINT) market is expected to generate a revenue of $17,362.9 million by 2027, growing exponentially at a CAGR of 4.0% during the forecast period 2020-2027. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Signal Intelligence (SIGINT) Market
Drivers: Rising number of terrorist attacks in developing and developed nations across the globe is expected to drive the growth of the market during the forecast period. In addition, increasing investments in the defense sector done by various countries across the globe is further expected to bolster the growth of the signal intelligence market during the forecast period.
Restraints: Extortionate cost associated with the deployment of signal intelligence system is expected to impede the growth of the market during the forecast period.
COVID-19 Impact on the Signal Intelligence (SIGINT) Market
The outbreak of COVID-19 has had a remarkable impact on the global signal intelligence market, owing to the prevalence of lockdowns in various countries across the globe. Implementation of signal intelligence has appreciably accelerated the public health measures by keeping a control on the severity of outbreaks. Thus, the pandemic has had a positive impact on the growth of the global signal intelligence market.
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Segments on the Signal Intelligence (SIGINT) Market
The report has divided the market into various segments based on type, solution and region.
Type: COMINT Sub-segment to be Most Profitable
The COMINT sub-segment is expected to generate a revenue of $9,041.7 million by 2027 during the forecast period. COMINT is an effective tool aids militaries with real-time decision-making, apart from providing a strategic advantage on the battleground. This factor is expected to drive the growth of the signal intelligence market sub-segment during the forecast period.
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Solution: Air-Borne Sub-segment to be Most Lucrative
The air-borne sub-segment is expected to generate a revenue of $3,615.2 million during the forecast period. SIGINT solutions significantly help in in-depth collaborative mission planning and air force management. This factor is expected to bolster the growth of the sub-segment during the forecast period.
Region: North America Region Expected to Dominate the Market
The North America region is expected to generate a revenue of $5,528.3 million during the forecast period. Huge investment in the defense sector done by countries in this region is expected to stimulate the growth of the market. In addition, the presence of prominent players of the market in this region is expected to accelerate the growth of the regional signal intelligence market during the forecast period.
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Key Players of the Signal Intelligence (SIGINT) Market
1. BAE Systems
2. Northrop Grumman Corporation
3. Raytheon Technologies Corporation
4. General Dynamics Corporation
5. L3Harris Technologies
6. Thales Group
7. Lockheed Martin Corporation
8. Elbit Systems, Ltd
9. Rheinmetall AG
10. Mercury Systems, Inc.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in September 2021, Dover Corporation, an American conglomerate manufacturer of industrial products, acquired The Espy Corporation, an innovative signal intelligence company that designs and manufactures advanced electronic radio frequency sensor systems, in order to capitalize on long-term growth trends in signal intelligence.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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