USD 619.53 million
Degaussing System Market Size, Share, Growth Analysis, By Vessel Type(Small Vessel, Medium Vessel, and Large Vessel), By Solution(Degaussing, Deperming, and Ranging), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2220 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
63
|Figures:
65
Degaussing System Market Insights
Global Degaussing System Market size was valued at USD 619.53 million in 2022 and is poised to grow from USD 641.83 million in 2023 to USD 851.73 million by 2030, growing at a CAGR of 3.6% in the forecast period (2024-2031).
The global degaussing system has grown dramatically, driven by growing demands for precision and dependability in all sorts of electronic equipment. Contrasting this is the market for degaussing systems, which are used to eliminate or reduce unwanted magnetic fields in electronic devices. The main function of these systems is to degauss magnetic devices, including cathode ray tube (CRT) displays, magnetic recording equipment, and other electronic products. This helps them maintain maximum reliability and accuracy. One of the main reasons for this market's expansion is the increasing use of electronic systems in such areas as defense, navigation, communications and medicine. Military applications, such as those involving electromagnetic interference to operational efficiency, also stimulate the market by creating an increasing demand for degaussing systems.
Nevertheless, despite the promising trend, there are also market restraints and obstacles. Thus, the difficulties of fitting degaussing systems into already installed electronic equipment, and attendant cost considerations, can become obstacles to their widespread use. What's more, strict standards concerning electromagnetic compatibility further increase the difficulties faced by those operating in the market. Nevertheless, behind these challenges is the opportunity to hit on breakthroughs and new technology. She concludes that the market can clear these hurdles by producing degaussing solutions that are less expensive and faster, yet appeal to more types of electronic devices.
A relevant exception to these trends is the growing number of emergent technologies and applications requiring degaussing systems. The emergence of new electronic devices and technologies means that effective degaussing becomes more important. For example, markets for autonomous vehicles, aerospace, and renewable energy all have unrealized potential; there is room for market players to broaden their products. Finally, the global degaussing system market is intimately connected to the desire for accurate and reliable electronic equipment around the world. opportunity and constraints are common features of a dynamic market. The emergence of new technologies provides an excellent window of opportunity, demonstrating the market's strong adaptability in overcoming obstacles.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Large Vessel
Fastest Growth
Small Vessel
Growth Rate
3.6% CAGR
Global Degaussing System Market 2023-2030 ($ Mn)
Country Share for North America Region- 2022 (%)
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Degaussing System Market Segmental Analysis
Global Degaussing System Market is segmented based on Vessel Type, Solution, and Region. By Vessel Type, the market is segmented into Small Vessel, Medium Vessel, and Large Vessel. By Solution, the market is segmented into Degaussing, Deperming, and Ranging. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Vessel Type
The largest category is the large vessel segment as of 2022. This section is dominated by large vessels such as aircraft carriers, destroyers, and cruisers used in service around the world. Most applications of systems to degauss large vessels are requested due to concerns over magnetic mines and overall operational security. These smart ships are oftentimes the cornerstone of any fleet, and their relatively large size only increases the significance of proper degaussing systems to threaten magnetic devices. With the worldwide trend of naval modernization, investments in Large Vessels are increasing and contributing toward further growth for the degaussing system market.
The small vessel category is the fastest-growing segment of the global degaussing system market. Patrol boats, corvettes, and other small-class naval ships fall under this section, which is crucial to coastal defense. The growing number of threats from the sea, added to the significance attached to defending territorial waters, are creating greater interest in outfitting small vessels with degaussing equipment. These systems 'flexibility, cost-effectiveness, and high-performance capability make them ideal for small naval platforms. With most nations investing in building up their navy at all levels, the Small Vessel segment is enjoying rapid growth and has become a stepping stone for degaussing system makers to seize new market opportunities.
