The new signal intelligence system market research report from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Signal Intelligence System Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the signal intelligence system market.
“One of the primary growth drivers for this market is the growing demand for UAS-based SIGINT system”, says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the signal intelligence system market size to grow by USD 1.26 million during the period 2020-2024.
Signal Intelligence System MarketSegment Highlights for 2020
- The signal intelligence system market is expected to post a year-over-year growth rate of 5.95%.
- Based on the application, the ground-based SIGINT system segment led the market in 2019. The growth of the segment can be attributed to the rising demand for better and advanced intelligence systems from the military sector.
- The growth of the market in the segment will be significant over the forecast period.
- 38% of the growth will originate from the North America region.
- Factors such as increasing conflicts between countries and the growing need to suppress various militant groups are driving the growth of the market in North America.
- The US is the key market for signal intelligence systems in North America. Market growth in this region will be slower than the growth of the market in APAC, MEA, and Europe.
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- The signal intelligence system market size is expected to accelerate at a CAGR of over 6% during the forecast period.
- The signal intelligence system market is segmented by Application (Ground-based SIGINT system, Airborne SIGINT system, and Naval vessel-based SIGINT system) and Geography (North America, APAC, Europe, MEA, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including BAE Systems Plc, Elbit Systems Ltd., General Dynamics Corp., Leonardo Spa, Mercury Systems Inc., Northrop Grumman Corp., Raytheon Technologies Corp., Rohde & Schwarz GmbH & Co. KG, Saab AB, and Ultra Electronics Holdings Plc
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