Degaussing Systems Market Size, Share & Trends Growth [2031]
Degaussing Systems Market Size, Share & Trends Growth [2031]
Segments - Degaussing Systems Market by Vessel Type (Large, Medium, and Small), Application (Shipborne and External), End-user (Aftermarket, OEM, and Services), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :AD-5264
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Report Description
The global degaussing systems market size was USD 18.3 Billion in 2022 and is likely to reach USD 26.05 Billion by 2031, expanding at a CAGR of 4% during 2023–2031. The market growth is characterized by the rising importance of degaussing systems in naval warfare to neutralize advanced adversaries.
Every ship is designed to operate under the influence of the magnetic field of the Earth. It develops a magnetic signature due to magneto-mechanical interaction with the magnetic field of the earth. As the ship navigates through the water, the magnetic field moves with it distorting the effects of the earth’s magnetic field.
Degaussing is a method of reducing and neutralizing magnetic fields with the help of built-in degaussing systems in naval vessels and warships. Degaussing control units reduce a ship’s magnetic footprint by providing calibrated current through degaussing cables to produce a composite magnetic field to thwart the effects of the ship on the earth’s magnetic field. Degaussing systems are an integral part of the naval vessel defense system.
This distortion in the earth’s magnetic field can be detected by magnetic-sensitive ordnance or powerful magnetic sensors integrated into maritime warfare systems to attack ships and vessels. Maritime forces rely on degaussing technology to protect the ships and naval vessels from protection against torpedoes and sea mines by reducing the magnetic field generated by vessels so that they cannot be detected by sensors of the magnetic mines.
Nations with long coastlines are developing maritime warfare systems to establish dominance over the seas for providing protection to the trade routes and offensive actions by the enemy forces. The demand for formidable and efficient naval warfare systems has increased as globalization and industrialization have spurred trade activities and maritime logistics and services globally. Coastguards and navies provide protection to commercial ships passing through international waters with the help of naval combat systems.
The COVID-19 pandemic affected the market, due to the disruptions in raw supply chain activities and reduction in defense spending by some economies around the globe. The reduction in government revenues due to the economic slowdown caused by the lockdown measures impacted the overall defense expenditure.
Degaussing Systems Market Dynamics
Drivers
Rising need for establishing military dominance in international waters to protect the borders and trade routes and the subsequent need for formidable warfare systems is anticipated to drive the market. The major trade routes pass through nations with long coastlines. The navies of such nations rely on warfare systems that are efficient, robust, and versatile. Degaussing solution systems protect the naval vessels against torpedoes and sea mines.
Restraints
The use of composite materials in building non-magnetic warships and the high cost of installation, maintenance, and retrofitting of degaussing systems is expected to hinder the market. The composite materials are used to build non-magnetic warships and vessels. However, the durability and structural integrity of such materials is slightly lower than the conventional steel and iron structures. The economic and technical aspects of the composite materials are questionable.
Opportunities
The rising use of high-temperature superconducting degaussing systems (HTS) is anticipated to create significant opportunities for the market. The HTS cable systems are preferred as they carry five times the current of a conventional degaussing cable system and function at very low temperatures. The HTS cables are preferred due to their high-power transfer capacity and shorter installation times.
Scope of the Degaussing Systems Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
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Report Title |
Degaussing Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Vessel Type (Large, Medium, and Small), Application (Shipborne and External), and End-user (Aftermarket, OEM, and Services) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
IFEN SpA; Dayatech Merin Sdn Bhd; LARSEN & TOUBRO LIMITED; ECA GROUP; STL Systems AG; L3Harris Technologies, Inc.; Wärtsilä; Polyamp AB; Groupe Gorgé;Ultra; and American Superconductor |
Degaussing Systems Market Segment Insights
Based on vessel type, the degaussing systems market is divided into large, medium, and small. The medium segment is expected to expand at a significant growth rate during the projection period owing to the rising adoption of medium-sized vessels for patrolling and security purposes. Maneuverability and utility of medium-sized vessels are high in combing operations. The maritime forces rely on medium-sized vessels for speedy operations and modular design.
On the basis of application, the global market is segregated into shipborne and external. The shipborne segment is projected to register a considerable CAGR during the forecast period due to the rising need for protecting the ships from torpedoes and sea mines at the sea. The ships are vulnerable to attacks from torpedoes and sea mines. Magnetic-sensitive ordnance or powerful magnetic sensors integrated into maritime warfare systems are likely to detect moving ships at sea thus shipborne degaussing systems are preferred by the maritime forces.
