DUBLIN--(BUSINESS WIRE)--The "VHF Radio Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Handheld, Fixed-Mount); Application (Marine, Aviation, Land)" report has been added to ResearchAndMarkets.com's offering.
According to this report the global VHF radio 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.
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 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.
As per FCC regulations, boaters having VHF radios must maintain a watch on either channel nine or channel 16 whenever the radio is turned on and not communicating with another station. The FCC announced the VHF-FM channel nine as a supplementary calling channel for recreational boaters at the request of the US Coast Guard. Several companies in the region are designing various types of VHF radios for the marine industry. For instance, Garmin Ltd. provides fixed-mount VHF 210 AIS radio displays with 25 W transmit power, optimizing communication, situational awareness, and collision avoidance. The product includes frequency bands for all US and Canadian marine channels.
Increase in air traffic has made it essential for airports in the region to opt for VHF radio communication equipment to ensure the efficiency of airlines. Increasing trend of wireless communication has led to noteworthy developments in VHF radio systems. The focus of component manufacturers in designing next-gen systems is propelling the market in the region.
Impact of COVID-19 on VHF Radio market
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.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global VHF radio market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global VHF radio market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Market Dynamics
- Increasing Demand for VHF Radio Systems in Emergency Communications and Situational Awareness
- Growing Demand for VHF Radio in Marine Applications
- Limited Range of VHF Radio
- Increasing Recreational Boating Activities in Developing Countries of APAC
- Rising Demand for Wireless Technologies
Companies Mentioned
- Jotron
- Icom Inc.
- RAYMARINE (FLIR SYSTEMS)
- SAILOR (SATCOM GLOBAL)
- UNIDEN AMERICA CORPORATION
- YAESU USA
- Cedar Electronics
- JVC Kenwood Holdings Inc
- NAVICO
- Entel UK Limited
For more information about this report visit https://www.researchandmarkets.com/r/zhel2d
