Marine Radio Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

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.

The escalating trend in maritime transportation is poised to propel growth within the marine radio market in the foreseeable future. Maritime transportation, encompassing the movement of goods, individuals, or services via waterways such as oceans, seas, rivers, or canals, is on the rise owing to various factors including global trade expansion, urbanization, economic development, the surge in e-commerce, environmental regulations, and sustainability initiatives. Within this context, marine radios emerge as indispensable tools, vital for ensuring safety, navigation, and communication in maritime operations. These radios play a pivotal role in accident prevention, operational efficiency enhancement, and lifesaving endeavors during emergencies. Given the significant reliance of maritime transportation on marine radios for communication, navigation, safety, and operational efficacy, there exists a growing demand for marine radio equipment and technologies. For instance, data from reports shared by GOV.UK, a UK-based public sector information website, highlighted that in 2022, a total of 458.9 million metric tons of cargo were handled at all UK ports, marking a 3% increase from 2021, underscoring the role of increasing maritime transportation in driving growth within the marine radio market.

Major companies in the marine radio market are innovating with advanced solutions like the IP-M60 Marine VHF/LTE Hybrid Radio to improve communication between vessels at sea. This hybrid radio combines traditional VHF (Very High Frequency) communication with modern LTE (Long-Term Evolution) connectivity, offering enhanced versatility. For example, in November 2023, Icom Inc., a Japan-based company specializing in radio communication equipment, launched the Marine VHF+LTE Hybrid Transceiver. This transceiver merges VHF radio with LTE capabilities, ensuring reliable communication both over short and long distances. The device enhances maritime safety by offering stable voice and data transmission, even in areas where VHF signals are weak. Its advanced technology improves both clarity and range, making it suitable for both recreational and commercial maritime use. The hybrid design ensures continuous connectivity, adapting to various communication environments, and ultimately supporting seamless maritime operations.

In January 2022, Garmin Ltd., a US-based technology company, executed the acquisition of Vesper Marine Ltd., marking a strategic move towards leadership in marine technology. Through this undisclosed acquisition, Garmin aimed to consolidate its position as a premier provider of navigation, communication, and safety equipment for boaters, thereby offering an integrated solution. This acquisition also aimed to enrich Garmin's marine product portfolio and technology offerings, empowering boaters with enhanced peace of mind and situational awareness. Vesper Marine Ltd., based in New Zealand, is renowned for its marine asset protection and collision avoidance technology, encompassing marine safety products including marine radios.

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.

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. The countries covered in the marine radio market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The marine radio market consists of sales of marine VHF radios, marine GPS systems, single-sideband (SSB) radios, digital selective calling (DSC) radios, handheld marine radios, marine radio antennas, and marine autopilots. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

A marine radio is a specialized communication device crafted explicitly for watercraft, boats, ships, and other vessels navigating maritime waters. Its primary functions include facilitating ship-to-ship and ship-to-shore communication, distress signaling, and coordination during emergency responses. These radios serve as indispensable tools for ensuring communication and safety at sea, enabling sailors, captains, and maritime authorities to exchange information with nearby vessels and shore-based stations.

The main categories of marine radios include fixed-mount and handheld variants. Fixed-mount marine radios are permanently installed aboard boats and ships, typically positioned in specific locations such as control panels or dashboards. They operate within frequency bands ranging from low-band VHF (49-108 MHz) to high-band VHF (169-216 MHz), low-band UHF (450-806 MHz), and high-band UHF (900-952 MHz). These radios utilize various modulation techniques such as amplitude modulation (AM), frequency modulation (FM), phase modulation (PM), and spread spectrum modulation. They find applications across diverse sectors including fisheries, transportation, leisure and recreation, among others.

The marine radio market research report is one of a series of new reports that provides marine radio market statistics, including marine radio industry global market size, regional shares, competitors with a marine radio market share, detailed marine radio market segments, market trends and opportunities, and any further data you may need to thrive in the marine radio industry. This marine radio market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.