VHF Radio Market Revenue to Cross US$ 6,218.05 million by 2027: The Insight Partners

According to The Insight Partner latest market study on "VHF Radio Market to 2027 - COVID-19 Impact, and Global Analysis and Forecast - by Type (Handheld, Fixed-Mount); Application (Marine, Aviation, Land): and Geography," the market was valued at US$ 3177.37 million in 2019 and is projected to reach US$ 6218.05 million by 2027; it is expected to grow at a CAGR of 8.9% from 2020 to 2027.

In 2019, North America led the global VHF Radio market with decent revenue share, followed by Europe. North America constitutes developed economies, such as the US, Canada, and Mexico. North America includes developed economies, such as the US and Canada, as well as emerging economies, such as Mexico. Technological developments make North America a highly competitive market for various companies. The companies in this region are continuously developing overall business processes to meet end users' demands for high-quality products. At present, the US boasts of strong port infrastructure and maritime sector due to its substantial reliance on imported goods and notable outsourcing of manufacturing and production facilities over Asian economies. Thus, the country presently relies on numerous maritime industry-related products for seamless operations, maintenance, and industry growth.

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North America includes developed economies, such as the US and Canada, as well as emerging economies, such as Mexico. Technological developments make North America a highly competitive market for various companies. The companies in this region are continuously developing overall business processes to meet end users' demands for high-quality products. At present, the US boasts of strong port infrastructure and maritime sector due to its substantial reliance on imported goods and notable outsourcing of manufacturing and production facilities over Asian economies. Thus, the country presently relies on numerous maritime industry-related products for seamless operations, maintenance, and industry growth.

Recreational boats are increasingly cruising to new horizons due to the rising tourism industry in the region, increasing economic development, and surging participation in boating activities. The region represents a huge VHF Radio market for recreational boats due to the growing interest of individuals in recreational boating. Individuals use these boats for pleasure and fun activities amid trip with family and companions. The huge adoption of recreational boating in the region opens new possibilities for VHF radio equipment since boaters must use the finest channel when communicating on VHF radio.

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Impact of COVID-19 Pandemic on VHF Radio Market

The US is a prominent market for VHF Radio, especially aviation and marine sectors. The huge increase in the number of confirmed cases and rising reported deaths in the country affects both manufacturing and sales of VHF Radio components used. The factory and business shutdowns across the US, Canada, and Mexico impact the adoption of the VHF radio market. North America is home to many manufacturing and technology companies, and thus the impact of coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation in the US will impact the VHF radio market growth of North America negatively for the next few quarters.

VHF radio systems are considered a reliable tool for emergency communications. The government, rescue services, and charity associations have disaster management plans for any hurricanes and earthquake scenarios. In such a situation, when mobile phone signals are jammed, VHF radios are important to create lines of communication between the rescue services. In Europe, the UK is moderately protected from massive natural disasters, such as earthquakes and hurricanes; however, civil emergencies caused by flooding are becoming a progressively common thing, putting people's lives in danger. Thus, in order to handle such a situation, the country is highly adopting VHF radio for better communications, even in the worst scenarios. To tackle emergencies, companies are highly focused on designing efficient VHF radio systems. For instance, DCS 2-Way Radio Ltd, a UK-based company, designs VHF radios, supporting hospitals and the emergency services.

VHF Radio Market - Companies Profiles

• Cedar Electronics
• Entel UK Limited
• Icom Inc.
• Jotron
• JVC Kenwood Holdings Inc.
• NAVICO
• RAYMARINE (FLIR SYSTEMS)
• SAILOR (SATCOM GLOBAL)
• UNIDEN AMERICA CORPORATION
• YAESU USA

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