Vehicle Two Ways Radios Market to Reach USD 15,960 Million by 2031 Top 10 Company Globally

The vehicle two-way radio industry supplies mobile and fixed radio units, systems and supporting services used for mission-critical and business communications in vehicles across public safety, transport, utilities, logistics and industrial fleets. These radios range from simple analog vehicle-mounted transceivers to full digital mobile radio (DMR), P25 and LTE-integrated systems that provide voice, data, GPS and fleet management functions. Vehicle two-way radios are distinguished from portable handheld units by higher transmit power, vehicle power integration and features tuned for mobility and dispatch integration; manufacturers typically sell hardware together with system services, software licensing and after-sales support.

The Vehicle Two Way Radios market size of USD 10,540 million for 2024 and an assumed blended industry CAGR of 6.2% through 2031 reaching USD 15,960 by 2031. Average selling price per unit is USD 350 per unit, global unit sales for vehicle two-way radios in 2024 are estimated at approximately 30,114,285 units. Cost of goods sold per unit is USD 252, representing the component, assembly, testing and logistics costs that feed into factory economics. A typical breakdown of COGS by function is estimated as: components and RF modules ~45%, assembly and labor ~20%, battery/case and mechanical items ~10%, testing and QA ~5%, firmware/licensing/royalties ~10%, packaging & logistics ~10%. From these breakdown, factory gross profit per unit is approximately USD 98 with a factory gross margin on selling price in the region of 28%. Typical full-machine annual production capacity per assembly line for mainstream radio manufacturers is estimated at 500,000 units per year per production line under modern automated/semiautomated operations. Downstream demand by industry vertical is concentrated in public safety, transportation/logistics, utilities and industrial fleets.
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Latest Trends and Technological Developments
The sector is experiencing continued convergence of traditional Land Mobile Radio (LMR) with IP, LTE and software services, while intellectual property and regulatory outcomes are actively reshaping competitive dynamics. Key recent developments include: Reuters reported that Motorola lost an appeal related to emergency services network pricing, leaving in place a regulatory price cap imposed by the UK Competition and Markets Authority (report published February 2025). In a high-profile legal development, multiple outlets reported that Hytera pleaded guilty or otherwise faced U.S. enforcement actions and injunctions related to Motorolas trade-secret claims, with a notable Hytera court injunction announced April 2024 and guilty plea reporting in January 2025; these legal rulings have material commercial and supply-chain implications for DMR market share and pricing. Vendors continue to introduce more software integration and AI/analytics features for fleet management and safety workflows; for example, JVCKENWOOD announced availability of AI software for its radio systems in July 2024 and new Kenwood DMR/mobile product launches were reported in early 2025, reflecting product refreshes tied to connectivity and smarter device management. Industry research firms continue to publish growth forecasts for the market, reflecting steady expansion driven by digitalization and infrastructure investments across regions.
Asia as a region accounts for a large and growing share of global vehicle two-way radio revenue and units due to rapid urbanization, expanding public safety networks, transport modernization and large fleet operations across China, India, Japan and South Korea. Market dynamics in Asia are split between advanced mission-critical deployments in developed markets and high-volume, lower-ASP (average selling price) deployments in emerging markets. China has been both a major demand center and a source of competitive OEM supply; however, litigation and export controls (as seen in cases involving Hytera) have created short-term supply and pricing distortions that benefit patented incumbent suppliers in some mission-critical segments. Southeast Asian adoption is being driven by transport and logistics digitalization, port and airport modernization, and municipal public safety upgrades, with convergence toward DMR and IP-backhauled solutions where backhaul infrastructure is available. Pricing pressure in Asia encourages higher volumes at lower price tiers for commercial vehicle radios, while mission-critical public safety procurements continue to command premium pricing and multi-year service contracts.

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Two Way Radios by Type:
Base Two Ways Radios

Vehicle Two Ways Radios

Two Way Radios by Application:
Municipal and Public Safety

Construction Industry

Transportation

Oil&Gas

Others

Global Top 10 Key Companies in the Vehicle Two Way Radios Market
Brentwood

Midland Radio

Motorola

Haas Outdoors,Inc

Icom Incorporated

JVC Kenwood Holdings Inc.

