According to this report the ball-shaped VHF radio commercialize 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 ball-shaped VHF Radio marketplace with properly gross share, followed by Europe. North America constitutes originate economies, such as the US, Canada, and Mexico. North America includes develop economies, such as the US and Canada, deoxyadenosine monophosphate well as emerging economies, such as Mexico. technological developments make North America a highly competitive market for respective companies. The companies in this area are continuously developing overall commercial enterprise 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 solid reliance on imported goods and celebrated outsource of manufacture and production facilities over asian economies. therefore, the area 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 engagement in boating activities. The region represents a huge grocery store for recreational boats due to the growing concern of individuals in amateur boat. Individuals use these boats for joy and playfulness activities amid trip with kin and companions. The huge adoption of recreational boating in the region opens modern possibilities for VHF radio equipment since boaters must use the finest duct when communicating on VHF radio. As per FCC regulations, boaters having VHF radios must maintain a determine on either channel nine or channel 16 whenever the radio is turned on and not communicating with another post. The FCC announced the VHF-FM channel nine as a auxiliary calling channel for amateur boaters at the request of the US Coast Guard. several companies in the region are designing diverse types of VHF radios for the marine industry. For example, Garmin Ltd. provides fixed-mount VHF 210 AIS radio receiver displays with 25 W impart might, optimizing communication, situational awareness, and collision avoidance. The intersection includes frequency bands for all US and canadian marine channels. increase in publicize dealings has made it essential for airports in the area to opt for VHF radio communication equipment to ensure the efficiency of airlines. Increasing tendency of wireless communication has led to noteworthy developments in VHF radio receiver systems. The concenter of component manufacturers in designing next-gen systems is propelling the grocery store in the region. Impact of COVID-19 on VHF Radio market The huge increase in the number of confirm cases and rising reported deaths in the country affects both fabricate and sales of VHF Radio components used. The factory and clientele shutdowns across the US, Canada, and Mexico impact the adoption of the VHF radio market. North America is home to many fabricate and technology companies, and thus the shock 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 marketplace growth of North America negatively for the following few quarters. Reasons to Buy:
Read more: What is the Maritime Industry?
- 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 Drivers
- Increasing Demand for VHF Radio Systems in Emergency Communications and Situational Awareness
- Growing Demand for VHF Radio in Marine Applications
Restraints
- Limited Range of VHF Radio
Opportunities
- Increasing Recreational Boating Activities in Developing Countries of APAC
Future Trends
Read more: Australia Maritime Strategy
- 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
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