Degaussing System Market

Degaussing System Industry worth $740 Million by 2027

The report "Degaussing System Market by Vessel Type (Small Vessel, Medium Vessel, Large Vessel), Solution (Ranging, Degaussing, Deperming), End User (OEM, Aftermarket, & Services) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027" The degaussing system market is projected to grow from USD 619 Million in 2022 to USD 740 Million by 2027, at a CAGR of 3.6% from 2022 to 2027. The market growth can be attributed to the increasing importance of the degaussing system in naval warfare for vessel protection.

Browse 251 market data Tables and 48 Figures spread through 197 Pages and in-depth TOC on "Degaussing System Market by Vessel Type (Small Vessel, Medium Vessel, Large Vessel), Solution (Ranging, Degaussing, Deperming), End User (OEM, Aftermarket, & Services) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027"
View detailed Table of Content here -

Countries such as the US, the UK, Russia, France, China, and India spend significant budgets to strengthen their navies. For instance, according to Stockholm International Peace Research Institute (SIPRI) report, the US spent 3.5% of its GDP on military in 2021. In September 2022, the Philippine Navy (PN) planned to procure modern warships as a part of its modernization program, thereby contributing to the high demand for degaussing systems. These naval warships include new construction landing docks, offshore patrol vessels, corvettes, and seven Acero-class gunboats.

Based on vessel type, the medium vessel segment is expected to lead the degaussing system market from 2022 to 2027

Based on vessel type, the degaussing system market has been segmented into small vessel, medium vessel, and large vessel.  Among these vessel type, medium vessels, with length between 100 and 200 meters, are further classified into submarines, corvettes, and destroyers. Submarines are depermed after an interval of 3 years to prevent damages caused to them by enemy mines placed underwater. Investments for the development of new and advanced submarines are being made by different countries across the globe, owing to the increasing sea-based threats. Countries such as Australia, China, India, Indonesia, Japan, Malaysia, Myanmar, Pakistan, Singapore, South Korea, Taiwan, and Vietnam are investing in R&D activities to develop advanced submarines. This factor supporting the growth of medium vessel market during 2022-2027

Based on solution, the degaussing solution segment expected to lead the market during forecast period

Based on solution, the degaussing system market has been segmented into ranging, degaussing and deperming. Degaussing systems reduce the magnetic signatures of naval vessels, thereby making it difficult for underwater mines to detect and damage them. Traditionally, degaussing systems were made of heavy copper wires. However, presently, high-temperature superconductors are used in degaussing systems, as they are lightweight and consume lesser power as compared to conventional degaussing systems. The use of high-temperature semiconductors reduces the overall weight of degaussing systems from 50-80%, thereby leading to limited fuel consumption by naval vessels.

Asia pacific held the largest share in degaussing system market in 2022 North America

The degaussing system market has been segmented into four regions, namely, North America, Europe, Asia Pacific, and Rest of the World. The Asia Pacific region is estimated to account for the largest share of the degaussing system market in 2022; this market in Asia Pacific is expected to grow at second highest CAGR during the forecast period. Various factors such as the rising sea-boundary disputes (e.g., the South China Sea), coupled with the increasing threats of sea mines and magnetic triggered ordnance devices in naval operational areas are expected to drive the growth of the degaussing system market.

The major players in the degaussing system market Wartsila (Finland), Larsen & Turbo Limited (India), Ultra Electronics Holdings plc (UK), L3Harris Technologies, Inc. (US), and   American Superconductor Corporation (US)                        

Don’t miss out on business opportunities in Degaussing System Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on TwitterLinkedIn and Facebook.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Degaussing System Market Size,  Share & Growth Report
Report Code
AS 6411
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Degaussing System Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status

Digital Virtual Assistant - MarketsandMarkets