Land Mobile Radio System Market is estimated to register a 10.69% CAGR during the forecast period of 2018 to 2023

ReportBazzar has released its latest research-based report entitled ‘Land Mobile Radio System’ market.

Land mobile radio (LMR) is a terrestrial two-way wireless communication device used for critical communication by public safety and commercial organizations around the world. These radios are either carried by individuals or installed in vehicles. LMR systems typically consist of radios, base stations, repeaters, consoles and related accessories, and network infrastructure.

Typically, LMR systems are deployed independently but can also be connected to other stationary systems such as cellular or public telephone networks. Over the years, LMR systems have become a vital component in the communications industry.

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 There have been significant innovations in LMR systems owing to technological advancements and improved software systems. Companies such as Motorola Solutions, Inc., JVCKenwood Corporation, and Thales Group have invested heavily in LMR systems, which would significantly propel market growth. The increasing demand for LMR in private security services, rising need for military communication equipment, and growing defense expenditure are the key factors driving the growth of the global market. Furthermore, the rising adoption of LMR in industrial and commercial applications offers promising growth opportunities for market players. The increased use of unmanned aerial vehicles (UAVs) in the military is hindering market growth to a certain extent. 

Regional Analysis

The global Land Mobile Radio System Market is estimated to register a 10.69% CAGR during the forecast period of 2018 to 2023. In 2017, the market was led by North America with a 31.84% share, followed by Europe and Asia-Pacific with shares of 28.73% and 27.46%, respectively. Asia-Pacific is expected to be the fastest-growing land mobile radio system market, while North America is projected to dominate the global market during the forecast period. The presence of key companies such as Motorola Solutions, Inc., Harris Corporation, and RELM Wireless Corporation in North America is also expected to contribute to the growth of the regional market.

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Increasing military budget allocations by the US Department of Defense (DOD) for developing tactical communication systems, in recent years, has resulted in a significant demand for radio systems.

Key Players

Harris Corporation (US), Hytera Communications Corporation Limited (China), ICOM Incorporated (Japan), JVCKenwood Corporation (Japan), Leonardo SpA (Italy), Motorola Solutions, Inc. (US), RELM Wireless Corporation (US), Simoco Wireless Solutions (UK), Tait Ltd (New Zealand), and Thales Group (France), are some of the key players profiled in this report. Motorola Solutions, Inc. and JVCKenwood Corporation are the leading players and together accounted for nearly 50% of the market share in 2017.

Objective of the Global Land Mobile Radio System Market Report—Forecast till 2023

• To provide insights into factors influencing market growth
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and key countries
• To provide historical and forecast revenue of the market segments based on type, application, technology, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market

Target Audience

• Military and defense organizations
• Government and regulatory authorities
• Communication solutions providers
• Military end users
• Land mobile radio manufacturers, service providers, and distributors
• Military equipment manufacturers

Key Findings

• The global land mobile radio system market has been segmented, on the basis of type, into portable and vehicle-mounted. The portable segment market is projected to register the higher CAGR of 11.08% during the forecast period.
• The global land mobile radio system market has been divided, by application, into public safety and commercial. The public safety segment market is projected to register the higher CAGR of 10.76% during the forecast period.
• The global land mobile radio system market has been classified, on the basis of technology, as digital and analog. The digital segment market is projected to register the higher CAGR of 11.84% during the forecast period.
• Asia-Pacific is projected to be the fastest-growing land mobile radio system market, registering the highest CAGR of 11.67%% during the forecast period to reach a market size of USD 3,213.2 million by the end of 2023. 

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