Land Mobile Radio Market is expected to reach US$ 13.9 billion by 2030 | The Insight Partners

Rising Importance of Effective Critical Communication Operations Drives Land Mobile Radio Market Growth

According to our latest study on "Land Mobile Radio Market Forecast to 2030 - COVID-19 Impact and Global Analysis - by Type, Technology, Frequency, and Application," the land mobile radio market size is expected to reach US$ 13.9 billion by 2030 from US$ 6.9 billion in 2022, with an estimated CAGR of 9.0% from 2022 to 2030.

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Land mobile radio (LMR) technology has evolved over time from traditional analog voice service (such as two-way communications) to complex systems with trunking and digital capabilities. With an increase in crime, terrorism, and natural disasters, industries are required to adopt new technologies to enable rapid and effective real-time reactions. Effective communication is critical for public safety responders who must keep connected with one another at the control center while also acquiring situational information in real time when reacting to situations. With increasing security threats and demands for greater efficiency, cross-agency coordination, and better information sharing, the development of efficient public safety communications networks has emerged as a top priority for organizations. Looking at the scope and demand, major global land mobile radio market players are expanding in several regions across the world. In August 2022, Motorola acquired Barrett Communications Pty Ltd, a global provider of specialist radio communications, for US$ 18 million. This acquisition adds to the company's current radio portfolio, enabling it to leverage high-frequency and very high-frequency radio communications to support mission-essential activities. Such trends are fueling the land mobile radio market growth.

The List of Companies - Land Mobile Radio Market

• L3Harris Technologies Inc
• Motorola Solutions Inc
• Tait Communications Ltd
• Thales SA
• Simoco Wireless Solutions Ltd
• JVCKENWOOD Corp
• BK Technologies Corp
• Hytera Communications Corp Ltd
• Icom Inc
• Sepura Ltd

The land mobile radio market is segmented on the basis of type, technology, frequency, and application. Based on type, the land mobile radio market is bifurcated into handheld and in-vehicle. By technology, the land mobile radio market is segmented into analog and digital. The market for the digital segment is further segmented into TETRA, DMR, P25, and others. Based on frequency, the land mobile radio market is segmented into 25-174 VHF, 200-512 UHF, and 700 MHz and above. Based on application, the land mobile radio market is segmented into commercial, industrial, public safety & government, and military. By region, the land mobile radio market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Recent Developments:

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the land mobile radio market. A few recent key land mobile radio market developments are listed below:

• In May 2023, L3Harris Technologies received significant orders totaling US$ 160 million from the US Marine Corps for multi-channel handheld and vehicular radio systems. These orders are part of a 10-year, competitively awarded US$ 750 million contract for L3Harris Falcon IV radios, showcasing the company's advanced technology and commitment to providing resilient communications solutions for military forces. These orders, coupled with previous ones from the US Army, amounting to US$ 235 million, highlight the growing adoption of L3Harris' software-defined radio architecture by US military services and key allies.

• In October 2022, the US Army awarded Thales SA a contract worth US$ 100 million for the fifth order of handheld, manpack, and small form fit (HMS) radios under the Leader Program. The contract includes 4,000 AN/PRC-148D 2-channel IMBITR units, enhancing battlefield networking capabilities for warfighters with advanced mobile ad-hoc networking (MANET) waveform.

• In March 2022, Powerboat P1 announced the extension of its partnership agreement with Icom, which saw the international, advanced communications company become the official marine radio communications partner of P1 Offshore powerboat racing and P1 AquaX personal watercraft racing. Icom has a long history of being a reliable manufacturer of land mobile radio, amateur radio, marine and aviation radio, and communications receivers sold in over 80 countries.

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Land Mobile Radio Market Regional Analysis:

The North America land mobile radio market size was valued at US$ 3,184.12 million in 2022 and is projected to reach US$ 5,641.23 million by 2030; it is expected to grow at a CAGR of 7.4% from 2022 to 2030. The North American land mobile radio market is segmented into the US, Canada, and Mexico. The US held the largest share of the market in 2022. Major customers of these devices in the US are government officials and their prime contractors seeking high-grade encryption solutions for military and commercial applications. Safety personnel from the military and commercial sectors across the US use different types of radio systems, including vehicle-mounted, handheld, and airborne radio systems operating at different frequencies for voice and data communication. Companies operating in North America are continuously developing advanced communication solutions in accordance with the demands of countries in the region. The market in the US is undergoing modernization owing to developments in wideband technology, leading to a swift transition to wideband communication systems. The US Army chose Harris Corporation to supply a 2-channel vehicular radio system-the AN/VRC-118-that uses the wideband networking waveform developed by the Department of Defense of the US.

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This release was published on openPR.