Motorola Solutions, Inc. (MSI)

Motorola Solutions is a Delaware-incorporated global leader in public safety and enterprise security, tracing its heritage to Motorola, Inc. (organized in 1928 in Illinois), and renamed in 2011, with headquarters in Chicago, Illinois. The company serves more than 100,000 public safety and commercial customers across over 100 countries through purpose-built solutions spanning three core technologies: Land Mobile Radio (LMR) Communications, Video Security and Access Control, and Command Center software. It operates through two reportable segments—Products and Systems Integration (63% of 2022 net sales of $5.7 billion, dominated by LMR at 82% and Video at 18%) and Software and Services (37% of 2022 net sales of $3.4 billion, comprising LMR at 67%, Command Center at 18%, and Video at 15%).

LMR offerings include two-way radio and broadband infrastructure and devices (P25, TETRA, DMR, PCR, and LTE solutions), supported by managed and support services for network monitoring, upgrades, and cybersecurity. Video technology encompasses fixed, body-worn, and in-vehicle cameras, access control, video management software, and AI-enabled analytics, including cloud offerings like Avigilon Cloud Services and video-as-a-service subscriptions. Command Center provides cloud and on-premises software supporting the full public safety workflow from 911 call to case closure, including next-generation 911 core services, dispatch, records management, and interoperability solutions such as Kodiak and WAVE PTX.

The company's strategy centers on integrating these technologies into unified systems to eliminate data silos and streamline customer workflows, exemplified by applications in school safety and other public/commercial environments. Its largest customers, the U.S. government and the UK's Home Office, each represented about 7% of 2022 consolidated net sales, with sales driven by both a direct sales force and a global channel partner network of dealers, distributors, and software vendors. The company faces broad competition across its three technology areas from firms including L3Harris, Hytera, Axis Communications, Hikvision, Genetec, Axon Enterprise, CentralSquare Technologies, and others.

As of December 31, 2022, total backlog stood at $14.3 billion ($4.9 billion in Products and Systems Integration and $9.4 billion in Software and Services), with roughly 60% and 25% of each segment's backlog, respectively, expected to convert to revenue in 2023. The company has also pursued an active acquisition strategy, including Rave Mobile Safety, Ava Security, Openpath Security, Envysion, Calipsa, TETRA Ireland, and others, to expand its Video, Command Center, and LMR capabilities.