Navigation Speed Log Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

Navigation Speed Log Market

Navigational speed log is a navigation tool which is used to measure longitudinal and transversal speed of the ship with respect to sea bed and water. Navigation speed log provides accurate data as measured in a logical way. Further, speed logs are run with electric power. A speed log also provides data of water speed and distance traveled.

Market Size & Forecast

Global navigational speed log market is anticipated to grow at a robust pace during the forecast period i.e. 2017-2024. Factors such as rise in number of marine ships coupled with growing ocean trading activities all across the world are expected to foster the growth of global navigation speed log market during the forecast period.

In terms of geography, Asia Pacific is the largest market of navigation speed logs and is anticipated to experience a remarkable growth during the forecast period. Additionally, China, Japan, India and Singapore countries own large number of ships. Further, China, Japan, India & Singapore are expected to be the major contributors to the growth of navigation speed log market in Asia Pacific region during the forecast period.

Europe is the second leading market of navigation speed log. Further Europe navigation speed log market is expected to expand during the forecast period owing to growing seaborne trading activities in this region. Further, Germany and Greece are the dominating the Europe navigation speed log market due to large number of merchant vessels in these countries.

Moreover, North America navigation speed log market is likely to expand at a significant pace during the forecast period. Favorable government initiatives to strengthen their navy forces are the major factor which is augmenting the demand for navigation speed logs in war ships and submarines.  

By application, ships and merchant vessels segments are anticipated to witness significant demand for navigation speed logs during the forecast period.

Market Segmentation

Our-in depth analysis of the global navigation speed log market includes the following segments:

By Type

• Single Axis Doppler Speed Log
• Dual Axis Doppler Speed Log
• Dual Axis Electromagnetic Speed Log
• Single Axis Electromagnetic Speed Log
• Pitometer Speed Log
• Acoustic Correlation Log

By Application

• Ships
• Submarines
• Merchant Vessels
• Boats
• Yacht
• Others

By Region

Global navigation speed log market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, Turkey, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
• Middle East and Africa (GCC, Israel, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers & Challenges

Global navigation speed log market is primarily driven by growing ocean trading activities all across the globe. Further, increasing application of navigation speed log in the ships due to need for continues tracking of data include speed, distance and other data is also a major factor which is likely to drive the growth of global navigation speed log market.

Furthermore, rising prevalence of merchant vessels for transportation purposes is also a major factor which is fostering the growth of global market. Additionally, favorable government initiatives to strengthen their naval forces are augmenting the number of warships and submarines in the ocean. This rise in number of ships and submarines is a key factor which is bolstering the growth of navigation speed log market.

Furthermore, growing water traffic due to raise in ocean tourism activities is anticipated to foster the growth of maritime industries. Further, this growing maritime industry is also expected to foster the demand for navigation speed log market during the forecast period.   

However, error occurred in navigation speed logs due to factors such as change in ship motion, due to rolling and pitching, due to inaccuracy in measurement of comparison frequency is a major challenge confronting the global market of navigation speed log market. Moreover, this factor is projected to dampen the growth of global market in near future.

Key Players

• Raytheon Anschütz GmbH
  • Company Overview
  • Key Product Offerings
  • Business Strategy
  • SWOT Analysis
  • Financials
• Echomaster Marine Ltd.

• Aeronautical & General Instruments Ltd.
• Consilium AB
• Skipper Electronics AS
• Furuno
• Wartsila SAM Electronics
• Electronics Navigation Ltd.
• Sperry Marine

Scope & Context

Overview of the Parent Market

Analyst View

Segmentation

The global navigation speed log market is segmented as follows:

• By Type Market Size & Y-O-Y Growth Analysis
• By Application Market Size & Y-O-Y Growth Analysis
• By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment