Growing World Seaborne Trade is Likely to Drive the Growth of Navigation Speed Log Market in Future
The global navigation speed log market is segmented into type such as single axis doppler speed log, dual axis doppler speed log, dual axis electromagnetic speed log, single axis electromagnetic speed log, pitometer speed log and acoustic correlation log. Among these segments, dual axis doppler speed log segment is expected to grow at a significant pace over the forecast period. Further, high accurate speed measurement, temperature display and user friendly programmable displays are some of the features of dual axis doppler speed log which are escalating the growth of this segment. Global navigation speed log market is expected to register a remarkable CAGR over the forecast period. Moreover, the market is growing on the back of rising shipping industry across the globe. Countries are focusing towards strengthen of their naval. Further, expansion of merchant fleet of countries such as Greece, Japan and China is escalating the demand for navigation speed log. Furthermore, technologi...