Analysis By Solution
Degaussing is the largest segment of the degaussing system market, which is currently growing very vigorously. To save the day Degaussing is an essential process that demonstrably reduces the influence of magnetic fields on naval vessels and marine equipment. The focus of this section is on naval defense, reducing susceptibility to magnetic mines, and maintaining the operational capability of advanced naval systems. This segment is attracting a lot of attention. This trend is driven by the rising naval modernization programs in most nations around the world and reflects the fact that modern navies cannot afford to be inferior in their choice of equipment. This is in addition to the significance of survivability and stealth that the degaussing segment has acquired as an integral part of the overall naval defense network.
Ranging is the fastest-growing segment in the Degaussing System Market. The ranging solutions also provide an important means of accurately determining and adjusting for changes in the earth's magnetic fields to ensure effective navigation and targeting systems onboard ships. As maritime operations become increasingly complex and call for precise navigation in numerous different environments, these solutions are seeing an even faster rate of adoption. Operational safety, navigation accuracy, and mission success are being given greater importance, while requiring the development of the latest ranging technology. The reason for the stunning performance of the Ranging segment is that it can improve the reliability of the navigation system, the risk of navigational error, and the effectiveness of the mission. With advanced navigation capacities becoming a top priority for navies around the world, the Ranging segment is expected to grow still more in the future, with rich pickings for players in the Degaussing System Market.
Global Degaussing System Market Size By Vessel Type 2023(%)
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Degaussing System Market Regional Insights
North America is emerging as a dominating region in terms of market share. Its lead rests on the fact that countries like America and Canada are large investors in this kind of thing, especially in naval systems. North America's degaussing system demand is also related to it having leading defense contractors and the steady modernization of naval fleets. Also, this place seeks to stay ahead of the curve about technological superiority in naval warfare. This pursuit also serves to promote the use of advanced degaussing technologies here in solidifying its position as a leader on the world stage.
Europe is also the fastest-growing region in the world degaussing system market. Alongside the rise of geopolitical tensions and a trend toward further development of naval capability, European nations have begun to invest heavily in defense technology. This kind of cooperation between government and private contractors is helpful to developing the European market, stimulating research into decloaking systems with leading-edge technology. In addition, the region's determination to enhance its naval capabilities and the use of state-of-the-art technologies in civilian security is accelerating the market for degaussing systems in Europe. Hence, the region has become a core driver for global market expansion and is tracking improvements in naval defense technology.
Global Degaussing System Market Size By Geography, 2023-2030
- Largest
- Fastest
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Degaussing System Market Dynamics
Drivers
Increasing Importance of Degaussing Systems in Naval Warfare
- Different from naval strategy is naval tactics, or how to win sea battles. The battlespace around the naval force within which the commander can be confident that threats can be effectively detected, tracked, engaged, and destroyed is a concept at the heart of much naval warfare. They detect ships and warships because they are visible and have magnetic signatures. Mining is a strategic move and submarines are easily mined because they operate below the surface where mines are laid. Luckily, this weakness has created a market for degaussing and deperming systems, designed to eliminate the magnetic fingerprints left by submarines. In addition, submarine vehicles have been delivered in recent years to some developing countries including India, the Republic of China and South Korea; this has resulted in a need for more degaussing and deperming equipment. In June 2021 India's defense ministry announced plans to carry out long-pending plans to purchase six mainstream submarines. It is estimated that this proposed plan will create a rivalry between the leading shipbuilders, such asLarsen & Toubro Ltd. of India and Mazagon Dock Shipwrights Limited (India).
Restraints
Increase in Maritime Warfare Exercises
- With the growth in frequency and variety of naval drills and exercises, demand has risen for degaussing systems which can eliminate or minimize the magnetic signature of naval vessels. In fact, as nations around the world beef up national naval forces and carry out realistic war exercises, degaussing systems have become increasingly important. These systems are used to reduce the ship's susceptibility to magnetic mines and other detection methods used by enemy forces. But there are some very clear limits in the market, despite this growth. Speed bumps Problems include the costs of installing and maintaining state-of-the-art degaussing technologies, not to mention the complex integration procedures needed for various existing naval platforms. But governments and defense organizations must balance the demands of fiscal conservatism against the need for naval modernization. This affects how the maritime community adopts degaussing technology.
