Communication Intelligence Market Size, Growth 6.1% CAGR, Industry Analysis, Trends, Major Players and Forecast 2031
The adoption of AI in electronic warfare and ML majorly in defense departments around the world is expected to increase demand for COMINT and drive the market.
PORTLAND, PORTLAND, OR, UNITED STATES, September 14, 2023/EINPresswire.com/ — According to the report published by Allied Market Research, the global communication intelligence market garnered $7.1 billion in 2021, and is estimated to generate $12.9 billion by 2031, manifesting a CAGR of 6.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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The rise in demand from the defense and aerospace industry has led to an increase in the demand for communication intelligence. The increasing shift of defense sectors towards modernization and increase in the spending on national security for major technological innovations is contributing to the communication intelligence market growth in the upcoming years.
The communication intelligence system is now crucial for the success of defense missions. It is projected that the increase in demand and acceptance of enhanced security solutions in defense and aerospace industries is anticipated to propel the global COMINT industry. For instance, Dover is a global producer of innovative equipment announces the procurement of the Espy Corporation, a leading provider of communication intelligence solutions, Espy develops and manufactures modern automation radio frequency sensor systems for signal recording, analysis, and geolocation.
Based on mobility, the fixed segment accounted for the highest share in 2021, contributing to more than three-fifths of the global communication intelligence market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the man-portable segment is expected to manifest the highest CAGR of 6.4% from 2022 to 2031.
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Based on platform, the ground segment accounted for the highest share in 2021, holding nearly two-fifths of the global communication intelligence market, and is expected to continue its leadership status during the forecast period. However, the airborne segment is estimated to grow at the highest CAGR of 6.7% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global communication intelligence market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 6.6% during the forecast period.
The key players profiled in the communication intelligence market report include Lockheed Martin Corporation, Raytheon Company, General Dynamics Corporation, Northrop Grumman Corporation, Thales Group, and L3Harris Technologies, Inc., BAE Systems, Elbit Systems Ltd., Saab AB, TCI International, Inc., and HENSOLDT.
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Covid-19 Scenario:
• The demand for military equipment over couple of years is unlikely to be affected because money for the defense projects were set aside before the outbreak of the COVID-19 pandemic as they are vital to national defence. As a result, the market for COMINT systems is expected to expand in the future years.
• Moreover, favorable long-term impacts on the market are likely to be witnessed owing to the increasing defense spending by government across the globe.
The report offers a comprehensive analysis of the global communication intelligence market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. Furthermore, the report sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market.
Moreover, restraints and challenges that hold the power to obstruct the market growth are profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.
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