VOL. XCIV, NO. 247
★ MOAT STOCKS & COMPETITIVE ADVANTAGES ★
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Friday, December 26, 2025
Motorola Solutions, Inc.
MSI · New York Stock Exchange
Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.
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Overview
Motorola Solutions, Inc. builds and sells a safety-and-security ecosystem spanning LMR communications, video security/access control, and Command Center software for public safety and enterprise customers. LMR is the largest revenue driver and benefits from a large installed base, standards-heavy mission-critical requirements, and sticky government procurement relationships. Command Center software embeds deeply in 911/dispatch workflows and provides interoperability across LMR and broadband networks. Video competes in a crowded market but can differentiate when sold as part of an integrated stack with communications and software. Key erosion risks include broadband-only substitutions, aggressive competitors, and regulatory interventions (e.g., the U.K. Airwave price control).
Primary segment
LMR Communications
Market structure
Oligopoly
Market share
—
HHI: —
Coverage
3 segments · 5 tags
Updated 2025-12-26
Segments
LMR Communications
Mission-critical land mobile radio (LMR) devices, infrastructure, and managed/support services
Revenue
74.9%
Structure
Oligopoly
Pricing
moderate
Share
—
Peers
Video Security & Access Control
Video security (cameras, VMS, analytics) and access control solutions
Revenue
17.7%
Structure
Competitive
Pricing
weak
Share
—
Peers
Command Center Software
Public safety command center software (911 call handling, dispatch/CAD, incident management, interoperability)
Revenue
7.4%
Structure
Competitive
Pricing
moderate
Share
—
Peers
Moat Claims
LMR Communications
Mission-critical land mobile radio (LMR) devices, infrastructure, and managed/support services
Revenue share derived from 2024 Form 10-K disaggregation of revenue table: LMR Communications total net sales $8.100B (2024).
Government Contracting Relationships
Legal
Government Contracting Relationships
Strength: 4/5 · Durability: durable · Confidence: 4/5 · 1 evidence
Public safety/government procurement is relationship-driven and often multi-year; incumbent performance history matters in awards and renewals.
Erosion risks
- Competitive rebids and RFP cycles
- Government budget tightening
- Procurement policy shifts favoring multi-vendor sourcing
Leading indicators
- Backlog / remaining performance obligations trend
- Win rate on large agency RFPs
- Net sales concentration in top government customers
Counterarguments
- Government contracts can be re-competed aggressively on price
- Agencies may standardize on open requirements to reduce vendor dependence
Installed Base Consumables
Demand
Installed Base Consumables
Strength: 4/5 · Durability: durable · Confidence: 4/5 · 1 evidence
Large installed base of radios and networks creates recurring upgrade/refresh and attached services opportunities.
Erosion risks
- Migration of some use-cases to broadband push-to-talk
- Deferred public safety capex cycles
- Standards-based interoperability enabling mixed-vendor fleets
Leading indicators
- Services attach rate on LMR deployments
- Radio/device refresh cycle timing
- LMR services revenue growth vs hardware
Counterarguments
- Customers can keep infrastructure but buy some radios from alternative vendors
- Installed base does not prevent replacement if competitor offers step-change pricing or features
Design In Qualification
Demand
Design In Qualification
Strength: 4/5 · Durability: durable · Confidence: 3/5 · 2 evidence
Standards-heavy, mission-critical requirements (e.g., P25/TETRA/DMR) plus reliability/security expectations raise qualification hurdles; switching is disruptive once deployed.
Erosion risks
- Shift to LTE/5G mission-critical voice/data
- Commoditization within standards
- Security incidents undermining trust
Leading indicators
- Adoption of broadband-only voice solutions
- Share of new deployments requiring P25/TETRA/DMR
- Product quality metrics (returns, outages, security advisories)
Counterarguments
- Other vendors offer certified standards-compliant radios
- Customers can specify interoperability requirements to avoid lock-in
Long Term Contracts
Demand
Long Term Contracts
Strength: 3/5 · Durability: medium · Confidence: 4/5 · 2 evidence
Multi-year managed services contracts (notably the U.K. Airwave network) provide visibility but are exposed to regulatory price controls and renegotiation risk.
Erosion risks
- Regulatory intervention on pricing or margins
- Termination-for-convenience clauses in services contracts
- Technology transition reducing contract duration
Leading indicators
- Airwave remaining performance obligations disclosures
- Regulatory/court decisions affecting Charge Control
- Airwave revenue and gross margin trend
Counterarguments
- Long-term contracts do not always imply pricing power when regulators intervene
- Customers may rebid or renegotiate at renewal points
Video Security & Access Control
Video security (cameras, VMS, analytics) and access control solutions
Revenue share derived from 2024 Form 10-K disaggregation of revenue table: Video total net sales $1.920B (2024).
Ecosystem Complements
Network
Ecosystem Complements
Strength: 3/5 · Durability: medium · Confidence: 4/5 · 1 evidence
Differentiation comes from being part of an integrated safety-and-security stack with LMR and Command Center, supporting cross-sell and unified workflows.
