The Handheld Marine Radio market industry Size was valued at USD 1.7 billion in 2022. The Handheld Marine Radio Market is projected to grow from USD 1.8 billion in 2023 to USD 3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2024 - 2032). Growing maritime activities, a focus on safety and communication at sea, and developments in radio technology for marine applications are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rise in nautical activities worldwide is driving the handheld marine radio market. Reliable communication technologies at sea are more important than ever due to the growing offshore exploration and production activities, the shipping industry's expansion, and the growing demand for recreational boating. In order to improve coordination, provide smooth communication between vessels, and guarantee the safety of maritime activities, handheld marine radios are essential. The need for effective and rapid communication in the dynamic and frequently difficult maritime environment is predicted to fuel an increase in demand for these radios as trade volumes rise and new shipping routes become available.
In the marine industry, safety is still the priority, and regulatory agencies throughout the globe are stressing the importance of having reliable communication systems on board. In order to improve search and rescue efforts, ensure prompt and efficient communication in an emergency, and adhere to international maritime rules, handheld marine radios are vital equipment. The adoption of dependable communication technology is required by the International Maritime Organization (IMO) and other regulatory bodies, which supports the expansion of the market. The Market CAGR is expanding as a result of the increasing need for sophisticated portable marine radios with features like digital selective calling (DSC), GPS, and emergency alert capabilities as maritime safety regulations change.
The continuous development of radio communication technologies designed specifically for maritime use is driving the market for handheld marine radios. The increasing popularity of these gadgets can be attributed to innovations, including improved battery economy, digital radio technology, and integration with safety and navigation capabilities. The goal of manufacturers is to create robust, long-lasting radios that can endure the challenging conditions found at sea. Additionally, the accuracy and dependability of handheld marine radios are improved by the incorporation of Global Navigation Satellite System (GNSS) technology. The market for portable marine radios is expected to gain from innovative solutions that meet the changing needs of maritime users, such as enhanced communication range, crystal-clear audio quality, and seamless connectivity, as long as the industry continues to see significant technological advancements. Thus driving the Handheld Marine Radio market revenue in the years to come.
The Handheld Marine Radio Market segmentation, based on type, includes UHF and VHF. In the market for handheld marine radios, the VHF category is the largest. The fundamental benefits of VHF frequency for marine communication are responsible for this dominance. VHF radios are perfect for maritime applications because they have superior signal propagation over water and work well for short- to medium-range communication. The demand is further fueled by the international legislative requirement that vessels be equipped with VHF radios for safety and navigational purposes. Furthermore, there is less interference because the VHF frequency is reserved especially for maritime communication. The VHF segment continues to be the main driver of the growth of the handheld marine radio market due to the continued mandates of maritime safety rules regarding the usage of VHF radios, as well as their dependable performance in both coastal and open-sea conditions.
The Handheld Marine Radio Market segmentation, based on Application, includes Fishery, Transport, Leisure and Recreation, and Others. The fishery is the biggest market sector for handheld marine radios. The fishing sector relies heavily on handheld marine radios for coordination and communication, which is the main factor contributing to their supremacy. These gadgets help increase operating effectiveness and safety at sea by providing fishermen with real-time communication, weather updates, and emergency support. In the Fishery area, the requirement for dependable communication technologies increases in tandem with the growth of commercial fishing operations and the rising global demand for seafood. The Fishery application is a major factor propelling the market's expansion, and regulatory restrictions and safety standards for fishing vessels also contribute to the ongoing need for portable marine radios.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominates the Handheld Marine Radio Market due to the region's developed marine industry, strict safety requirements, and rapid adoption of cutting-edge communication technology. Handheld marine radios are in high demand due to the region's active fishing, shipping, and recreational boating industries. Furthermore, the North American market is growing due to the existence of well-established producers and an emphasis on technical innovation.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's handheld marine radio market accounts for the second-largest market share due to Its strong maritime presence, including major commercial shipping, fisheries, and a growing recreational boating industry. Handheld marine radios are becoming more and more popular because of strict regulatory frameworks, such as those set by the European Union and national maritime authorities, which require the use of dependable communication systems. The region's focus on standards for navigation and maritime safety supports the European market's need for these devices. Further, the German Handheld Marine Radio market held the largest market share, and the UK Handheld Marine Radio market was the fastest-growing market in the European region.
