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New Sound Navigation and Ranging (SONAR) System Market Research Highlights Recovery Path for Businesses from COVID-19 based on Types - Passive SONAR and Active SONAR| TechnavioThe new Sound Navigation and Ranging (SONAR) System Market Research from Technavio indicates Negative and Inferior growth in the short term as the business impact of COVID-19 spreads. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200914005689/en/ Technavio has announced its latest market research report titled Global Sound Navigation and Ranging (SONAR) System Market 2020-2024 (Graphic: Business Wire) "One of the primary growth drivers for this market is the increased demand for technology transfer options," says a senior analyst at Technavio. The importance of undersea capabilities to national security is rising among countries. Additionally, it is important for countries to nurture partnerships and involve in collaborative efforts for the design and development of submarines and its associated components. Both developing and developed nations are in the process of establishing strategic partnerships with technology providers and OEMs for the procurement of enhanced submarines with abilities to respond to the changing nature of undersea warfare. Such partnerships play an essential role in ensuring enhanced platforms with superior weapon and combat systems onboard. For instance, the defense ministries of Japan and the UK signed an agreement for the transfer of defense equipment. This has resulted in the commencement of numerous defense projects, including force and platform protection and air defense systems. These increasing collaborative efforts will substantially help regional and domestic sonar technology providers in serving customers in different geographical locations, which, in turn, will propel the SONAR system market. As the markets recover Technavio expects the sound navigation and ranging (SONAR) system market size to grow by USD 1.01 billion during the period 2020-2024. Get detailed insights on COVID-19 pandemic Crisis and Recovery analysis of sound navigation and ranging (SONAR) system market. Download free report sample Sound Navigation and Ranging (SONAR) System Segment Highlights for 2020
Regional Analysis
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Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Coverage Regions Covered Topics Covered
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