The globalSignals Intelligence (SIGINT) market size is expected to grow from USD 12.8billion in 2018 to USD 15.6 billion by 2023, at a Compound Annual Growth Rate(CAGR) of 4.1% during the forecast period. The major driving factors for theSIGINT market are increasing terrorism, growing defense budget of majorcountries across the globe, and modernization or replacement of an agingdefense system.
The majorSIGINT market vendors include BAE Systems (UK), Lockheed Martin (US), NorthropGrumman (US), Thales (France), Raytheon (US), Elbit Systems (Israel), GeneralDynamics (US), Israel Aerospace Industries (Israel), Saab (Sweden), MercurySystems (US), Rolta India (India), Rheintmetall (Germany), Systematic(Denmark), Harris (US), and Cobham (UK). These players have adopted variousgrowth strategies, such as partnerships, agreements, and collaborations, andnew product launches, to further expand their presence in the global SIGINTmarket. New product launches, partnerships, and agreements have been the mostadopted strategies by the major players from 2016 to 2018, which helped theminnovate their offerings and broaden their customer base.
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BAE Systemsis one of the leading players in the global SIGINT market. It is one of theleading aerospace and defense companies in the world. It operates through 4significant segments, namely, air, maritime, land, and cyber. In the field ofSIGINT market, the company offers S-3000 Signals Intelligence and InformationOperations Systems, Tactical SIGINT Payload (TSP), and Eclipse SIGINT products.The company adopted organic growth strategies such as new product launches andexpansions. For instance, in November 2018, BAE Systems announced the launch ofthe WEnDL system to enhance air traffic situational awareness for militaryaircraft pilots.
NorthropGrumman is one of the leading vendors in the SIGINT market. It is a globaldefense and aerospace technology company providing products, systems, andsolutions to commercial and government customers worldwide. Its aerospacesystems primarily focus on areas such as ISR, strike operations,communications, earth observation, and space science. Northrop Grumman followsboth organic and inorganic growth strategies and has focused on increasing itsproduct portfolio with the help of strategies such as agreements and newproduct launches. For instance, in June 2016, Northrop Grumman signed an MOUwith Ultra Electronics to deliver new Maritime Domain Awareness (MDA) andAnti-Submarine Warfare (ASW) capabilities for Northrop Grumman's family ofautonomous systems.
Airborneapplication is expected to account for the highest market share during theforecast period.
SIGINT solutionsprovide actionable real-time information and enable universal situationalawareness, in-depth collaborative mission planning, and management to airforces. The solutions ease the routine operations of air forces as regularinformation transmission plays a vital role in real-time decision-making. Thesolutions provide the right information at the right time and are responsiblefor collecting information related to any unwanted movements and activities tooffer authorities the information for quick decision-making.
NorthAmerica is expected to account for the highest market share during the forecastperiod.
NorthAmerica is expected to dominate the global SIGINT market as its defense forcesare investing a lot in developing more technologically-advanced SIGINT systems.The increase in military support to other countries and increasing terrorismare the major factors driving the North American SIGINT market. The regioncomprises the US and Canada. The US accounts for the highest share of theSIGINT market.
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