Military expenditure is rising across APAC countries due to increasing government initiatives to strengthen the military and defense sectors in response to rising warfare and terrorism. According to data published by Stockholm International Peace Research Institute (SIPRI), spending on the military and defense sector increased by 2.6% in 2020. Financial empowerment allows military and defense bodies to acquire efficient communication systems. For instance, with a surge in budget allocations for developments in military communications, electronics, telecommunications, and intelligence (CET&I) technology, several military forces across the region spent significant amounts on the acquisition of communication electronics in 2019. These factors are creating lucrative opportunities for the growth of the two-way equipment market players in APAC.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC two-way radio equipment market. The APAC two-way radio equipment market is expected to grow at a good CAGR during the forecast period.
APAC Two-Way Radio Equipment Market Segmentation
The APAC two-way radio equipment market is segmented based on product type, category, end user, distribution channel, and country. Based on type, the market is segmented into digital and analog. The analog segment dominated the market in 2020 and digital segment is expected to be fastest growing during forecast period. Based on signal frequency, the market is segmented into very high frequency (VHF) and ultra-high frequency (UHF). The very high frequency (VHF) segment dominated the market in 2020 and ultra-high frequency (UHF) segment is expected to be fastest growing during forecast period. Based on end-use industry, the market is segmented into government and public safety, manufacturing, utilities, transportation and logistics, education, hospitality, and others. The government & public safety segment dominated the market in 2020 and transportation and logistics segment is expected to be fastest growing during forecast period. Based on country, the APAC two-way radio equipment market is segmented into the Australia, China, India, Japan, South Korea, and Rest of APAC. BK Technologies Inc; Hytera Communications Corporation Ltd; JVCKENWOOD Corporation; Midland Radio Corporation; Motorola Solutions Inc.; Ritron Inc; Tait Communications; Uniden America Corporation; and Wintec Co., Ltd are among the leading companies in the APAC two-way radio equipment market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,519.35 Million |
| Market Size by 2028 | US$ 2,623.53 Million |
| CAGR (2021 - 2028) | 8.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia-Pacific Two-Way Radio Equipment Market is valued at US$ 1,519.35 Million in 2021, it is projected to reach US$ 2,623.53 Million by 2028.
As per our report Asia-Pacific Two-Way Radio Equipment Market, the market size is valued at US$ 1,519.35 Million in 2021, projecting it to reach US$ 2,623.53 Million by 2028. This translates to a CAGR of approximately 8.1% during the forecast period.
The Asia-Pacific Two-Way Radio Equipment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Two-Way Radio Equipment Market report:
The Asia-Pacific Two-Way Radio Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Two-Way Radio Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Two-Way Radio Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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