Degaussing System Market Forecasts to 2028 – Global Analysis By Power (Static, Rotating), Type (Shipborne, External), Solution (Deperming, Ranging), Application (Biosensors, Catalysis) and By Geography
According to Stratistics MRC, the Global Degaussing System Market is accounted for $1,184.79 million in 2020 and is expected to reach $1,877.00 million by 2028 growing at a CAGR of 5.9% during the forecast period. Growing demand for naval warfare and technological advancements in degaussing equipment are driving the market growth. However, unavailability of skilled professionals is hampering the growth of the market.
Degaussing system is used to reduce or eliminate unwanted magnetic field of anything such as the ships and these systems provide precise current control, overheating protection and LED status indicators which enable users to experience enhanced efficiency and safety.
Based on the solution, the degaussing segment is going to have lucrative growth during the forecast period as degaussing solutions offer various advantages such as enhanced signature control, assist in fault management, and magnetic maps. In naval warfare to protect ships from enemy mines, the degaussing solution systems are adopted, due to this reason the degaussing solution segment will have favorable growth in the during the time period.
By geography, North America is going to have high growth during the forecast period due to the rise in defense budgets and the need to safeguard vessels from the enemy are the drivers for the degaussing system market in the region.
Some of the key players profiled in the Degaussing System Market include L3 Technologies, Inc, American Superconductor, Ultra Electronic, Surma LTD, Polyamp, Dayatech Meri, Larsen & Turbo Limited, STL Systems AG, Ifen S.P.A., ECA Group, Dayatech Merin Sdn. BHD and Wartsila Corporation.
Estimated Market Size in 2020:
USD 1,184.79 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 1,877.00 million
Tables, Graphs& Figures
Power, Type, Vessel Type, Solution, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Static Power
• Rotating Power
• Shipborne Degaussing System
• External Degaussing System
Vessel Types Covered:
• Small Vessels (< 100 M)
• Medium Vessels (100-200 M)
• Large Vessels (>200 M)
End Users Covered:
• Original Equipment Manufacturer (OEM)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Degaussing System Market is majorly driven by growing demand for naval warfare and technological advancements in degaussing equipment.
The degaussing segment is growing at a highest CAGR as degaussing solutions offer various advantages such as enhanced signature control; assist in fault management, and magnetic maps.
Asia Pacific dominated with a significant market share due to the factors such as increasing defense spending on the modernization of defense equipment to strengthen the protection of naval vessels and the need to modernize naval fleets has contributed to the integration and development of degaussing systems in Asia Pacific countries.
North America market is growing at a highest CAGR due to the rise in defense budgets and the need to safeguard vessels from the enemy contributes importantly in sustaining the market growth of North America.
Key players in Degaussing System Market include L3 Technologies, Inc, American Superconductor, Ultra Electronic, Surma LTD, Polyamp, Dayatech Meri, Larsen & Turbo Limited, STL Systems AG, Ifen S.P.A., ECA Group, Dayatech Merin Sdn. BHD and Wartsila Corporation.
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