SIGINT market to reach $1.56 billion by 2023, study saysNews
March 29, 2019
NORTHBROOK, Ill. The global signals intelligence (SIGINT) market is expected to grow from $12.8 billion in 2018 to $15.6 billion by 2023, at a compound annual growth rate (CAGR) of 4.1 percent during the forecast period, according to a study from MarketsandMarkets, "Signals Intelligence (SIGINT) Market - Global Forecast to 2023."
According to the study, the major driving factors for the upward trend in the SIGINT market include increasing terrorism, the growing defense budgets of major countries across the globe, and widespread modernization or replacement of aging defense systems by governments.
Electronic intelligence (ELINT) is expected to be the largest SIGINT market going forward, owing to its increasing utility across air, naval, and ground platforms. ELINT involves gathering data by the use of electronic sensors about the enemy's electronic defense network, in particular about electronic devices such as radars, surface-to-air missile systems, aircraft, and electronic transmitters. The increasing complexity of threats worldwide is driving the market as ELINT technology assists in detecting, recognizing, and countering the threats.
The study's authors expect that SIGINT in the space segment -- which is designed to provide strategic threat assessments and offer an exceptional level of tactical support to decision makers and soldiers -- will grow at the highest CAGR during the forecast period.
For additional information on this SIGINT study, please visit the MarketsandMarkets website.