The global Communication Intelligence (COMINT) Market is estimated to be valued at $9,148.1 million by 2027, surging from $5,779.5 million in 2019 at a noteworthy CAGR of 6.1%.
COVID-19 Impact on the Communication Intelligence (COMINT) Market
The coronavirus outbreak in 2020 had a huge impact on companies all across the world. The signal intelligence systems industry is likely to witness a modest dip in couple of years due to COVID-19 impact on communication intelligence market. This is due to the implementation of curfews by most governments, as well as the closing of enterprises and private and public companies around the world, in order to prevent the virus from spreading. As a result of which, there has been a gradual decline in the production as well as the number of orders received for communication intelligence (COMINT) solutions. However, major companies in the market focused on product development and innovation during the period. For instance, Raytheon Technologies Corporation’s space department, launched a project in November 2020 to build a threat detection strategy for military aircraft operators that will combine electronic warfare, cyber, and signal intelligence tools into a single open-architecture system.
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Global Communication Intelligence (COMINT) Market Analysis
Two major drivers of market expansion are growing terrorism concerns and the budget allocated in the defense industry. Moreover, the increasing demand for public safety, situational awareness of electromagnetic environment (EME), and security initiatives are expected to drive the growth of communication intelligence market. Furthermore, the rising number of terrorism strikes around the world is driving the defense budget in several nations. Over the last decade the average number of annual deaths due to terrorist attacks was registered at 21,000. As per a report published by Stockholm International Peace Research Institute, global defense spending climbed by about 2.6% in 2020 compared to 2019, while spending in the United States increased by about 4.4 %
Moreover, the organizations in the field of radio communication technology are performing extensive research in order to develop market-leading solutions such as use of artificial intelligence in electronic warfare, and application of foreign instrumentation signals intelligence. To attain maximum market penetration, the organizations are taking steps to integrate electronic intelligence solutions into their existing systems. In line with communication intelligence (COMINT) market trends, such developments are likely to boost the market growth over the forecast period.
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The high cost of deployment of communication intelligence (COMINT) technologies may limit the worldwide industry’s expansion. As inherent part of wireless communication, COMINT solutions are increasing their reach in areas such as spectrum mapping, jamming, marine domain awareness, eavesdropping, Radio Frequency (RF), and cyber-surveillance is likely to alter the communication intelligence (COMINT) market share of key players in the coming years.
Global Communication Intelligence (COMINT) Market, Segmentation
The global communication intelligence (COMINT) market is segmented based on platform, mobility, and region.
Based on platform, the communication intelligence (COMINT) market has been segmented into airborne, vehicle mounted, naval, and others, of which the vehicle mounted sub-segment is projected to generate the maximum revenue of $1,488.1 million by 2027. As per the communication intelligence market forecasts, the segment in likely to witness fastest compound annual growth rate of 6.8% during the forecast period. In view of COMINT market trends, the growth of the segment can be attributed to the mobility of the systems that aids in collecting information seamlessly. Moreover, General Dynamic Corporation’s Prohpet system, that can be installed on vehicle, provides a near-real-time image of the battlespace through SIGINT sensors and high-performance processing. Also, the market is likely to propel due to increasing security concerns coupled with the procurement of military communication solutions owing to the rise in disputes among the developed as well as developing nations.
The mobility segment is further divided into fixed and man-portable. The man-portable sub segment of the global communication intelligence (COMINT) market is projected to have the fastest growth and surpass $4,842.3 million by 2027.
Man-portable COMINT is one of the important tools that helps militaries with real-time decision-making and offers a strategic benefit on the battleground. COMINT system collects the enemy’s data including text or voice messages from their communication system.
The communication intelligence (COMINT) market for the Asia-Pacific region is projected to witness rapid growth. This market generated a revenue of $1,434.3 million in 2019 and is further projected to reach up to $2,398.2 million by 2027.
The region is considered as the most favorable market for the COMINT tools, owing to the utility of advance security technologies particularly in developing nations such as China Japan, South-Korea, Australia and India. In addition, significant enhancement in the capabilities of defense is anticipated to drive the communication intelligence (COMINT) market, in the region.
Key Players in the Global Communication Intelligence (COMINT) Market
- Lockheed Martin Corporation
- Raytheon Company
- General Dynamics Corporation
- Northrop Grumman Corporation
- Thales Group
- L3Harris Technologies, Inc.
- BAE Systems
- Elbit Systems Ltd.
- Rheinmetall AG
- Avantix SAS
Moreover, communication intelligence (COMINT) market share is occupied by major players namely Lockheed Martin, Northrop Grumman Corporation, and Thales Group, The major communication intelligence (COMINT) market insights vis-à-vis strategic development include partnerships & collaborations and technological developments adopted by several market players.
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global Communication Intelligence (COMINT) Market:
Bargaining Power of Suppliers: The suppliers in the Communication Intelligence (COMINT) market are high in number. Several companies are working on framing new designs and technology for homeowners, the buyers have an edge over the suppliers. Thus, there is less threat from the suppliers. Thus, the bargaining power of suppliers is moderate.
Bargaining Power of Buyers: Buyers have huge bargaining power; they demand the best services at low prices. This increases the pressure on interior door manufacturers to offer the best service in a cost-effective way. Thus, buyers can freely choose the convenient service that best fits their preferences. Thus, the bargaining power of the buyers is high.
The threat of New Entrants: Companies entering the Communication Intelligence (COMINT) market are adopting technological innovations such as improving the user experience and customized products to attract clients. Also, these companies are implementing various effective strategies such as offering discounts and value propositions. Thus, the threat of new entrants is moderate.
The threat of Substitutes: There is no alternative product for interior door solutions. Thus, the threat of substitutes is low.
Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including JELD-WEN, Inc., and Masonite. These companies are launching their products in the international market and strengthening the footprint worldwide. Therefore, competitive rivalry in the market is high.
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