According to the latest research report titled “VHF radio Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 31.77 billion by 2027, registering a CAGR of 8.9% during 2020–2027.The VHF radio market was valued at US$ 3,177.37 million in 2019 and is projected to reach US$ 6,218.05 million by 2027; it is expected to grow at a CAGR of 8.9% from 2020 to 2027. The adoption of effective systems in maritime processes and operations to increase security and reduce operational costs has been growing rapidly. VHF radio, one of the most cost-effective systems, enables to communicate with a broad range of people and organizations, such as the commercial ships, the US Coast Guard, the Rescue 21 network, bridge tenders, race committees, and TowBoatUS. The VHF radio is effective as its antenna systems, which are equipped as high as possible. Since VHF signals travel more or less in a straight line, antenna at a higher level boosts a VHF signal to reach more distant stations. In case of an emergency, the VHF radio system is highly adopted in marine emergency situations or by search and rescue (SAR) organizations on land and sea.
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Growing adoption of VHF radios in marine and aviation industries for long range communication coupled with increased acceptance of wireless solutions are some of the key driving factors for the global VHF radio market. However, the limited range of VHF radio systems may act as a hindering factor for the growth of the market. Despite some limitations, rise in adoption of VHF radios among commercial end users and integration of advanced technologies, such as Bluetooth and advanced radio technology, are some of the factors that are anticipated to drive the VHF radio market globally.
Increasing Focus on Low-Price Solutions to Drive Market Growth The marine and aviation industry are upgrading their communication system with the help of VHF radios which is one prominent factor driving the market growth. The new regulation increased competition among the new market players, and pricing structure witnessed positive change favoring the customers. Despite some limitations, rise in adoption of VHF radios among commercial end users and increasing integration in Bluetooth and advanced radio technology, are accelerating the VHF radio market growth globally. Certain implications by governments of various countries such as US, Germany, UK, and others over frequency range is hindering market growth. However, the increasing use of VHF radios in emergency communications and situational awareness application is predicating remarkable growth in forecasted period.
Asian region shows promising growth ahead in the forecasted period as countries such as China and India are investing huge amount of capital for the marine development. Further, increasing attention of customers toward recreational boating activities, such as boat racing and sailing is crating lucrative opportunity for the market. Increasing interest of people in boat riding helps increase recreational boating activities in growing economies in APAC
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Key Findings of Study:
Rising adoption of recreational boating in the North America opens new possibilities for VHF radio equipment since boaters must use the finest channel when communicating on VHF radio. According to the FCC regulations, boaters with VHF radios must have to 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. Such supportive rule favoring VHF radio adoption is key factor driving the market growth in North America region.
APAC is anticipated to register the fastest CAGR in the global VHF radio market during the forecast period. A constant growth in the aviation industry in the region leads the market growth with increasing number of aircraft fleets. The aviation industry in APAC region is highly inclined toward implementing VHF radio for long-range communications for improved communication. For instance, in China, the Air Traffic Management Bureau has executed over-the-horizon VHF communications to contact traffic over the South China Sea.
Overall size of the VHF radio market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the VHF radio market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultant such as valuation experts, research analysts and key opinion leaders specializing in the VHF radio market. A few of the major players operating in the global VHF radio market are Jotron, Icom Inc., Raymarine (FLIR Systems), Sailor (SATCOM Global), Uniden America Corporation, Yaesu USA, Cedar Electronics, JVC Keywood Holdings Inc., Navico, and Entel UK Limited.
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