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Power, modulation & SWR meters play a key role in good station performance. By monitoring your signal, a problem can be corrected before it becomes very costly. A poor SWR between the radio and antenna can severely reduce the life of the final transistors of a transceiver. The damage can be almost immediate or can be gradual. Keeping tabs on the SWR will alert you to performance issues before any damage is done.
Monitoring your modulation will keep your signal loud and clear without over modulation.
Power meters show the transmitter output power. This will tell you if the transmitter is putting out the proper power. An average reading power meter is good for monitoring AM & FM carrier power. With a whistle on sideband you will get a fairly accurate reading. A peak reading power meter will give you an accurate peak output swing on both AM and sideband as well as carrier on AM and FM.