Degaussing Systems Market
Degaussing Systems Market Forecasts to 2030 - Global Analysis By Product (Hardware and Software), By Vessel Type (Small Vessel, Medium Vessel and Large Vessel), End User, and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $0.9 BN |
|
Projected Year Value (2030) |
US $1.3 BN |
|
CAGR (2023-2030) |
5.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Degaussing Systems Market is accounted for $0.9 billion in 2023 and is expected to reach $1.3 billion by 2030 growing at a CAGR of 5.7% during the forecast period. Degaussing systems are maritime technologies designed to reduce or eliminate the magnetic signature of naval vessels and submarines. These systems neutralize the residual magnetism in a ship's structure, minimizing susceptibility to magnetic mines and enhancing operational stealth. Degaussing ensures safer navigation and enhances the survivability of vessels by reducing their vulnerability to magnetic-based detection and targeting systems.
According to Maritime Publications, around 80% of the global trade by volume and over 70% of the global trade by value are carried out by sea and are controlled by ports worldwide.
Market Dynamics:
Driver:
Increasing emphasis on naval vessel protection
The increasing emphasis on naval vessel protection acts as a driver in the degaussing systems market. As maritime threats evolve, naval fleets prioritize minimizing their magnetic signatures to counter the risks posed by magnetic mines and detection systems. Degaussing systems play a pivotal role in enhancing naval vessel survivability by reducing susceptibility to magnetic-based threats. This heightened focus on maritime security, combined with stringent regulations, propels the demand for advanced degaussing technologies, driving innovation and adoption across naval modernization programs globally.
Restraint:
Costs associated with installing and integrating degaussing systems
The initial investment required for deploying these sophisticated systems on naval vessels is substantial, posing a financial challenge for defense budgets. The complexity of integration, calibration and ongoing maintenance further contributes to the financial burden. As a result, budget constraints within defense sectors may hinder widespread adoption, limiting the accessibility of advanced degaussing technology for naval fleets.
Opportunity:
Ongoing naval modernization initiatives worldwide
Ongoing naval modernization initiatives worldwide present a significant opportunity in the degaussing systems market. As naval forces upgrade their fleets, there is a heightened demand for advanced degaussing systems to enhance the survivability and operational effectiveness of vessels. The need to comply with stricter regulations and counter evolving maritime threats further drives the adoption of cutting-edge degaussing technologies. This creates a favorable environment for manufacturers and suppliers to capitalize on the growing market, offering innovative solutions aligned with modern naval requirements.
Threat:
Stringent regulations on electromagnetic emissions
Stringent regulations on electromagnetic emissions pose a threat to the degaussing systems market. These regulations are intended to enhance safety and environmental protection, but compliance can be challenging for degaussing systems. Meeting strict emission standards may necessitate advanced technologies, increasing development costs. In addition, manufacturers face the risk of non-compliance penalties and challenges in adapting existing systems.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the degaussing systems market, disrupting global supply chains and causing delays in naval projects. Lockdowns and restrictions hindered manufacturing and deployment activities, affecting the overall demand. Additionally, budget reallocations within defense sectors impacted procurement plans for degaussing systems. While the pandemic highlighted the importance of maritime security, it temporarily slowed market growth due to operational challenges and economic uncertainties affecting defense spending worldwide.
The medium vessel segment is expected to be the largest during the forecast period
The medium vessel segment is anticipated to be the largest in the forecast period in the degaussing systems market. This is attributed to the increasing focus on modernizing naval fleets with medium-sized vessels. These vessels exhibit a growing demand for advanced degaussing systems to enhance operational capabilities and ensure compliance with stringent regulations. The segment's prominence reflects the continuous efforts in naval modernization programs globally, creating a substantial market for degaussing systems.
The services segment is expected to have the highest CAGR during the forecast period
The services segment is projected to achieve the highest growth rate during the forecast period in the degaussing systems market. This is attributed to the increasing need for maintenance, calibration and training services. As the complexity of degaussing systems rises, there is a growing demand for specialized services to ensure optimal performance. Additionally, ongoing support services, including maintenance and training, contribute to the segment's rapid growth.
