According to a research report "Signals Intelligence (SIGINT) Market by Type (Electronic Intelligence (ELINT) & Communications Intelligence (COMINT)), Application (Airborne, Naval, Ground (Vehicle-Mounted, Soldiers, & Base Station), Space, & Cyber), and Region - Global Forecast to 2025", published by MarketsandMarkets, the global SIGINT market size is projected to grow from USD 14.0 billion in 2020 to USD 17.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period. The major driving factors for the SIGINT market are the increasing terrorism, growing defense budget of major countries across the globe, and modernization or replacement of an aging defense system.
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Driver: Growing defense budgets of major
countries across the globe
National security is the
security of a nation-state, regarded as a duty of government. It includes the
nation’s citizens, economy, and institutions. National security is a vital
priority in several countries around the world and requires a large budget in order
to be built and maintained. The total world military expenditure was about USD
1.8 trillion in 2018, a 2.6% increase from 2017.
The US spends the most on
defense, and more than the next seven countries combined. The US spent USD 649
billion on defense in 2018, and the next seven countries (China, Saudi Arabia,
India, France, Russia, the UK, and Germany) spent a combined total of USD 609
billion. National security in the US is the third most expensive government
program after Social Security and Medicare. Historically, the US has
consistently spent more on defense than any other G-7 nation.
Restraint: High cost involved in signals
intelligence system deployment
The adoption of advanced
and innovative technologies and products is a constant challenge for militaries
due to budgetary limitations and the lack of skilled personnel. Budget
constraints often hinder the adoption of advanced communication systems.
Countries in the European Union recovering from economic stress have also shown
intentions to cut their respective defense budgets. Countries around the world
are exploring and inviting new alternatives to military systems to reduce
costs. Therefore, the SIGINT industry is shifting from defense suppliers to
commercial providers. For instance, the declining defense budgets of some major
economies, such as Saudi Arabia, UK, France, and Germany, would affect the
demand for SIGINT systems in the near future, which in turn, is acting as a
challenge for the growth of the SIGINT market. Being a capital intensive
market, the market in the emerging economies is not growing at the desired
pace.
Opportunity: Increasing presence of signals
intelligence in the public domain
SIGINT capabilities are majorly used
by the government and defense sector, but SIGINT solutions are expanding its
reach in other applications areas including maritime domain awareness; Radio
Frequency (RF) spectrum mapping; eavesdropping, jamming, and hijacking of
satellite communications; and cyber-surveillance. Maritime domain awareness is
the most mature commercial SIGINT application, which gives an effective
understanding of any vessel or object in the maritime domain that could affect
the security, safety, economy, or the environment. Various industries are now
equipped with SIGINT systems for protection and security. For instance, Elbit
Systems received a USD 15 million contracts from Energean Israel to supply a
comprehensive solution for the Floating Production Storage and Offloading
(FPSO) platform of the offshore Karish-Tanin gas fields. The technological
suite includes a wide range of sensors, radars, sonars, and a command and
control center, along with equipping rapid interception boats with a dedicated
suite of sensors. The security solution offers the capability to detect and
identify both surface and underwater threats and will assist security teams in
responding efficiently.
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North
America to hold the largest market share during the forecast period.
North America has the presence of several prominent market
players delivering SIGINT solutions to all end-users in the region. The US and
Canada both have strong economic conditions and are expected to be major
contributors to the growth of the SIGINT market. The US government has taken
initiatives to implement advanced SIGINT systems for naval, land, and air
forces. There are various well-established and prominent SIGINT manufacturers
in this region, including Lockheed Martin (US), Northrop Grumman (US), General
Dynamics (US), Mercury Systems (US), L3Harris (US), and Raytheon (US)..
Market
Players
Major vendors covered in the SIGINT market report include
BAE Systems (UK), Lockheed Martin (US), Northrop Grumman (US), Thales (France),
Raytheon (US), Elbit Systems (israel), General Dynamics (US), Saab (Sweden),
HENSOLDT (Germany), Indra (Spain), Mercury Systems (US), Israel Aerospace
Industries (Israel), Rolta India (India), Rolta India (Germany), Systematic
(Denmark), L3Harris (US), Cobham (UK), and Leonardo (Italy).
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