Technology & Telecommunications

Two-Way Radios: Market Size, Growth & Forecast to 2030

The Two-Way Radios market is valued at about $11.6 billion (2026) and is projected to grow at a 7.2% CAGR through 2030. The largest cost driver is Electronic Components and Semiconductors (35% of spend). North America leads demand at 40%.

Market size
$11.6 bn (2026)
CAGR to 2030
+7.2%
Buyer power
Favours buyers
Tracked suppliers
25

Projected market growth to 2030

Market size index, 2026 = 100, at the 7.2% CAGR.

1421281141001002026107.22027114.92028123.22029132.12030141.62031

Cost structure

Electronic Components and Semiconductors
35%
Plastic and Metal Housings
15%
Lithium-Ion Batteries
15%
Assembly and Labor
20%
Logistics and Compliance Testing
15%

Regional demand split

North America demand
40%
Europe demand
25%
Asia Pacific demand
20%
Rest of world demand
15%

Key suppliers

Motorola SolutionsL3Harris TechnologiesKenwood (JVCKENWOOD Corporation)Icom IncorporatedHytera CommunicationsSepura
Read the full Two-Way Radios report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/two-way-radios