Market Overview:

Increasing use of unmanned aerial vehicles (UAVs) or drones for long-distance communication can be detrimental to the market. Emergence of automated security systems also pose a considerable threat to market growth.

The global land mobile radio system market is anticipated to rise to a valuation of USD 11,099.99 million by 2023, at a 10.69% CAGR during the forecast period (2018-2023). The need for land mobile radio systems (LMRs) in private security agencies is likely to bode well for the market. Unprecedented development of cities coupled with need for manned security services for the protection of citizens are expected to fuel the market growth.

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Inflated defense expenditure of nations is predicted to boost the land mobile radio system market growth. Military spending had reached USD 1.7 trillion in 2017 according to the Stockholm International Peace Research Institute (SIPRI). Modernization of legacy equipment coupled with geopolitical tensions are likely to elicit the demand for LMRs till 2023. Commercial and industrial applications in oil & gas, logistics, transportation, utilities, and others offer new avenues for LMR vendors to expand.

Segmentation:

The land mobile radio system market is segmented by type, application, and technology. 

By type, portable LMRs can exhibit 11.08% CAGR over the forecast period to generate close to USD 7,081 million by 2023. The extensive use by militaries and governments is expected to spur the segment’s growth till the end of the forecast period. On the other hand, vehicle-mounted LMRs can exhibit 10.03% CAGR over the assessment period to generate USD 4,018.7 million for the land mobile radio system market.

Regional Analysis:

Region-wise, the land mobile radio system market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). North America accounted for 31.84% market share in 2017, followed by Europe (28.73%), APAC (27.46%), and RoW (11.97%).

The North America region is expected to enjoy 10.93% CAGR over the forecast period to touch a valuation of USD 3,580.5 million by 2023. Establishment of supportive standards is likely to provide the regional market a much-needed impetus. For instance, Project-25 comprises a set of standards which enable public safety agencies to communicate via text or video. In addition, presence of prominent manufacturers such as Motorola, Harris, and RELM which can cater to user needs can augur well for the land mobile radio system market till 2023.

Competitive Analysis:

Major names operational in the land mobile radio system market are Motorola Solutions, Inc. (U.S.), Thales Group (France), Simoco Wireless Solutions Limited (U.K.), Tait Ltd. (New Zealand), Hytera Communications Corporation Ltd. (China), ICOM Inc. (Japan), RELM Wireless Corporation (U.S.), Leonardo S.p.A. (Italy), JVCKenwood Corporation (Japan), Harris Corporation (U.S.), and others.

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