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Degaussing System Market Analysis

  • Report ID: GMI7023
  • Published Date: Oct 2023
  • Report Format: PDF

Degaussing System Market Analysis

Degaussing System Market Size, By Component, 2021-2032, (USD Million)

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Based on component, the market is segmented into power supplies, degaussing coils, control units, and monitoring systems. The degaussing coils segment dominated the global market with a share of over 25% in 2022.
 

  • Degaussing coils are essential for effectively reducing the magnetic signatures of ships and submarines. As naval and commercial maritime industries seek to minimize their magnetic footprint for security & environmental reasons, the demand for advanced degaussing coils has increased.
     
  • The increasing demand for degaussing systems has led to a competitive market where companies aim to offer the most efficient and advanced solutions. Degaussing coils are a critical part of these systems, and their improvement is essential to staying competitive in the market.
     
Degaussing System Market Share, By Solution, 2022

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Based on solution, the market is divided into ranging [fixed, onboard], degaussing [products {hardware, software}, services]. The degaussing is further categorized into products {hardware, software}, services.  The ranging segment is anticipated to register a CAGR of over 5.5% through 2032.
 

  • The ongoing modernization of naval fleets worldwide emphasizes the need for advanced degaussing solutions to counteract magnetic mines and improve vessel survivability in modern naval warfare. With the evolving nature of threats, including magnetic mines and underwater munitions, the importance of effective degaussing solutions has increased to safeguard naval assets and personnel.
     
  • In the commercial shipping sector, degaussing solutions are vital for compliance with environmental regulations and to ensure the safety of vessels by reducing their magnetic signatures, which is important for both environmental conservation and navigational safety. Innovations in degaussing technology have resulted in more efficient, cost-effective, and user-friendly solutions, making them increasingly attractive to naval and commercial operators.
     
U.S. Degaussing System Market Size, 2021-2032, (USD Million)

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North America dominated the global degaussing system market with a share of over 30% in 2022. The region has a strong emphasis on naval modernization with the U.S. Navy and other maritime defense organizations upgrading their fleets. The need to counteract magnetic mines and improve vessel survivability is driving the demand for advanced degaussing systems. Additionally, the region's commercial shipping industry is investing in degaussing technology to meet the environmental regulations and enhance safety. As North America remains a major hub for global trade, the adoption of degaussing systems in ports & on vessels is increasing to ensure compliance and protect valuable maritime assets.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for degaussing system was valued at over USD 587.3 million in 2022 and is anticipated to grow at a CAGR of over 4.5% between 2023 and 2032, favored by its increasing importance in naval warfare.

The degaussing coils segment held a market share of over 25% in 2022 as they are essential for effectively reducing the magnetic signatures of ships and submarines.

North America market for degaussing system held a revenue share of over 30% in 2022 and will continue growing through 2032 as the region has a strong emphasis on naval modernization with the U.S. Navy and other maritime defense organizations upgrading their fleets.

Wartsila, Larsen & Turbo Limited, Ultra Electronics Holdings Plc, L3Harris Technologies Inc., American Superconductor Corporation, Polyamp, and Dayatech Merin.

Degaussing System Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 373
  • Countries covered: 21
  • Pages: 220
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