Region with largest share:
North America is expected to dominate the degaussing systems market with the largest market share during the forecast period. This can be attributed to the region's robust defense spending, continuous naval modernization initiatives and strong emphasis on maritime security. The presence of key defense contractors and technological advancements in the United States further contribute to North America's leading position in the market. In addition, the region's strategic focus on naval capabilities fuels the demand for advanced degaussing systems.
Region with highest CAGR:
The Asia-Pacific region is poised for the highest growth in the degaussing systems market during the forecast period. This is driven by escalating naval modernization efforts, increasing defense budgets, and a rising focus on maritime security. As countries in the region strengthen their naval capabilities, there is a growing demand for advanced degaussing systems. Furthermore, Asia Pacific's dynamic geopolitical landscape and the need to counter evolving maritime threats contribute to the region's significant market growth potential.
Key players in the market
Some of the key players in degaussing systems market include American Superconductor Corporation (AMSC), Bollinger Shipyards, L.L.C., ECA GROUP, Groupe Gorgé, Hensoldt AG, IFEN S.p.A., L3Harris Technologies, Inc., Larsen & Toubro Limited, MacTaggart Scott & Company Ltd., Polyamp AB, Raytheon Technologies Corporation, Schneider Electric SE, STL Systems AG, Ultra Electronics Holdings plc and Wärtsilä Corporation.
Key Developments:
In May 2023, The U.S. Department of Defense announced that Fincantieri's U.S. subsidiary Marinette Marine (FMM) has been awarded a USD 526 million contract to build the fourth Constellation-class destroyer for the U.S. Navy. The contract for the main destroyer and nine option ships, signed in 2020, has a cumulative value of USD 5.5 billion, including post-delivery readiness support and crew training.
In December 2022, American Superconductor Corporation (AMSC), a U.S.-based energy technology company, announced that it has entered into a supply agreement with Huntington Ingalls Industries through its Ingalls Shipbuilding division for ship protection systems based on high temperature superconductors (HTS). They plan to deploy these systems aboard the San Antonio-class amphibious dock transport ship LPD-32.
In August 2022, The U.S. Navy has signed a contract with Bollinger Shipyards to design and build an unmanned surface ship capable of mine-sweeping and mine-hunting operations. The initial contract covers three vessels, with options for up to 27 more vessels. Bollinger is a privately held company that designs and manufactures military and commercial vessels.
Products Covered:
• Hardware
• Software
Vessel Types Covered:
• Small Vessel
• Medium Vessel
• Large Vessel
End Users Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
• Services
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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 2021, 2022, 2023, 2026, and 2030
- 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
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Degaussing Systems Market, By Product
5.1 Introduction
5.2 Hardware
5.2.1 Bipolar Amplifiers
5.2.2 Compass Compensating Equipment
5.2.3 Conductors
5.2.4 Course Monitor Units
5.2.5 Degaussing Coil Units
5.2.6 Degaussing Control Units
5.2.7 DG Generators
5.2.8 Magnetometers
5.3 Software
6 Global Degaussing Systems Market, By Vessel Type
6.1 Introduction
6.2 Small Vessel
6.2.1 Offshore Patrol Vessels (OPV)
6.2.2 MCMV/Minesweeper
6.2.3 FAC (Fast attack Craft)
6.3 Medium Vessel
6.3.1 Submarines
6.3.2 Corvettes
6.3.3 Destroyers
6.4 Large Vessel
6.4.1 Aircraft Carriers
6.4.2 Amphibious Vessels
6.4.3 Frigates
7 Global Degaussing Systems Market, By End User
7.1 Introduction
7.2 Original Equipment Manufacturer (OEM)
7.3 Aftermarket
7.3.1 Retrofit Degaussing Systems
7.3.2 Spare Parts and Components
7.3.3 Upgrade and Enhancement Kits
7.4 Services
7.4.1 Calibration and Testing
7.4.2 Maintenance and Repair
7.4.3 Training
8 Global Degaussing Systems Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 American Superconductor Corporation (AMSC)