Erosion risks
- Open protocols/APIs enabling best-of-breed mixing
- Price-led competition in commodity cameras
- Geopolitical/regulatory shifts in surveillance tech
Leading indicators
- Attach rate of Video in multi-technology deals
- Software subscription mix within Video
- Gross margin trend in Video offerings
Counterarguments
- Customers often choose specialist VMS providers (e.g., Genetec/Milestone)
- Integration claims can be matched via partnerships and APIs
Brand Trust
Demand
Brand Trust
Strength: 3/5 · Durability: durable · Confidence: 4/5 · 1 evidence
Motorola's brand in safety/security and long customer collaboration can matter in regulated/public-sector and mission-critical deployments.
Erosion risks
- Brand less relevant in commoditized segments
- Adverse security/privacy incidents
- Aggressive pricing by competitors eroding premium positioning
Leading indicators
- Win rates in public safety/enterprise security bids
- Net promoter score / customer satisfaction signals
- Product cybersecurity disclosures and incident rate
Counterarguments
- In video hardware, purchasing decisions can be price/spec driven
- New entrants can win by offering superior analytics or lower TCO
Switching Costs General
Demand
Switching Costs General
Strength: 3/5 · Durability: medium · Confidence: 3/5 · 1 evidence
Physical installation plus VMS/analytics configuration can create moderate switching costs, especially when integrated with access control and incident workflows.
Erosion risks
- Standardization on ONVIF/third-party VMS reduces switching costs
- Cloud-managed camera ecosystems enabling easier migration
- Channel partners steering customers to alternatives
Leading indicators
- Renewal/retention rates on video software subscriptions
- Churn in managed video services
- Competitive displacement mentions in earnings commentary
Counterarguments
- Many deployments use interoperable components; swapping vendors may be feasible
- Some customers intentionally avoid vendor lock-in by mixing components
Command Center Software
Public safety command center software (911 call handling, dispatch/CAD, incident management, interoperability)
Revenue share derived from 2024 Form 10-K disaggregation of revenue table: Command Center total net sales $0.797B (2024).
Data Workflow Lockin
Demand
Data Workflow Lockin
Strength: 4/5 · Durability: durable · Confidence: 4/5 · 1 evidence
Command Center software sits in the middle of 911/dispatch workflows; integrations, data models, and operational procedures make switching disruptive.
Erosion risks
- Shift to cloud-native competitors with faster innovation cycles
- Procurement mandates for open data portability
- High-profile outages hurting trust
Leading indicators
- Backlog/remaining performance obligations in Software & Services
- SaaS mix and renewal rates in Command Center products
- Large CAD/RMS competitive win/loss disclosures
Counterarguments
- Customers can replace modules over time (phased migrations)
- Point solutions with open APIs can reduce lock-in
Interoperability Hub
Network
Interoperability Hub
Strength: 3/5 · Durability: medium · Confidence: 4/5 · 1 evidence
Interoperability layer connecting LMR and broadband networks can embed Motorola in multi-network communications architectures.
Erosion risks
- Industry standardization making interoperability commoditized
- Platform players (carriers/cloud) moving into interoperability
- Security vulnerabilities in interoperability gateways
Leading indicators
- Adoption of interoperability modules in new deployments
- Partnerships/standards adoption that displace proprietary gateways
- Security advisories affecting gateways
Counterarguments
- Interoperability can be delivered by specialist vendors
- Open standards can reduce differentiation over time
Suite Bundling
Demand
Suite Bundling
Strength: 3/5 · Durability: medium · Confidence: 4/5 · 1 evidence
Bundling Command Center with Motorola's LMR and Video offerings can reduce standalone competition and increase share-of-wallet in public safety accounts.
Erosion risks
- Best-of-breed preference in software buying
- Budget scrutiny leading to unbundling
- Partner ecosystems enabling competitors to bundle alternatives
Leading indicators
- Cross-sell rates between LMR/Video/Command Center
- Average deal size and multi-product penetration
- Churn in accounts using multiple Motorola modules
Counterarguments
- Customers can select best-of-breed software even if they buy Motorola radios
- RFPs can force modular bidding that limits bundling advantage
Evidence
Our largest customer is the U.S. government ... representing approximately 9% of our consolidated net sales in 2024.
Shows material government exposure where contract renewals and procurement relationships matter.
We expect continued growth within our global LMR installed base ... and provide additional services to existing LMR customers.
Explicitly links installed base expansion to incremental services opportunity.
We are a global leader ... including Project 25 (P25), ... TETRA and ... DMR.
Positions Motorola as a leading vendor across key LMR standards used in public safety and enterprise.
Public safety agencies ... trust LMR ... because they are purpose-built ... for reliability, availability, security and resiliency.
Supports reliability/security requirements that tend to favor proven, qualified vendors.
In 2023, the CMA imposed ... a prospective price control on Airwave (the "Charge Control").
Demonstrates that long-term contracts can be regulated, constraining economics.
Showing 5 of 12 sources.
Risks & Indicators
Erosion risks
- Competitive rebids and RFP cycles
- Government budget tightening
- Procurement policy shifts favoring multi-vendor sourcing
- Migration of some use-cases to broadband push-to-talk
- Deferred public safety capex cycles
- Standards-based interoperability enabling mixed-vendor fleets
Leading indicators
- Backlog / remaining performance obligations trend
- Win rate on large agency RFPs
- Net sales concentration in top government customers
- Services attach rate on LMR deployments
- Radio/device refresh cycle timing
- LMR services revenue growth vs hardware
Curation & Accuracy
This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).
Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.