Global Communication Intelligence (COMINT) Market Expected to Garner $12,930.3 Million in the 2022-2031 Timeframe, Growing at 6.06% CAGR |[250-Pages] Study by Research Dive
The communication intelligence (COMINT) market is expected to grow by 2031 due to increasing applications in defense industry. The ground sub-segment is predicted to have the highest market share. Market in North America is expected to be the most profitable.
NEW YORK, Feb. 21, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Global Communication Intelligence (COMINT) Market by Mobility (Fixed and Man-portable), Platform (Airborne, Vehicle Mounted, Naval, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031".
As per the report, the global communication intelligence (COMINT) market is predicted to grow at a stable CAGR of 6.06% in the 2022-2031 timeframe, thereby garnering $12,930.3 million by 2031.
Dynamics of the Market
Drivers: The growing need for confidentiality and security of military communications is predicted to help the communication intelligence (COMINT) market grow in the forecast period. Along with this, the growing use and implementation of wireless technology is anticipated to drive the market forward.
Opportunities: Rising complexity of military communication and the growing need for early detection of threats are expected to offer numerous growth opportunities to the market in the analysis timeframe. Moreover, growing applications for COMINT in the defense industry is anticipated to augment the growth rate of the market.
Restraints: Market analysts are however skeptical about the full-paced growth of this market owing to the high deployment cost of communication intelligence technology, which might prove to be a restraint for the communication intelligence (COMINT) market.
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Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The communication intelligence (COMINT) market, too, faced a similar situation. The shutdown of manufacturing industries and the disruptions in global supply chains were the major factors due to which the demand for communication intelligence technology declined. This declining demand plummeted the growth rate of the pandemic in the pandemic period.
Segments of the Market
The report has divided the communication intelligence (COMINT) market into certain segments based on mobility, platform, and region.
- By mobility, the fixed sub-segment is predicted to have a dominant market share by 2031. Growth in demand for early warning systems for armored vehicles, ships, aircraft, etc., is expected to help the sub-segment grow in the forecast period.
- By platform, the ground sub-segment is anticipated to become the most lucrative sub-segment in the analysis timeframe. The use of communication intelligence for tracking down radio sites and monitoring radio traffic is predicted to help in the growth of this sub-segment.
- By regional analysis, the communication intelligence (COMINT) market in North America region is predicted to be the most profitable of all. The adoption of new and sophisticated technologies for military and defense purposes is projected to help the market grow in this region.
Prominent Market Players
Some of the prominent players of the communication intelligence (COMINT) market are
- Lockheed Martin Corporation
- Thales Group
- Elbit Systems Ltd.
- Raytheon Company
- L3Harris Technologies Inc.
- Saab AB
- General Dynamics Corporation
- BAE Systems
- TCI International Inc.
- General Dynamics Corporation
- HENSOLDT
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.
For instance, in April 2022, Cision, a leading communications intelligence company, announced the acquisition of Streem, a real-time media monitoring firm. This acquisition by Cision is predicted to help the company to increase its footprint in the market in the coming period and cater to the demands of the market in a more holistic way.
Finally, the report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about Communication Intelligence (COMINT) Market:
- What are the Key Activities, Capabilities, and Importance of Communication Intelligence?
- Communication Intelligence (COMINT) Market to Observe Significant Growth Due to Product Launches and Company Collaborations by Market Players, such as TCI International, Anritsu, and Others
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