The Asia-Pacific Handheld Marine Radio Market is expected to grow at the fastest CAGR from 2023 to 2032. The growing fishing industry, rising trade volumes, and expanding maritime activities are driving the handheld marine radio market's quickest growth in the Asia-Pacific region. Demand for handheld marine radios is higher in the area due to expanding economies, increased disposable incomes, and an increase in recreational and leisure boating. The market in Asia-Pacific is expanding rapidly due to governmental initiatives aimed at improving maritime safety standards and the adoption of new communication technologies. As a result, investors and industry players are placing a lot of emphasis on this region. Moreover, China’s Handheld Marine Radio market held the largest market share, and the Indian Handheld Marine Radio market was the fastest-growing market in the Asia-Pacific region.
Leading market players in the handheld marine radio industry compete fiercely to dominate the market. Market participants are undertaking important market developments such as concentrating on technology innovations, strategic alliances, and new product innovation. The goal of ongoing research and development is to improve the usefulness, robustness, and safety aspects of handheld marine radios. Furthermore, corporations are broadening their range of products to accommodate various uses in the marine domain, such as fishing, transportation, and leisure boating in the Handheld Marine Radio industry.
Companies operating in the global Handheld Marine Radio industry are also participating in strategic alliances and acquisitions to bolster their market share and broaden their worldwide footprint. Customer service, distribution networks, and pricing tactics will all become increasingly important in the Handheld Marine Radio industry. Major players in the Handheld Marine Radio market include GME, Cobra, Entel, Uship, Japan Radio Co., Ltd., Icom Incorporated, Jotron, Simrad, Seas Of Solutions, Canepa & Campi Srl, ACR Electronics, Inc., Standard Horizon, Samyung ENC, and Ocean Signal Ltd.
GME is an industry leader in the production of radio communication apparatus in Australia, with a particular focus on land-based and marine communication solutions. It is a division of Standard Communications Pty Ltd. GME is well known for manufacturing high-quality EPIRBs (Emergency Position Indicating Radio Beacons), handheld marine radios, and other safety gear. The company has a storied history spanning more than six decades. The company is now recognized as a reliable supplier in the international maritime market thanks to its dedication to innovation, tough design, and adherence to international standards.
American-based Cobra Electronics Corporation is a well-known player in the communication and consumer electronics sectors. Cobra is a multi-product company that specializes in creating innovative communication and navigation solutions. Some of the items it offers are CB radios, handheld maritime radios, and radar detectors. Cobra, a company well-known for its cutting-edge technology and approachable designs, is trusted to provide dependable and cutting-edge communication solutions. Cobra is a well-known brand in the land-based and marine communication sectors, thanks to the company's focus on developing solutions that improve ease and safety.
September 2021: The IC-M510, a sophisticated and fashionable VHF/DSC marine radio that can be controlled by a smartphone with the RS-M500 app (iOS/Android), will be released by Icom. Through the WLAN on the radio, up to three smartphones can function as remote controllers. You can even have a communication feature between your smartphone and the radio.
August 2023: The new IC-M410BB and IC-M510BB Black Box VHF Radios with Multi-Station Control were introduced by Icom, a manufacturer of marine radios and handheld VHF radios. According to the manufacturer, these marine radios provide improved flexibility and usefulness for communication on board a variety of watercraft.
August 2018: The Uniden Marine Division introduces the MHS335BT VHF marine radio with private text messaging capability. With the most cutting-edge features and reliable performance for increased peace of mind on the water, Uniden's array of radios is expanded with the 6-watt Class D floating portable VHF marine radio with Bluetooth.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.7 Billion |
| Market Size 2023 | USD 1.8 Billion |
| Market Size 2032 | USD 3 Billion |
| Compound Annual Growth Rate (CAGR) | 5.5% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | General Mills Inc., Amway, Conagra Brands Inc., Cargill Incorporated, Abbott Laboratories, Kraft Foods Group Inc., The Coca-Cola Company, PepsiCo Inc., Atkins Nutritionals Inc., and Brunswick Corporation |
| Key Market Opportunities | ·      Increasing shipping industry activities ·      Rise in demand for recreational boating ·      Expansion of offshore exploration and production activities |
| Key Market Dynamics | ·      Ongoing innovations in digital radio technology ·      Integration of advanced features like GPS and digital selective calling (DSC) |
Frequently Asked Questions (FAQ) :
The Handheld Marine Radio Market size was valued at USD 1.7 Billion in 2022.
The global market is projected to grow at a CAGR of 5.5% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market are GME, Cobra, Entel, Uship, Japan Radio Co., Ltd., Icom Incorporated, Jotron, Simrad, Seas Of Solutions, Canepa & Campi Srl, ACR Electronics, Inc., Standard Horizon, Samyung ENC, and Ocean Signal Ltd.
The VHF category dominated the market in 2022.
The Fishery had the largest share in the global market.
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Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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