Share this article Share this article ResearchAndMarkets.com's offering. According to this report the global VHF radio market was valued at US$ 3177.37 million in 2019 and is projected to reach US$ 6218.05 million by 2027; it is expected to grow at a CAGR of 8.9% from 2020 to 2027. In 2019, North America led the global VHF Radio market with decent revenue share, followed by Europe. North America constitutes developed economies, such as the US, Canada, and Mexico. North America includes developed economies, such as the US and Canada, as well as emerging economies, such as Mexico. Technological developments make North America a highly competitive market for various companies. The companies in this region are continuously developing overall business processes to meet end users' demands for high-quality products. At present, the US boasts of strong port infrastructure and maritime sector due to its substantial reliance on imported goods and notable outsourcing of manufacturing and production facilities over Asian economies. Thus, the country presently relies on numerous maritime industry-related products for seamless operations, maintenance, and industry growth.