Recent report published by research nester titled “China Navigation Speed Log Market: China Demand Analysis & Opportunity Outlook 2024”delivers detailed overview of the China navigation speed log market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The China navigation speed log market is segmented by type which includes doppler speed log, electromagnetic speed log, pitometer speed log and acoustic correlation log. Further, doppler speed log segment by type is sub-segmented into single axis doppler speed log and dual axis doppler speed log. Among these segments, dual axis doppler speed log segment is likely to grow at remarkable pace over the forecast period owing to improved performance and working of dual axis doppler speed log as compared to other speed logs.
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China navigation speed log market is expected to register a remarkable CAGR by the end of 2024. Moreover, the market of navigation speed log in China is primarily driven by presence of large base of merchant fleet in China. Apart from this, manufacturing of new ships and up gradation in existing watercrafts are estimated to intensify the growth of China Navigation Speed Log Market in upcoming years.
Submarines segment by application is likely to amplify at notable pace over the forecast period in China. Rising tensions between china and neighbor countries has led china to strengthen their naval power. Apart from this, increasing order of new ships is also expected to drive the growth of China navigation speed log market in upcoming years. China exported 8 attack submarines to Pakistan in 2016.
Growing Shipbuilding Industry
China shipbuilding industry witnessed substantial growth in 2016. Further, growth in China shipbuilding industry is fostering the market of navigation speed log in China. Moreover, 35.6% share of global market in completion of ships and 65.2% share of global market in order of new ships were registered in 2016 in China.
Water Transportation
China has more than 75,000 miles of navigable inland waterways. Further, water transportation industry in China is in developing condition and is seeking for enhancements in upcoming years. Further, presence of extensive water transportation system in China is anticipated to drive the growth of China navigation speed log market in near future.
Although, recent decline in China waterborne trading is a major factor which is likely to hamper the growth of the navigation speed log market in the near future.
This report also provides the existing competitive scenario of some of the key players of the China navigation speed log market which includes company profiling: Nanjing Ninglu Technology Co. Ltd., Raytheon Anschütz GmbH, Furuno Ltd., and Yokogawa Denshikiki Co. Ltd.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the China navigation speed log market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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