New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Signals Intelligence (SIGINT) Global Market Report 2023" - https://www.reportlinker.com/p06319911/?utm_source=GNW
The global signals intelligence (sigint) market grew from $14.09 billion in 2022 to $14.7 billion in 2023 at a compound annual growth rate (CAGR) of 4.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The signals intelligence (sigint) market is expected to grow to $17.93 billion in 2027 at a CAGR of 5.1%.
The signals intelligence market includes revenues earned by entities by providing information about terrorizations, activities, capabilities, and intentions of a country’s rivals.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Signals intelligence refers to collecting foreign intelligence through electronic signals and systems which used by foreign targets, such as radars, communications systems, and weapons systems that provides a critical window for a nation into foreign adversaries’ capabilities, actions, and intentions. It can help used any government in the world, to gather data about international terrorists and foreign persons, organizations, or powers.
North America was the largest region in the signals intelligence market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the signals intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of signals intelligence are electronic, communications, and foreign instrumentation signal intelligence.Electronic signal intelligence offers situational intelligence, ELINT (electronic intelligence) records, and analyses of non-communication radio signals, most commonly radar broadcasts.
It uses a chain of analytical modules and a specific passive or active electronic sensor, as well as updating databases of recorded radar signals. The signals intelligence is further divided by mobility into fixed and man portable and used in applications such as cyber, ground-based, naval, space, and airborne intelligence.
The growing defense budget of major countries across the globe is expected to drive the growth of the signals intelligence market going forward.The protection of a country is viewed as a government responsibility.
It encompasses the inhabitants, economy, and institutions of the country.National security is a top concern in many countries around the world, and it necessitates a sizable expenditure to build and maintain.
According to a report published by Stockholm International Peace Research Institute, in 2021, the total global military spending in 2020 increased by 2.6 % to $1.98 trillion from 2019. Furthermore, the United States, China, India, Russia, and the United Kingdom accounted for 62% of global military expenditure. Therefore, the growing defense budget of major countries drives the market for signals intelligence
The technological advancement is a key trend gaining popularity in the signals intelligence market.Key players are focusing on using latest technologies such as cloud and advanced sensors in signals intelligence architecture to offer innovative signals intelligence systems.
Such as advanced signals intelligence systems enables key players to gain a competitive edge in the market.For instance, in October 2021, Northrop Grumman, a US-based aerospace and defense company designed a next-generation signals intelligence architecture called SAGE.
SAGE is a cloud-based platform-agnostic open architecture including transceivers and microservices that act as a comprehensive sensor. SAGE offers smaller systems enabling for large size, weight and power configuration aboard platforms.
In September 2021, Dover Corporation, a UK-based industrial product manufacturer, acquired The Espy Corporation for an undisclosed amount.Espy Corporation will become a part of the Microwave Products Group (MPG) within Dover’s Engineered Products segment through this acquisition.
This acquisition of Espy positions MPG (Microwave Products Group) to capitalize on long-term growth trends in signal intelligence. The Espy Corporation is a US-based signal intelligence solution company.
The countries covered in the signals intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The signals intelligence market research report is one of a series of new reports that provides signals intelligence market statistics, including signals intelligence industry global market size, regional shares, competitors with a signals intelligence market share, detailed signals intelligence market segments, market trends and opportunities, and any further data you may need to thrive in the signals intelligence industry. This signals intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06319911/?utm_source=GNW
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