Degaussing System Market

New Product Launches to Strengthen their Foothold in the Degaussing System Market.

The degaussing system market is estimated to be USD 809.7 million in 2018 and is projected to reach USD 981.2 million by 2023, at a CAGR of 3.92% during the forecast period. Asia Pacific is expected to be the largest market for the degaussing system from 2018 to 2023, followed by Europe. The growth of the degaussing system market is mainly driven by the rise in deliveries of naval vessels, coupled with an increase in defense spending in US and emerging countries.

Key players operating in the degaussing system market include L&T (India), Polyamp (Sweden), ECA (France), Ultra Electronic (UK), Ifen SpA (Italy), Dayatech Merin (Malaysia), AMSC (US), STL System AG (Switzerland), and Surma LTD. (Switzerland).

Major strategies adopted by leading market players include contacts and new product launches. Contracts was the most commonly adopted strategy from 2014 to 2018. Key players have also adopted new product launches to strengthen their foothold in the degaussing system market.   

ECA Group, a leading degaussing system company, adopted strategies, such as contracts and new product launches to enhance its customer base worldwide. For example, in 2017, the ECA Group received a contract worth USD 7.9 million from an unnamed Asian military to supply degaussing systems and magnetic ranging systems. Magnetic ranging systems include UAV IT180, which is the latest drone portable ranging device manufactured by the ECA Group.

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Wartsila SAM Electronic GmBH, a subsidiary company of Wartsila Corporation, is another prominent player in the degaussing system market. It offers a diverse portfolio of degaussing systems. The company is engaged in the development of technologically advanced products for various end-use industries. In 2015, L-3 SAM Electronics received a contract to provide electrical distribution systems for 6 Littoral Combat Ships (LCS) of the Royal Malaysian Navy (RMN). This contract enabled the company to provide complete power distribution systems with main, emergency, and distribution switchboards, shore supply equipment, converters, and transformers. It also provided LED lighting systems, helicopter supply facilities, and special systems, such as Impressed Cathodic Corrosion Protection (ICCP) and Impressed Cathodic Anti-Fouling (ICAF) systems.

L&T Electronics and Automation (India) is one of the key players in the degaussing system market. The company provides a wide range of products such as switchboards, power distribution chain equipment, and control & automation solutions for the Indian Navy and the Indian Coast Guard.

Related Reports:

Degaussing System Market by Solution (Degaussing, Ranging, Deperming), End User (OEM, Services, Aftermarket), Vessel Type (MCMV, OPV, FAC, Submarines, Frigates, Corvettes, Destroyers, Aircraft Carriers, Amphibious), and Region - Global Forecast to 2023

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Degaussing System Market Size,  Share & Growth Report
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