Radio Navigation Apparatus Market

The global radio navigational aid apparatus market is projected to see a continuous increase in consumption, production, imports, and exports over the next eight years. The market is expected to grow with a CAGR of +2.1% in volume and +4.2% in value from 2022 to 2030. Key consuming countries include China, the United States, and the Philippines, while major producers include China, the Philippines, and the United States. Import and export trends show China as the largest exporter and the United States as a key importer. Overall, the market is forecasted to expand steadily, providing opportunities for industry players to capitalize on these trends.

Market Forecast

Driven by increasing demand for radio navigational aid apparatus worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 233M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $104.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Radio Navigational Aid Apparatus

Global radio navigation apparatus consumption was estimated at 198M units in 2022, remaining relatively unchanged against 2021. The total consumption volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.

The global radio navigation apparatus market size expanded markedly to $75.4B in 2022, surging by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the global market reached the peak level at $77.5B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (40M units), the United States (27M units) and the Philippines (18M units), with a combined 43% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the Philippines (with a CAGR of +23.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest radio navigation apparatus markets worldwide were the United States ($14.3B), Germany ($11B) and India ($7.6B), together comprising 44% of the global market. France, China, Japan, Indonesia, South Korea, the Philippines, Mexico, Brazil, Italy and Spain lagged somewhat behind, together accounting for a further 19%.

Among the main consuming countries, the Philippines, with a CAGR of +18.4%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of radio navigation apparatus per capita consumption in 2022 were the Philippines (159 units per 1000 persons), Japan (101 units per 1000 persons) and Germany (88 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the Philippines (with a CAGR of +21.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Radio Navigational Aid Apparatus

In 2022, production of radio navigational aid apparatus increased by 2.3% to 192M units, rising for the eighth year in a row after two years of decline. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 11% against the previous year. Global production peaked in 2022 and is expected to retain growth in years to come.

In value terms, radio navigation apparatus production fell slightly to $43.5B in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 16% against the previous year. Over the period under review, global production hit record highs at $45.3B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (48M units), the Philippines (28M units) and the United States (17M units), with a combined 49% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by the United States (with a CAGR of +63.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Radio Navigational Aid Apparatus

In 2022, supplies from abroad of radio navigational aid apparatus increased by 12% to 90M units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 30% against the previous year. Over the period under review, global imports hit record highs at 90M units in 2012; afterwards, it flattened through to 2022.

In value terms, radio navigation apparatus imports expanded rapidly to $9.9B in 2022. Overall, imports, however, continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 9.7% against the previous year. Global imports peaked at $13.3B in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, China (22M units), distantly followed by the United States (11M units), Japan (7.7M units) and Italy (4.6M units) represented the major importers of radio navigational aid apparatus, together committing 50% of total imports. India (3.3M units), Brazil (3.3M units), the UK (3.1M units), Taiwan (Chinese) (2.8M units), Hong Kong SAR (2.3M units), the Netherlands (2.2M units), Mexico (2.1M units), Hungary (2.1M units) and Germany (2.1M units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +48.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.4B), Japan ($1B) and China ($903M) were the countries with the highest levels of imports in 2022, with a combined 34% share of global imports. Germany, the UK, the Netherlands, India, Italy, Brazil, Hungary, Mexico, Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 31%.

In terms of the main importing countries, India, with a CAGR of +32.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average radio navigation apparatus import price amounted to $110 per unit, which is down by -6.2% against the previous year. Over the period under review, the import price showed a perceptible contraction. The growth pace was the most rapid in 2018 an increase of 4.2%. Over the period under review, average import prices hit record highs at $148 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($357 per unit), while Taiwan (Chinese) ($34 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Radio Navigational Aid Apparatus

In 2022, shipments abroad of radio navigational aid apparatus increased by 16% to 84M units, rising for the second year in a row after five years of decline. Overall, exports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 18% against the previous year. The global exports peaked at 123M units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, radio navigation apparatus exports rose slightly to $9B in 2022. In general, exports, however, continue to indicate a pronounced decrease. The growth pace was the most rapid in 2016 when exports increased by 11%. The global exports peaked at $12.8B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

China represented the largest exporter of radio navigational aid apparatus in the world, with the volume of exports recording 30M units, which was approx. 36% of total exports in 2022. The Philippines (11M units) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (9.8%), Hungary (5%) and Hong Kong SAR (4.9%). Israel (3.7M units), Vietnam (3.3M units), Poland (2.4M units), the United States (1.9M units), India (1.7M units) and Mexico (1.4M units) took a minor share of total exports.

Exports from China increased at an average annual rate of +1.8% from 2012 to 2022. At the same time, the Philippines (+220.1%), Vietnam (+118.3%), India (+68.6%), Hungary (+48.5%), Poland (+40.6%) and Israel (+23.5%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in the world, with a CAGR of +220.1% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-3.1%), Mexico (-8.7%) and Taiwan (Chinese) (-17.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, the Philippines, Hungary, Israel, Vietnam, Poland and India increased by +15, +13, +5, +4, +3.9, +2.8 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.6B), the United States ($911M) and Vietnam ($529M) were the countries with the highest levels of exports in 2022, with a combined 33% share of global exports. Taiwan (Chinese), Poland, Hungary, the Philippines, Mexico, India, Hong Kong SAR and Israel lagged somewhat behind, together accounting for a further 26%.

The Philippines, with a CAGR of +179.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average radio navigation apparatus export price amounted to $107 per unit, reducing by -12.3% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 32% against the previous year. As a result, the export price attained the peak level of $155 per unit. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($470 per unit), while Israel ($10 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+6.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform