Two-Way Radio Equipment Market to Grow at a CAGR of 6.2% to Hit US$ 12,034.52 Million by 2028 - Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners

Two-Way Radio Equipment Market report focuses on providing a market overview, which interprets value chain structure, industrial environment, regional analysis, applications, and forecast from 2021 to 2028. The report also offers the most accurate estimations and forecasts possible. In addition, this study emphasizes detailed competition analysis on market prospects, especially growth strategies that market experts claim.

The global two-way radio equipment market is segmented into five major regions North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. In 2020, North America led the two-way radio equipment market with a substantial revenue share, followed by Europe and Asia Pacific. Military expenditure is rising worldwide due to various factors such as rising warfare, increasing government initiatives to strengthen the military & defense sector, and growing terrorism.

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The global expenditure on the military & defense sector increased by 2.6% in 2020, according to the data published by Stockholm International Peace Research Institute (SIPRI). A few of the highest spenders in 2020 are the US, China, India, Saudi Arabia, and Russia. Due to rising military expenditure across countries, the military & defense bodies are increasingly acquiring efficient communication systems.

For instance, with increased expenditure for acquisition and development in military communications, electronics, telecommunications, and intelligence (CET&I) technology, the US military is spending a significant amount on the acquisition of communication electronics in 2019. Thus, in 2019, the US invested US$ 351.6 million in the procurement of handheld manpack small form fit (HMS) radios. These factors are expected to create lucrative opportunities for the growth of the global two-way radio equipment market during the forecast period.

The report on the Two-Way Radio Equipment market includes information on the strategic collaborations. The study also mentions the key players across the Two-Way Radio Equipment market. Here are some prominent participants involved in the Two-Way Radio Equipment Market - Major Players: BK Technologies Inc.; Hytera Communications Corporation Ltd; Icom America Inc.; Midland Radio Corporation; Motorola Solutions Inc.; Tait Communications; Wintec Co., Ltd; Uniden America Corporation; JVCKENWOOD Corporation;

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The two-way radio equipment market in South America is further segmented into Brazil, Argentina, and the Rest of South America. Due to the increasing movement of flights, governments of respective countries are planning to expand the existing airport. Thus, the expansion of airports drives the two-way radio equipment market in the region.

Very high-frequency two-way radio equipment is normally used across outdoor operations in rural areas. The major industries that utilize this kind of two-way radio include farming & agriculture, road & bridge construction, volunteer public safety, paging systems, and long-haul trucking services. Motorola Solution., Inc.; Midland Radio Corporation; Wintec Co., Ltd are companies offering very high frequency two-way radio equipment.

This research provides detailed information regarding the major factors influencing the growth of the Two-Way Radio Equipment Market in Global and Regional Level (drivers, restraints, opportunities, and challenges), forecast of the market size, in terms of value, market share by region and segment; regional market positions; segment and country opportunities for growth; New product developments, strengths and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats from current competition and prospects; Key company profiles, SWOT, product portfolio and growth strategies.

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