Radio Test Set Market Size, Share, Outlook, and Opportunity Analysis, 2022-2028
A radio test set is an electrical
instrument used for maintaining, repairing, and upgrading radio systems that
operate in multiple frequency bands. The radio test set has applications in the
industrial, military, police, fire, private security, transportation,
aerospace, and other commercial sectors due to its numerous advantages such as
lightweight, compact design, minimal maintenance, and calibration costs.
The global
radio test set market is divided into North America, Europe, Asia
Pacific, Latin America, the Middle East, and Africa. In terms of revenue, North
America and Europe dominated the global radio test set market in 2018. The
presence of prominent market companies such as Aeroflex Incorporated, Keysight
Technologies, Rohde & Schwarz, Freedom Communication Technologies, and
Astronics Test Systems is primarily responsible for the growth in these
regions. These players are constantly focused on the creation of new and
enhanced radio test sets to meet the needs of the military industry. For
example, Astronics Test Systems (ATS) introduced a new addition to the PXI
Integration Platform product line in 2017.
Furthermore, due to high defence
expenditure and increasing demand for advanced radio systems in the region's
emerging economies such as China, India, and other Southeast Asian countries,
Asia Pacific emerged as the fastest growing region in terms of revenue for the
global radio test set market in 2018. According to Trading Economics, China
increased its defence spending by roughly US$ 175 billion in 2018, an increase
of 8.1% over the previous year. Furthermore, India's total military budget for
the fiscal year 2018 was US$ 43.4 billion.
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