Land Mobile Radio Market Size Soaring at 14.3% CAGR to Reach 40.98 billion USD by 2027

Market Study Report adds new research on Land Mobile Radio market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Land Mobile Radio market also includes an in-depth study of the industrys competitive scenario.

Global Land Mobile Radio Market to reach USD 40.98 billion by 2027. Global Land Mobile Radio Market is valued approximately at USD 16.08 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 14.3% over the forecast period 2021-2027.

Major market player included in this report are:

  • Harris Corporation
  • Motorola Solutions, Inc.
  • Simoco
  • Raytheon Company
  • JVCKENWOOD Corporation
  • Thales SA
  • Sepura PLC RELM Wireless Corporation
  • Hytera Communications Corporation Limited
  • Tait Radio Communications Limited

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These systems are beneficial in the difficult terrains and regions where high speed voice communications network cannot reach. The global Land Mobile Radio market is being driven by increasing defense operations due to rising terrorism, natural disasters, cross border conflicts and other incidences where the communications among personnel becomes crucial.

Land Mobile Radio systems are wireless communications systems which are essential for voice communications among the crucial and emergency public services used by defense personnel, state, local, federal, tribal emergency responders, public safety personnel and other crucial services.

For instance, according to the jewishvirtuallibrary.org, in 2018 total terrorist incidents occurred were 8,093 worldwide. Also, in May 2021, Israel-Gaza conflict led to many attacks amongst each other. The other driving factor for the market is the rising demand for inexpensive and reliable land mobile radios.

Furthermore, the rising demand for voice encryption for secure communication and technological advancements will provide new opportunities for the global Land Mobile Radio industry. However, high costs of building LMRs and restricting industry expansion due to limited spectrum bandwidth may impede market growth over the forecast period of 2021-2027.

The regional analysis is segmented for the major regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World of the global Land Mobile Radio Market.  North America is the leading region across the world in terms of market share due to growing aerospace operations, many military missions around the world and enhanced research & development activities have stimulated product demand in the region.

Whereas, Asia Pacific is anticipated to exhibit the highest CAGR over the forecast period 2021-2027 due to the technological upgraded devices and increase in military operations due to cross border conflicts in the region.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

Full Report Summary At: https://www.marketstudyreport.com/reports/global-land-mobile-radio-market-size-research?utm_source=marketwatch.com&utm_medium=AG
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