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Degaussing System Market Competitive Landscape
The global degaussing system market is highly competitive with several large players such as L-3 Technologies, Polyamp AB, Ultra Electronics and others. As a result, these companies are vigorously pursuing strategic efforts like mergers and acquisitions, alliances and joint ventures, as well as product development. Thus, the competition is stiff, as everyone works to perfect degaussing technologies that are more effective and efficient at satisfying the rapidly changing needs of today's naval operations. For example, government contracts and budgets can influence the competitiveness of the degaussing system market. Also, companies with a good reputation for services that produce reliable and up-to-date degaussing are in an advantageous position. Besides this, the introduction of cutting-edge technologies such as artificial intelligence and automation means that there is a growing trend in degaussing systems itself.
Top Player’s Company Profile
- Wartsila (Finland)
- Larsen & Turbo Limited (India)
- Ultra Electronics Holdings plc (UK)
- L3 Harris Technologies, Inc. (US)
- American Superconductor Corporation (US)
- Polyamp AB (Sweden)
- Raytheon Technologies Corporation (US)
- Groupe Gorgé (France)
- STL Systems AG (Switzerland)
- Hensoldt AG (Germany)
Recent Developments
- In February 2024, Babcock, a firm specializing in engineering services, secured a five-year contract from the UK Ministry of Defence (MOD) to extend its in-service support for the Royal Navy's Ships Protective System (SPS) equipment.
- In January 2024, China unveiled its latest aircraft carrier equipped with advanced plane catapults, showcased on the state broadcaster's flagship nightly news program. This carrier marks China's first to feature electromagnetic catapults, as depicted by footage showing the vessel being pulled by three tugboats, with a J-15 fighter jet visible on its flight deck.
- In May 2023, the U.S. Navy continues its efforts to safeguard its surface ships and submarines from underwater magnetic influence mines through a comprehensive two-step process. This process involves initial magnetic treatment followed by degaussing system calibration, typically conducted at the onset of the ship or boat’s service life. In March, USNS John Lewis (T-AO 205) underwent this treatment and calibration procedure at Naval Base Point Loma in San Diego.
Degaussing System Key Market Trends
- Integration Of Advanced Technologies in Degaussing Systems to Enhance Their Effectiveness And Efficiency: The integration of advanced technology, is transforming the efficiency and operational efficiency of cash withdrawal systems. The incorporation of sophisticated technologies such as artificial intelligence (AI), machine learning, advanced sensors, and more has enhanced the capabilities of flight systems. Traditionally known for their role in reducing the sensitivity of ships to magnetic mines, Optimizing the performance of degaussing systems, and reducing downtime. Advanced sensors help ensure demagnetization accuracy and flexibility, providing optimal demagnetization tailored to specific operating conditions. Consequently, modern degaussing systems not only offer greater protection from magnetic threats but also more efficient operation, making them indispensable naval components worldwide.
Degaussing System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global degaussing system market analyses, The international degaussing machine marketplace is experiencing an enormous increase, driven by a rising emphasis on naval modernization applications and the growing adoption of advanced generation in protection programs. Degaussing structures play an essential position in decreasing the magnetic signature of naval vessels, making them much less vulnerable to magnetic mines and improving usual maritime protection. As international locations worldwide are cognizant of strengthening their naval talents, the demand for degaussing structures is predicted to surge. The market evaluation shows a steady expansion thanks to the escalating maritime tensions, necessitating the deployment of modern degaussing solutions. Additionally, technological advancements, such as the development of compact and green degaussing systems, are similarly propelling market growth. The integration of those systems no longer complements the survivability of naval fleets however also contributes to the overall efficiency and safety of maritime operations. As a result, the global degaussing gadget market is poised to endure an increase in the foreseeable future, driven by the evolving landscape of maritime protection techniques and the vital need for advanced magnetic signature management.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 619.53 million |
| Market size value in 2030 | USD 851.73 million |
| Growth Rate | 3.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Degaussing System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Degaussing System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Degaussing System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Degaussing System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Degaussing System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Degaussing System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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