What is the current market size and future outlook for the marine radio market?
The marine radio market size has grown strongly in recent years. It will grow from $1.85 billion in 2024 to $2.03 billion in 2025 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to regulatory compliance, increasing search and rescue support, enhancing situational awareness with AIS, radar, and GPS integration, facilitating rapid response to distress calls and coordinating rescue operations, increasing use of DSC technology.
The marine radio market size is expected to see strong growth in the next few years. It will grow to $2.89 billion in 2029 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing procurement of advanced naval vessels, increasing demand for accurate and reliable communication, increasing demand as the maritime industry, rising demand for compact and lightweight radio equipment, increasing popularity of recreational boating and water sports. Major trends in the forecast period include adoption of advanced technology in marine communication systems, development of advanced marine radios, advancements offer improved safety, efficiency, and communication reliability, integration of digital selective calling (DSC), adoption of signal processing techniques.
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What are the key drivers behind the rapid expansion of the marine radio market?
The increasing maritime transportation is expected to propel the growth of the marine radio market going forward. Maritime transportation refers to moving goods, people, or services via waterways, such as oceans, seas, rivers, or canals. This maritime transportation is increasing due to global trade expansion, urbanization, economic development, the rise of e-commerce, environmental regulations, and sustainability. Marine radios are used as indispensable tools for ensuring safety, navigation, and communication in maritime transportation, helping to prevent accidents, facilitate efficient operations, and save lives in emergencies. Maritime transportation relies significantly on marine radios for communication, navigation, safety, and operational efficiency, fueling the demand for marine radio equipment and technologies. For instance, in July 2024, according to reports shared by Welcome to GOV.UK, a UK-based public sector information website, in 2022, a total of 458.9 million metric tons of cargo were handled at all UK ports, a 3% increase from 2021. Therefore, increasing maritime transportation is driving the growth of the marine radio market.
What is the segmentation for the marine radio market?
The marine radio market covered in this report is segmented –
1) By Type: Fixed Mount, Handheld
2) By Frequency Band Range: Low-Band VHF (49-108 MHz), High-Band VHF (169-216 MHz), Low-Band UHF (450-806 MHz), High-Band UHF (900-952 MHz)
3) By Modulation Technique: Amplitude Modulation (AM), Frequency Modulation (PF), Phase Modulation (PM), Spread Spectrum Modulation
4) By Application: Fishery, Transport, Leisure And Recreation, Other Applications
Subsegments:
1) By Fixed Mount: Single Sideband (SSB) Radios, VHF (Very High Frequency) Radios, MF Or HF (Medium Frequency Or High Frequency) Radios, DSC (Digital Selective Calling) Radios, AIS (Automatic Identification System) Radios
2) By Handheld: VHF Handheld Radios, Waterproof Handheld Radios, Compact Handheld Radios, Portable AIS Handheld Radios, Satellite Handheld Radios
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Marine Radio Market Insights And Share Report 2025-2034
Who are the most influential companies in the marine radio market?
Major companies operating in the marine radio market are Raytheon Technologies Corporation, Thales Group, SEA COM Corp., Garmin Ltd., Entel Group, JVC Kenwood Holdings Inc., Cobham plc, Kongsberg Maritime AS, Teledyne FLIR LLC, Furuno Electric Co. Ltd., Navico Group, Icom Inc., Uniden America Corporation, Cobra Electronics Corporation, Jotron AS, SRT Marine Systems plc, Samyung ENC Co. Ltd., Raymarine, Standard Horizon, Ocean Signal Ltd., SAILOR, Danelec Marine A/S, 2CL Communications Ltd., Japan Marine Engineering, Fujian Fujitsu Communication Software Co. Ltd., McMurdo Group (A division of Orolia), Weatherdock AG, Comrod Communication AS, Lars Thrane A/S, Radio Holland
What are the most influential trends expected to drive the marine radio market forward?
Major companies operating in the marine radio market are developing innovative solutions such as IP-M60 Marine VHF/LTE Hybrid Radio to facilitate communication between vessels at sea. IP-M60 Marine VHF/LTE Hybrid Radio is a versatile communication device tailored for maritime use, providing both traditional VHF radio communication and modern LTE connectivity in a single unit. For instance, in November 2023, Icom Inc., a Japan-based company that manufactures radio transmitting and receiving equipment, launched Marine VHF+LTE Hybrid Transceiver, designed for maritime communication. This transceiver combines traditional VHF radio functionality with LTE (Long-Term Evolution) capabilities, allowing seamless communication over both short and long distances. It enhances safety on the water by providing reliable voice and data transmission, even in remote areas where VHF signals may be weak. The device features advanced technologies for improved clarity and range, making it ideal for both recreational and commercial maritime users. Its hybrid design ensures that users can stay connected, regardless of the communication environment.
What are the major regional insights for the marine radio market, and which region holds the top position?
North America was the largest region in the marine radio market in 2024. The regions covered in the marine radio market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Marine Radio Market Report 2025 Offer?
The marine radio market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A marine radio is a communication device designed explicitly for watercraft, boats, ships, and other maritime vessels for ship-to-ship and ship-to-shore communication, distress signaling, and emergency response coordination. These radios are essential tools for communication and safety at sea, allowing sailors, captains, and maritime authorities to communicate with each other, nearby vessels, and shore-based stations.
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Marine Radio Market Insights And Share Report 2025-2034
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