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.
In the maritime industry, the VHF radio system is considered as an effective communication channel.Some severe conditions at sea and on board can make communication difficult.
Conditions such as noise and bad weather in the form of rain can negatively impact radio message transmission.Thus, to handle such situations, various associations are focusing on building better communication.
For instance, in June 2020, the German Maritime Search and Rescue Association DGzRS, along with the Fraunhofer IAIS, Fraunhofer CML, and Rhothetha Elektronik GmbH, initiated the Automated Transcription of Maritime VHF Radio Communication for Search and Rescue Mission Coordination research project.
The emerging countries in APAC are likely to offer numerous future growth opportunities to the VHF radio providers during the forecast period of 2020 to 2027.Some of the major countries are inclined toward recreational boating activities, such as boat racing and sailing.
Increasing interest of people in boat riding helps increase recreational boating activities in growing economies in APAC. Rising income levels enable consumers in the developing countries to spend on premium recreational activities. Apart from China and India, other Asian countries are also likely to witness a growth in recreational boating activities.For instance, Sri Lanka is progressing in the recreational boating industry.
As per the Boat Building Technology Improvement Institute, the country is not a developed boating nation; however, presently, small advances are witnessing a rising demand for recreational boating.In addition, the Indonesian Marine Tourism Association is positive about the benefits of the boating industry in Indonesia.
In the country, recreational boating activities will present numerous opportunities in the future.Thus, growing recreational boating activities will demand VHF radio systems since they are increasingly popular with boaters.
They are efficient for marine communications and have more consistent reception than mobile phones. Besides, no need for license when used in recreational boats. Hence, recreational boating activities are expected to provide numerous profitable business opportunities for VHF radio market players during the forecast period.
The US is a prominent market for VHF Radio, especially aviation and marine sectors.The huge increase in the number of confirmed cases and rising reported deaths in the country affects both manufacturing and sales of VHF Radio components used.
The factory and business shutdowns across the US, Canada, and Mexico impact the adoption of the VHF radio market. North America is home to many manufacturing and technology companies, and thus the impact 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 market growth of North America negatively for the next few quarters
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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