Degaussing System Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

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The global market value of the degaussing system market was valued at USD 9.9 billion in 2023, and a CAGR of 6.7% is expected during the forecast period. Increasing demand for reducing the impact of magnetic signatures is driving growth in the market significantly. As naval defense and security become more crucial, military organizations invest in degaussing systems to protect ships from magnetic mines and other threats.

Upgrading naval fleets with advanced technology, including degaussing systems, is a priority for many countries. Innovations in degaussing technology enhance performance, reliability, and integration, boosting market growth significantly. Increased maritime activities are driving growth in the market. The Russia-Ukraine war had a significant impact on the market.


Growth Drivers

Applications in commercial shipping and offshore platforms for reducing magnetic signatures and protecting equipment contribute to market expansion. Increasing emphasis on enhancing performance, reliability, and integration is boosting market growth significantly. Compliance with international regulations and standards for naval vessels and maritime security encourages the adoption of advanced degaussing solutions. The rising threat of naval mines is expected to grow the market significantly. Rising demand for advanced degaussing systems is driving growth in the market significantly.

Russia-Ukraine War Impact

Conflict has prompted increased defense spending among nations, particularly in Europe, leading to higher demand for advanced degaussing systems. War has highlighted the importance of naval defense and protection against threats like magnetic mines, driving the investment in degaussing systems market. Conflict has negatively impacted the global supply chain. Potentially leading to delays and increased cost for degaussing system components and materials. Heightened geopolitical tensions and security concerns have led to reevaluation of defense strategies and investments. The need for advanced military solutions all over the world is driving growth in the market significantly. War has created opportunities for growth in the degaussing systems market.

Segmentation

By End-User

·         OEM

·         Aftermarket

·         Service

By Solution

·         Degaussing

·         Deperming

·         Ranging

By Component Type

·         Power Supplying

·         Degaussing Coils

·         Control Units

·         Monitoring Systems

·         Others

By Vessel Types

·         Amphibious Ships

·         Destroyers

·         Frigates

·         Landing Crafts

·         Off-Shore Patrol Vessel

·         Mine Warfare/ Countermeasure

·         Submarine

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Degaussing Systems Market by End-User Segmentation

On the basis of the end-user, the degaussing system market is segmented into OEM, aftermarket, and service. OEM is the leading segment in the market, and After Market is expected to dominate the market significantly during the forecast period due to the fact that OEMs are responsible for integrating and installing the degaussing systems into new ships, which is high in demand. OEMs are responsible for incorporating the latest technology in degaussing systems. Due to the expansion of naval defense capabilities, the market is expected to grow significantly during the forecast period. Emerging maritime surveillance and increasing government initiatives are driving growth in the market significantly.

Aftermarket deals with the sale of components, parts, maintenance services, upgrades, and support for magnetic silencing systems after they have been initially installed or delivered. Increasing demand for calibration and maintenance to determine the system configuration is driving market growth significantly.


Degaussing Systems Market by Vessel Type Segmentation

On the basis of the vessel type, the degaussing systems market is segmented into amphibious ships, destroyers, frigates, landing crafts, off-shore patrol vessels, mine welfare/countermeasure, submarines, and others. Offshore patrol vessels are the leading segment in the market, and increasing demand for coastal defense services is driving growth in the market significantly. Increasing demand to protect smuggling, countering terrorism, and providing disaster relief are the key factors behind the significant growth in the market. The Frigates segment is also expected to grow fast during the forecast period because it protects other ships in fleets, merchant ships, amphibious expeditionary forces, and others from threats emanating from the sea, and it is blessed with stealth capabilities.

Regional Outlook

On the basis of the regions, the degaussing systems market is segmented into 5 regions: Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. Asia Pacific is the leading segment and is expected to dominate during the forecast period due to the presence of major fleets in the region. Europe captured the second-largest place in the market. Many countries in the Asia Pacific region, such as China, Australia, India, and Japan, are increasing their defense budgets to modernize their naval fleets and enhance maritime security.

Nations in this region are enhancing and upgrading their naval capabilities, including the acquisition of advanced degaussing systems to protect against magnetic threats significantly. Rapid industrial development in countries like China and India leads to increased investments in defense technologies, including degaussing systems. Many countries are modernizing their naval fleets to meet current and future security challenges, which includes the adoption of advanced degaussing technologies. Ongoing regional conflicts and territorial disputes prompt nations to invest in advanced defense systems to secure their maritime interests.

North America and Canada have degaussing substantial naval forces that required advanced degaussing systems for protecting ships from magnetic threats. North American companies are at the forefront of technology innovation, contributing to the development of the advanced degaussing systems market. Significant defense budgets in U.S. and Canada support the acquisition and integration of sophisticated naval defense technologies, including degaussing systems. The presence of key defense contractors and strong government support for defense procurement drives the demand for degaussing systems. There is a strong emphasis on research and development in North America, leading to continuous improvements in degaussing technology and system capabilities.

Latin America, the Middle East, Africa, and Latin America are witnessing significant growth in the market. Countries like Saudi Arabia, the United Arab Emirates, South Africa, and Egypt are the big markets in the region. The presence of a few key players in the region is significantly improving market growth. Increasing demand to counter the threats that originate from submarines is driving growth in the market significantly.


Key Players

·         Larsen and Toubro Ltd.

·         Groupe Gorge

·         American Superconductor Corporation

·         L3, Harris Technologies Inc.

·         STL Systems AG

·         Hensoldt AG

·         Ultra-Electronic Holdings plc

·         Polyamp AB

·         Raytheon Technologies Corporation

·         Other Players

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