In terms of end-user, the degaussing systems market is segmented into aftermarket, OEM, and services. The OEM segment is expected to register a robust growth rate during the forecast period owing to retrofitting and line fit options for naval vessels provided by the OEM. OEM-fitted degaussing systems are integrated into the ships to provide the optimum function with minimal complexity.
In terms of region, the global degaussing systems market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period owing to the adoption of advanced technologies in naval warfare systems for countering threats. The U.S. has naval bases all over the world and relies on the latest technologies to establish military dominance in the region.
Segments
The degaussing systems market has been segmented on the basis of
Vessel Type
- Large
- Medium
- Small
Application
- Shipborne
- External
End-user
- Aftermarket
- OEM
- Services
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- IFEN SpA
- Dayatech Merin Sdn Bhd
- LARSEN & TOUBRO LIMITED
- ECA GROUP
- STL Systems AG
- L3Harris Technologies, Inc.
- Wärtsilä
- Polyamp AB
- Groupe Gorgé
- Ultra
- American Superconductor
Competitive Landscape
Key players competing in the global degaussing systems market are IFEN SpA; Dayatech Merin Sdn Bhd; LARSEN & TOUBRO LIMITED; ECA GROUP; STL Systems AG; L3Harris Technologies, Inc.; Wärtsilä; Polyamp AB; Groupe Gorgé; Ultra; and American Superconductor.
These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide. For instance,
- In April 2023, American Superconductor was awarded a contract by the U.S. Navy for a deployable countermeasure system for ship protection. American Superconductor and U.S. Navy are jointly developing high-temperature superconductor-based ship protection systems including HTS Magnetic Influence Mine Countermeasure Payload System and HTS Advanced Degaussing Systems.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Degaussing Systems Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Degaussing Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Degaussing Systems Market - Supply Chain
4.5. Global Degaussing Systems Market Forecast
4.5.1. Degaussing Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Degaussing Systems Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Degaussing Systems Market Absolute $ Opportunity
5. Global Degaussing Systems Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Degaussing Systems Market Size and Volume Forecast by Applications
5.3.1. Shipborne
5.3.2. External
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Degaussing Systems Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Degaussing Systems Market Size and Volume Forecast by End Users
6.3.1. Aftermarket
6.3.2. OEM
6.3.3. Services
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Degaussing Systems Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Degaussing Systems Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Degaussing Systems Demand Share Forecast, 2019-2026
8. North America Degaussing Systems Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Degaussing Systems Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Degaussing Systems Market Size and Volume Forecast by Applications
8.4.1. Shipborne
8.4.2. External
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Degaussing Systems Market Size and Volume Forecast by End Users
8.7.1. Aftermarket
8.7.2. OEM
8.7.3. Services
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Degaussing Systems Demand Share Forecast, 2019-2026
9. Latin America Degaussing Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Degaussing Systems Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Degaussing Systems Market Size and Volume Forecast by Applications
9.4.1. Shipborne
9.4.2. External
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Degaussing Systems Market Size and Volume Forecast by End Users
9.7.1. Aftermarket
9.7.2. OEM
9.7.3. Services
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Degaussing Systems Demand Share Forecast, 2019-2026
10. Europe Degaussing Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Degaussing Systems Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Degaussing Systems Market Size and Volume Forecast by Applications
10.4.1. Shipborne
10.4.2. External
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Degaussing Systems Market Size and Volume Forecast by End Users
10.7.1. Aftermarket
10.7.2. OEM
10.7.3. Services
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Degaussing Systems Demand Share Forecast, 2019-2026
11. Asia Pacific Degaussing Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Degaussing Systems Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Degaussing Systems Market Size and Volume Forecast by Applications
11.4.1. Shipborne
11.4.2. External
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Degaussing Systems Market Size and Volume Forecast by End Users
11.7.1. Aftermarket
11.7.2. OEM
11.7.3. Services
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Degaussing Systems Demand Share Forecast, 2019-2026
12. Middle East & Africa Degaussing Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Degaussing Systems Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Degaussing Systems Market Size and Volume Forecast by Applications
12.4.1. Shipborne
12.4.2. External
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Degaussing Systems Market Size and Volume Forecast by End Users
12.7.1. Aftermarket
12.7.2. OEM
12.7.3. Services
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Degaussing Systems Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Degaussing Systems Market: Market Share Analysis
13.2. Degaussing Systems Distributors and Customers
13.3. Degaussing Systems Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. IFEN SpA
13.4.2. Dayatech Merin Sdn Bhd
13.4.3. LARSEN & TOUBRO LIMITED
13.4.4. ECA GROUP
13.4.5. STL Systems AG
13.4.6. L3Harris Technologies, Inc.
13.4.7. Wärtsilä
13.4.8. Polyamp AB
13.4.9. Groupe Gorgé
13.4.10. Ultra
13.4.11. American Superconductor
Methodology
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