Global Sonobuoy Market to be Driven by the Growing Maritime Industry in the Forecast Period of 2021-2026 – MENAFN.COM

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The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models. The market growth can be attributed to the robust growth of the maritime industry globally. The rising demand for sonobuoy can be attributed to the increasing consumer requirements.

Several technological innovations have led to the development of the market, including the use of sophisticated sensing, range, and directional capability. Rising security expenditure and the growing use of underground vehicles are anticipated to further boost the demand. The increased defence spending by developed countries, such as the United States of America and Europe, is expected to further propel the growth of the market. Industry Definition and Major Segments Sonobuoy refers to a SONAR portable device (Sound NAvigation and Ranging). Sonobuoy helps to detect submarines and perform more...