Infinium Global Research’s recent report on “Land Mobile Radio Market ((By Type (Mobile LMR System, Portable LMR System), By Technology (Analog, Digital), By End User (Defence and Law Enforcement, Commercial, Transportation, Construction, Others)): Global Industry Analysis, Trends, Size, Share and Forecasts up to 2028” the provides a comprehensive outline of the factors responsible for the growth of the market. The revenue generated by the market was over USD 22 billion in 2022 and is expected to reach over 50 billion in 2028 and is expected to grow with a CAGR of nearly 15%over the forecast period 2022-2028.
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"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2022-2028."
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Growing Modernization of Land Forces Around the World
LMR, or Land Mobile Radio, is the term for two-way radio push-to-talk. It can be portable, mounted on a vehicle, or have a fixed base, among other configurations. LMR is used for mission-critical communications in private communications for commercial businesses and public safety. LMR acts as the primary medium of every day, secure communication for various sectors. The LMR operating frequency bands are displayed on LMR Frequency Charts. For instance, LMR can function on a variety of frequencies for both business and public safety needs. The following frequencies—450–470 MHz, 150–172 MHz, and 30–50 MHz (Low VHF Band)—are used for LMR (UHF). LMR can reach a large area depending on the frequency it uses. Growing modernization of land forces around the world and growing demand from other end-user sectors are driving the market. New advancements in radio technology are further expected to provide new opportunities in the market.
The COVID19 coronavirus outbreak, according to the World Health Organization (WHO), has wreaked havoc on both humanity and the world economy. To contain this pandemic, all of the governments have imposed a state of lockdown. The lockdown may have slowed the epidemic's progress, but it has had a terrible effect on the countries and disrupted the entire value chains of the biggest markets, including the market for land mobile radio systems. The need for land mobile radio systems rapidly decreased along with the closure of the commercial and industrial facilities. Due to supply chain problems, the production of these systems also suffered.
Defense and Law Enforcement Agencies to Dominate the End User Segment
Defense and Law Enforcement Agencies to dominate the End User segment of the market. The defense and law enforcement agencies to support their mission-critical operations every day, they depend on reliable and interoperable communications such as LMR. The LMR network also enables safe communication between the emergency services and other regional, national, and local public safety organizations. Furthermore, the LMR is being adopted by defense forces around the world as the modernization of land forces is growing rapidly. Numerous public safety organizations have transitioned over time from simple analog LMR systems that supported only voice to more sophisticated digital LMR systems that support both speech and data.
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North America to be the Dominant Region
Geographically, North America is projected to be the largest revenue generating region in the market. One of the world's most prosperous regions is North America. North America is one of the biggest military spenders in the world. In 2021, the US alone spent more than USD 801 billion on its military. The defense industry is one of the main sectors driving the US economy. Therefore, the major consumers of the land mobile radio in North America are the armed forces and law enforcement, which has significantly fueled industry expansion.
Recent years have seen a significant increase in the use of LMR by law enforcement organizations as a result of escalating public safety concerns in North America. Due to its many benefits, other industries like manufacturing, utilities, and oil & gas are employing LMR more frequently. Given the region's rapidly increasing end-user industry demand, Asia-Pacific is predicted to have the fastest growth rate.
Companies in Land Mobile Radio Market to Focus on New Contracts
The market for Land Mobile Radio has turned into a competitive space as the technology has matured and the market players have started offering state of products in the market. The major focus of the companies is on landing new contracts. Major players in the market include Motorola Solutions, Inc., RELM Wireless Corporation, L3Harris Technologies, Inc., Cassadian Communications, Inc, Thales Group S.A., and others.
In January 2022, Motorola Solutions, Inc. was awarded a contract worth USD 29 million by US Navy for sustaining its Land Mobile Radio network and systems. Infinium Global Research’s recent report on the Global Land Mobile Radio Market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the market and also estimates the impact of recent developments in the global market.
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=> Comprehensive analysis of global as well as regional markets of the land mobile radio.
=> Complete coverage of all the product types and applications segments to analyze the trends, developments, and forecast of market size up to 2028.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.
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