10.2 Bollinger Shipyards, L.L.C.
10.3 ECA GROUP
10.4 Groupe Gorgé
10.5 Hensoldt AG
10.6 IFEN S.p.A.
10.7 L3Harris Technologies, Inc.
10.8 Larsen & Toubro Limited
10.9 MacTaggart Scott & Company Ltd.
10.10 Polyamp AB
10.11 Raytheon Technologies Corporation
10.12 Schneider Electric SE
10.13 STL Systems AG
10.14 Ultra Electronics Holdings plc
10.15 Wärtsilä Corporation
List of Tables
1 Global Degaussing Systems Market Outlook, By Region (2021-2030) ($MN)
2 Global Degaussing Systems Market Outlook, By Product (2021-2030) ($MN)
3 Global Degaussing Systems Market Outlook, By Hardware (2021-2030) ($MN)
4 Global Degaussing Systems Market Outlook, By Bipolar Amplifiers (2021-2030) ($MN)
5 Global Degaussing Systems Market Outlook, By Compass Compensating Equipment (2021-2030) ($MN)
6 Global Degaussing Systems Market Outlook, By Conductors (2021-2030) ($MN)
7 Global Degaussing Systems Market Outlook, By Course Monitor Units (2021-2030) ($MN)
8 Global Degaussing Systems Market Outlook, By Degaussing Coil Units (2021-2030) ($MN)
9 Global Degaussing Systems Market Outlook, By Degaussing Control Units (2021-2030) ($MN)
10 Global Degaussing Systems Market Outlook, By DG Generators (2021-2030) ($MN)
11 Global Degaussing Systems Market Outlook, By Magnetometers (2021-2030) ($MN)
12 Global Degaussing Systems Market Outlook, By Software (2021-2030) ($MN)
13 Global Degaussing Systems Market Outlook, By Vessel Type (2021-2030) ($MN)
14 Global Degaussing Systems Market Outlook, By Small Vessel (2021-2030) ($MN)
15 Global Degaussing Systems Market Outlook, By Offshore Patrol Vessels (OPV) (2021-2030) ($MN)
16 Global Degaussing Systems Market Outlook, By MCMV/Minesweeper (2021-2030) ($MN)
17 Global Degaussing Systems Market Outlook, By FAC (Fast attack Craft) (2021-2030) ($MN)
18 Global Degaussing Systems Market Outlook, By Medium Vessel (2021-2030) ($MN)
19 Global Degaussing Systems Market Outlook, By Submarines (2021-2030) ($MN)
20 Global Degaussing Systems Market Outlook, By Corvettes (2021-2030) ($MN)
21 Global Degaussing Systems Market Outlook, By Destroyers (2021-2030) ($MN)
22 Global Degaussing Systems Market Outlook, By Large Vessel (2021-2030) ($MN)
23 Global Degaussing Systems Market Outlook, By Aircraft Carriers (2021-2030) ($MN)
24 Global Degaussing Systems Market Outlook, By Amphibious Vessels (2021-2030) ($MN)
25 Global Degaussing Systems Market Outlook, By Frigates (2021-2030) ($MN)
26 Global Degaussing Systems Market Outlook, By End User (2021-2030) ($MN)
27 Global Degaussing Systems Market Outlook, By Original Equipment Manufacturer (OEM) (2021-2030) ($MN)
28 Global Degaussing Systems Market Outlook, By Aftermarket (2021-2030) ($MN)
29 Global Degaussing Systems Market Outlook, By Retrofit Degaussing Systems (2021-2030) ($MN)
30 Global Degaussing Systems Market Outlook, By Spare Parts and Components (2021-2030) ($MN)
31 Global Degaussing Systems Market Outlook, By Upgrade and Enhancement Kits (2021-2030) ($MN)
32 Global Degaussing Systems Market Outlook, By Services (2021-2030) ($MN)
33 Global Degaussing Systems Market Outlook, By Calibration and Testing (2021-2030) ($MN)
34 Global Degaussing Systems Market Outlook, By Maintenance and Repair (2021-2030) ($MN)
35 Global Degaussing Systems Market Outlook, By Training (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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