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(IT-NEWSWIRE.COM, July 06, 2020 ) The global Signals Intelligence market size 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 driving factors for the SIGINT market are increasing terrorism, growing defense budget of major countries across the globe, and modernization or replacement of an aging defense system.
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The major SIGINT market vendors include BAE Systems (UK), Lockheed Martin (US), Northrop Grumman (US), Thales (France), Raytheon (US), Elbit Systems (Israel), General Dynamics (US), Israel Aerospace Industries (Israel), Saab (Sweden), Mercury Systems (US), Rolta India (India), Rheintmetall (Germany), Systematic (Denmark), Harris (US), and Cobham (UK). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product launches, to further expand their presence in the global SIGINT market. New product launches, partnerships, and agreements have been the most adopted strategies by the major players from 2016 to 2018, which helped them innovate their offerings and broaden their customer base.
BAE Systems is one of the leading players in the global SIGINT market. It is one of the leading aerospace and defense companies in the world. It operates through 4 significant segments, namely, air, maritime, land, and cyber. In the field of SIGINT market, the company offers S-3000 Signals Intelligence and Information Operations Systems, Tactical SIGINT Payload (TSP), and Eclipse SIGINT products. The company adopted organic growth strategies such as new product launches and expansions. For instance, in November 2018, BAE Systems announced the launch of the WEnDL system to enhance air traffic situational awareness for military aircraft pilots.
Northrop Grumman is one of the leading vendors in the SIGINT market. It is a global defense and aerospace technology company providing products, systems, and solutions to commercial and government customers worldwide. Its aerospace systems primarily focus on areas such as ISR, strike operations, communications, earth observation, and space science. Northrop Grumman follows both organic and inorganic growth strategies and has focused on increasing its product portfolio with the help of strategies such as agreements and new product launches. For instance, in June 2016, Northrop Grumman signed an MOU with Ultra Electronics to deliver new Maritime Domain Awareness (MDA) and Anti-Submarine Warfare (ASW) capabilities for Northrop Grumman's family of autonomous systems.
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