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.
Degaussing involves the arrangement of electrical cables installed around the circumference of a ship’s structure, running from bow to stem on both sides. An electrical current is passed through these cables to disrupt the ship’s natural magnetic field. Degaussing systems are used to make ships undetectable to the sensors of magnetic mines.
Deperming is another method to permanently disrupt a vessel’s magnetic field. Ranging systems are used to measure the magnetic signature of ships so that compensatory adjustments can be made to the degaussing systems.
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US, Russia, UK, China, South Korea, Japan, and India are some of the key countries in degaussing system, whereas regions such as Asia Pacific and Europe are the prime markets for system manufacturers and service providers. This report further analyses the market drivers, restraints, opportunities, and challenges to assess the impact of these factors on the market.
Major players like Wartsila (Finland), Ultra Electronics Holdings plc (UK), L3Harris Technologies, Inc. (US), Larsen & Turbo Limited (India), and American Superconductor Corporation (US) have adopted various growth strategies such as strategies, such as contracts, acquisitions, agreements, expansions, investments, and new product launches activities to further expand their presence in the degaussing system market.
Larsen & Turbo Limited
L&T Electronics and Automation, a subsidiary of L&T Ltd., is a leading supplier of electrical & automation solutions to shipyards in India. The company provides a wide range of products such as switchboards, power distribution chain equipment, and control & automation solutions for ships of the Indian Navy and Indian Coast Guard.
Wartsila is another major player in the degaussing system market. Next-generation innovation and strategic investments being undertaken by the company, coupled with its strong product portfolio, enable Wartsila to be among the top market players in degaussing system. It acquired Transas in May 2018 to help increase its geographical reach and overall revenue. The company has been focusing on new product launches to enhance its product offering and, subsequently, market share.
Ultra Electronics Holdings plc
Ultra Electronics Holdings plc caters to the aerospace & defense, security & cyber, and transport & energy markets. The company had a headcount of 4,500 employees in November 2022. It operates through aerospace and infrastructure, communication and security, and maritime and land segments. The company’s specialized operational areas are underwater warfare, maritime systems, land systems, aerospace, C2ISR, communications, nuclear, and infrastructure. It provides degaussing and ranging systems through its maritime and land business segment.
L3Harris Technologies, Inc.
L3Harris Technologies, Inc. is a prominent player in the degaussing system market. It is a key player in the US market, generating approximately 81% of its revenue from the country. The company operates through an integrated mission system, space and airborne system, communication system, and aviation system. The company provides degaussing systems through L3 Power & Propulsion Systems, a division of L3 M&PS Company, a subsidiary of L3Harris Technologies, Inc. The company has a presence across North America, Europe, the Middle East, and Asia Pacific.
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
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