The global Signals Intelligence (SIGINT) market is expected 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 the forecast period.

The major market growth factors include increasing terrorism, growing defense budget of major countries across the globe, and modernization or replacement of an aging defense system. However, the high cost involved in the SIGINT system deployment could restrain market growth.

Space platform segment is expected 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. SIGINT satellites support the warfighter, as the warfighter retrieves every minute data on a 24/7 basis, potentially every day of the year.

Vendors are investing with an intention to play an even greater role in assisting defense and security operations. For instance, the CERES satellite system, the first operational space-based SIGINT system of the French Ministry of Defence, is scheduled for launch in 2020.

Asia Pacific (APAC) is expected to grow at the highest growth rate during the forecast period

APAC is projected to witness the highest growth rate, especially in China and India, which is due to the high propensity of these countries to adapt to technological advancements.

Rising insurgencies and armed conflicts in APAC is one of the factors driving the SIGINT market growth. For instance, according to ourworldindata.org, India witnessed 966 terror incidents in 2017. India was the fifth-largest country in military expenditure across the world in 2017.

In addition to this, the fast-growing economies of the APAC region are improving their defense capabilities. For instance, in 2017, Japan spent USD 45.4 billion on military expenditure. Japan is investing heavily on submarine fleet purchases, which automatically increases the deployment of SIGINT systems in submarines.

Major vendors are continuously making new developments to gain a competitive advantage in the market; for instance, in December 2017, the company received a 7-year contract from the UK Ministry of Defence's (MOD) Maritime Combat Systems (MCS) team to provide mission-critical combat support across Royal Navy fleet and ensure the readiness of combat management systems, tactical networks, and shared infrastructures for 38 Royal Navy platforms.

Moreover, Lockheed Martin has also signed an agreement with the US Navy to provide MH-60 helicopters with enhanced electronic warfare surveillance and countermeasure capabilities.

Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Market Segmentation

1.4 Years Considered for the Study

1.5 Currency Considered

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.1.1 Secondary Data

2.1.2 Primary Data

2.1.2.1 Breakup of Primaries

2.1.2.2 Key Industry Insights

2.2 Market Breakup and Data Triangulation

2.3 Market Size Estimation

2.3.1 Top-Down Approach

2.3.2 Bottom-Up Approach

2.4 Market Forecast

2.5 Assumptions for the Study

2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Signals Intelligence Market

4.2 Signals Intelligence Market in North America, By Type and Country

4.3 Signals Intelligence Market, By Region

4.4 Signals Intelligence Market: Global Revenue Share

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Terrorism to Remain A Critical Global Threat

5.2.1.2 Growing Defense Budget of Major Countries Across the Globe

5.2.1.3 Modernization Or Replacement of Aging Defense Systems

5.2.2 Restraints

5.2.2.1 High Cost Involved in Signals Intelligence System Deployment

5.2.3 Opportunities

5.2.3.1 Increasing Presence of Signals Intelligence in the Public Domain

5.2.4 Challenges

5.2.4.1 Incapability to Address Multiple Threats

5.3 Porter's Five Forces Analysis

6 Signals Intelligence Market, By Type

6.1 Introduction

6.2 Electronic Intelligence (ELINT)

6.2.1 Increasing Complexity of Threats Across the Globe to Drive the ELINT Market

6.3 Communications Intelligence (COMINT)

6.3.1 Growing Demand for COMINT Systems and Solution to Assess the Movements and Intentions of Enemy Forces

7 Signals Intelligence Market, By Application

7.1 Introduction

7.2 Ground

7.2.1 Need for Intelligence Services and Support Continues to Grow as Soldiers Remain Engaged on Multiple Fronts

7.3 Airborne

7.3.1 Air Forces of Various Nations are Investing Vigorously in Building Strong Communication Networks

7.4 Naval

7.4.1 Demand for Threat Identification and Strategic Intelligence Capabilities to Increase the Demand for SIGINT

7.5 Space

7.5.1 Growing Role of Space-Based SIGINT System in Defense and Security Operations to Drive Its Market Growth

7.6 Cyber

7.6.1 Cyber Threat Intelligence Helps Government and Defense to Combat Multiple Cyber Threats

8 Signals Intelligence Market, By Region

8.1 Introduction

8.2 North America

8.2.1 United States

8.2.1.1 Increasing Government Investments and Contracts to Drive the Growth of the SIGINT Market in the US

8.2.2 Canada

8.2.2.1 Huge Investment By the Canadian Government to Increase the Level of Security for the Protection of People

8.3 Europe

8.3.1 United Kingdom

8.3.1.1 UK Military Expenditure to Drive the Growth of SIGINT Market

8.3.2 France

8.3.2.1 Increased SIGINT Activity in Space-Based Signal Intelligence in France

8.3.3 Germany

8.3.3.1 Germany as A Key Market and an International Technological and Industrial Center of Military and Homeland Security Forces to Provide Good Market Growth Opportunity

8.3.4 Russia

8.3.4.1 Russia Continues to Maintain One of the Most Sophisticated SIGINT Programs Across the Globe

8.3.5 Rest of Europe

8.4 Asia Pacific

8.4.1 China

8.4.1.1 China to Focus on SIGINT to Become A Global Power in ICT

8.4.2 Japan

8.4.2.1 Growing Use of SIGINT Systems for Defense Applications in Japan to Drive the Growth of the SIGINT Market

8.4.3 India

8.4.3.1 Indian Navy is Aiming to Gain Access to Dedicated Communication and Surveillance Satellite Capabilities for Military Applications

8.4.4 Australia

8.4.4.1 Australia is Making Huge Investments and Acquisitions to Enhance Its Defense Position

8.4.5 Rest of Asia Pacific

8.5 Middle East and Africa

8.5.1 Kingdom of Saudi Arabia

8.5.1.1 Ksa Was the Third-Largest Military Spender After the US and China in 2017

8.5.2 United Arab Emirates

8.5.2.1 Increasing Government Investment to Boost the SIGINT Market of the UAE

8.5.3 Rest of Middle East and Africa

8.6 Latin America

8.6.1 Brazil

8.6.1.1 Increasing Brazilian Military Expenditure to Boost the SIGINT Market

8.6.2 Mexico

8.6.2.1 Mexico Holds Potential Business Opportunities in Defense Aerospace

8.6.3 Rest of Latin America

9 Competitive Landscape

9.1 Overview

9.2 Market Ranking

9.3 Competitive Scenario

9.3.1 New Product Launches and Product Enhancements

9.3.2 Partnerships, Collaborations, and Agreements

9.3.3 Mergers and Acquisitions

9.4 Competitive Leadership Mapping

9.4.1 Visionary Leaders

9.4.2 Dynamic Differentiators

9.4.3 Innovators

9.4.4 Emerging Companies

10 Company Profiles

10.1 BAE Systems

10.2 Lockheed Martin

10.3 Northrop Grumman

10.4 Thales

10.5 Raytheon

10.6 Elbit Systems

10.7 General Dynamics

10.8 Israel Aerospace Industries

10.9 SAAB

10.10 Mercury Systems

10.11 Rolta India

10.12 Rheinmetall

10.13 Systematic A/S

10.14 Harris

10.15 Cobham

Laura Wood, Senior Press Manager

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SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 03/14/2019 10:49 AM/DISC: 03/14/2019 10:49 AM

Copyright Business Wire 2019.