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Explosive Growth Forecasted: Land Mobile Radio Market Set to Reach $29.97 Billion by 2027, Surging at an Impressive CAGR of 13.7% || Motorola Solutions Inc., Harris Corporation, Cartel Communication Systems Inc., BK Technologies
Land Mobile Radio Market
The Business Research Company's Land Mobile Radio Global Market Report 2023 the increase in the usage of land mobile radio (LMR) systems in military applications is the major driver for the land mobile radio market's growth in the forecast period. Military installations all over the world employ a wide range of specialised radio systems that operate on frequencies ranging from extremely low frequencies (ELF) to super-high frequencies (SHF). Tactical, data, SATCOM, and other specialised communications are all carried out on these bands. The military relies on essential radio communications to coordinate deployments and response actions at its bases around the world. The LMR network allows military emergency services to communicate with other federal, state, and local public safety agencies securely.
The global land mobile radio market size grew from $15.4 billion in 2022 to $17.96 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The land mobile radio market size is expected to grow to $29.97 billion in 2027 at a CAGR of 13.7%.
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Major competitors in the land mobile radio market are Motorola Solutions Inc., Harris Corporation, Cartel Communication Systems Inc., BK Technologies, TE Connectivity Ltd., Sepura Ltd., Simoco Telecommunications Ltd.
A key trend in the land mobile radio market includes integration of LTE technology into LMR systems. LTE (Long-Term Evolution) is a fourth-generation (4G) wireless standard for cellphones and other cellular devices that increases network capacity and speed. Land mobile radio manufacturers are incorporating LTE technology as it offers many advantages, including centralised management, improved PTT set-up times, lower recurring costs, interoperability and compliance, improved network performance compared to multiple networks, unlimited inter-technology communications, and network security. For instance, in April 2021, the National Institute of Standards and Technology in the USA developed a low-cost computer system that connects older public safety radios to modern wireless communications networks.
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The Land Mobile Radio market is segmented -
• By Type: Hand Portable, In-Vehicle (Mobile)
• By Technology: Analog, Digital
• By Frequency: 25-174 (VHF), 200-512 (UHF), 700 MHZ And Above
• By Application: Commercial, Public Safety, Mining, Oil and Gas, Energy, Defense, Transportation, Construction, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the land mobile radio market.
The Business Research Company's "Global Land Mobile Radio Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Land Mobile Radio Market Include:
1. Executive Summary
2. Land Mobile Radio Market Characteristics
3. Land Mobile Radio Market Trends And Strategies
4. Land Mobile Radio Market - Macro Economic Scenario
5. Land Mobile Radio Market Size And Growth
……………
27. Land Mobile Radio Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Land Mobile Radio Market
29. Land Mobile Radio Market Future Outlook And Potential Analysis
30. Appendix
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