MiningTelecoms

ROCK Networks

Sepura

Yaesu

Regional Insights
Within ASEAN, the vehicle two-way radio market is heterogeneous: Singapore and Malaysia favor higher-end digital trunked systems for public safety and transport networks; Thailand and the Philippines show mixed demand with many smaller fleets and commercial deployments; Indonesia stands out as the largest single market within ASEAN by population and vehicle fleet scale and accounts for a sizable portion of regional unit demand. Indonesias growth is being driven by urban mass transit upgrades, logistics and mining/energy fleet communications sectors that often select vehicle radios for robustness and integration with fleet management systems. ASEAN market growth rates exceed some mature markets due to fleet renewal cycles and infrastructure spending, but ASPs are typically lower than in North America/Europe because of value-tier procurement and local sourcing. Regional adoption of digital standards (DMR, NXDN, P25 in selected public safety contracts) and gradual migration to IP-connected radio systems are ongoing trends. Estimates place ASEANs share of global vehicle-radio revenue in the low double digits, with Indonesia representing roughly a third of the ASEAN market by revenue and unit demand.
The industry faces several headwinds: intellectual property litigation and enforcement (as illustrated by recent high-profile cases) can abruptly alter competitive positions and cause supply-chain disruption; price pressure from low-cost producers squeezes margins on commercial product tiers; transition complexity from analog to digital standards forces channel partners and end customers to invest in migration and training; and increasing cybersecurity and regulatory requirements for mission-critical systems raise product development and certification costs. Additionally, component supply volatility particularly for RF modules, specialized ICs and battery components can inflate COGS and slow time-to-market for new models. Finally, consolidation among system integrators and incumbent changes negotiation leverage for pricing and long-term service contracts.
Manufacturers should prioritize software and services that raise switching costs fleet management, telematics, encryption and managed services rather than relying solely on hardware sales. Diversifying supply chains for critical RF components and leveraging local production/joint ventures in high-growth Asia markets can mitigate geopolitical and litigation risk. For channel partners and system integrators, emphasizing integrated solutions that combine radios with cloud management and analytics improves recurring revenue potential. Investors should monitor regulatory/legal outcomes (which can reallocate market share rapidly), ASP trends in the mid-tier commercial segment, and CAPEX cycles for public safety networks because those factors drive near-term revenue and margin visibility. Strategic M&A appetite is likely for software and telematics firms that can be bundled with radio hardware.

Product Models
Vehicle two-way radios are essential communication tools designed for reliability, range, and efficiency, especially in industries like transportation, emergency services, construction, and security.
Base Two-Way Radios often installed at a central control point for dispatching and monitoring. Notable products include:
Motorola MOTOTRBO XPR 5550e Motorola Solutions: A professional-grade digital mobile radio offering enhanced range, audio clarity, and GPS tracking.
Kenwood NX-5700 JVCKenwood: A versatile radio supporting both analog and digital modes, ideal for multi-fleet operations.
Icom IC-F5061 Icom Incorporated: Compact base station radio with wideband coverage and programmable features.
Hytera MD785i Hytera Communications: Known for robust build and advanced digital features, offering reliable dispatch communication.
Tait TM9300 Tait Communications: A mission-critical digital radio supporting multiple network standards.
Vehicle-Mounted Two-Way Radios which are installed inside vehicles for mobile communication. Examples include:
Vertex VX-2200 Vertex Standard: Reliable analog radio with straightforward controls for daily mobile use.
Tait TM9400 Tait Communications: Digital P25 mobile radio designed for public safety and utilities.
Midland MXT275 Midland Radio: MicroMobile GMRS radio with compact dashboard mount for off-road and fleet use.
Uniden CMX760 Uniden: Compact CB mobile radio with weather alerts and noise reduction.
Yaesu FTM-300DR Yaesu Musen: Dual-band digital/analog mobile radio popular with amateur radio users.
The vehicle two-way radio market in 2024 anchored here at USD 10,540 million with a projected CAGR of 6.2% to 2031 remains a stable growth market supported by public safety renewals, transport and logistics modernization, and industrial fleet digitalization. While litigation and regulatory actions can cause abrupt redistribution of share among OEMs, longer-term demand fundamentals across Asia and ASEAN, particularly Indonesia, support steady volume growth. Profitability at the factory level is strongly influenced by product mix: mission-critical systems command higher ASPs and margins, while commercial tiers drive volume. Companies that accelerate software-defined capabilities, secure diversified supply chains and build recurring service models should capture disproportionate value as the market digitalizes.

Investor Analysis
This report highlights several investor-relevant signals. First, the market size and growth profile establish a stable TAM (total addressable market) for hardware, software and services useful for sizing revenue potential. Second, the estimated unit economics (blended ASP, COGS, factory margin and per-line capacity) let investors model margin expansion opportunities and capital requirements for capacity scaling or servicing contracts. Third, the legal and regulatory developments (notably rulings involving major OEMs) materially affect competitive advantage and downside risk; investors should treat IP outcomes as binary events that can reallocate value across players. Fourth, regional segmentation (Asia & ASEAN detail, including Indonesia) directs where deployment and revenue growth are likeliest crucial for portfolio allocation and localized due diligence. Finally, strategic insights (importance of software/services, supply-chain diversification, and M&A targets) provide a playbook for active investors to prioritize targets and monitor catalysts such as large public safety procurements, product platform launches or M&A in telematics/software. Together, these elements let investors assess valuation drivers, timing of cash flows, margin levers and material risks for companies in the vehicle two-way radio ecosystem.
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5 Reasons to Buy This Report
To obtain a quantified, region-focused view of a USD 10.54 billion global market with bespoke Asia and ASEAN/Indonesia insights.
To access modeled unit economics for investment and manufacturing planning.
To understand near-term legal and regulatory risks and recent news that can materially reallocate market share.
To inform go-to-market strategy and M&A screening by identifying demand splits and high-growth verticals.
To use a compact investor analysis linking market dynamics to valuation and operational levers.
5 Key Questions Answered
What is the global market size for vehicle two-way radios in 2024 and the expected growth trajectory to 2031?
What is the estimated average selling price, total units sold globally in 2024, and factory economic metrics?
How do Asia and ASEAN differ in adoption, ASPs and vertical demand profiles?
Which recent legal, regulatory or vendor developments materially affect competitive positions and pricing?
What strategic moves (product, supply chain, software/services, M&A) should manufacturers and investors prioritize to capture value
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of the product manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Sales, revenue of the product in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.

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