Degaussing System Market by Products (Hardware, Services, Software), Vessel Type (Large Vessel, Medium Vessel, Small Vessel), End-Users - Global Forecast 2024-2030

Degaussing System Market by Products (Hardware, Services, Software), Vessel Type (Large Vessel, Medium Vessel, Small Vessel), End-Users - Global Forecast 2024-2030

The Degaussing System Market size was estimated at USD 606.11 million in 2023 and expected to reach USD 629.86 million in 2024, at a CAGR 4.13% to reach USD 804.83 million by 2030.

Degaussing is the process of installing electrical wire systems around the hull of a ship, from bow to stern on both sides. These wires are used to cancel out the magnetic field of the ship by passing a measured electrical current through them. The increase in the threat of naval warfare, which includes methods to detect and engage enemy ships on battlefields, raises the importance of degaussing systems for reducing or eliminating a ship's magnetic signature.The degaussing systems help to protect ships from magnetic mines and torpedoes that are triggered by the magnetic field of the ship. The system neutralizes the ship's magnetic signature, making it less detectable to enemy and torpedo systems. Additionally, the demand for degaussing systems is increasing to protect the ship from electromagnetic (EM) emissions that are generated by the ship's electronics and electrical systems and can be used by the enemy to detect and target the ship. On the other hand, the higher cost of components and technology and the use of composite materials for ship-building reduces the usage of degaussing systems. However, increasing government spending in the military and defense sector and the use of defense technology by maritime trade firms further amplify the adoption of degaussing systems.

Regional Insights

The escalated maritime border tensions between the countries of the Asia-Pacific region have led to an increase in their military spending. Countries including Australia, India, China, and Indonesia, are investing in the modernization of their fleet with advanced capabilities. The countries in the region are expected to develop, build, and procure new naval vessels, subsequently expanding the deployment of degaussing systems in Asia-Pacific. For instance, as a part of Horizon Two of the Philippines Modernisation Program, the government has allocated USD 2.46 billion for the period 2018-2022. The country plans to procure at least 25 vessels over the next five years. The navy is estimated to receive two frigates by the end of 2020 and six offshore patrol vessels (OPV) by 2022. It is also in plans to procure submarines, multi-purpose attack craft, fast attack, and interdiction craft – a missile capable, and corvettes in the coming years, which are expected to enter service in the coming decade. This modernization of the naval fleet is to strengthen the country’s capabilities amid the South China Sea tensions. Similarly, the other Southeast Asian countries are also currently enhancing their naval capabilities, which is expected to propel the growth of the degaussing system market.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Degaussing System Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Degaussing System Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Degaussing System Market, highlighting leading vendors and their innovative profiles. These include Aditya Systems, Aish Technologies, American Superconductor Corporation, Bird Audio Electronics, DA Group, Dayatech Merin Sdn Bhd, Diverse Technologies Ltd., ECA Group, EWM AG, IFEN SpA, L3Harris Technologies, Inc., Larsen & Toubro Limited, Maurer Magnetic AG, Polyamp AB, SAV France, STL Systems AG, Surma Ltd., Tecomar S.L., UKB Electronics Pvt. Ltd., Ultra Electronics Holdings PLC, Vallon GmbH, and Wärtsilä Corporation.

Market Segmentation & Coverage

This research report categorizes the Degaussing System Market to forecast the revenues and analyze trends in each of the following sub-markets:

Products
Hardware
Bipolar Amplifiers
Control Units
Degaussing Coils
Power Supplies
Yokes

Services

Software
Control Systems
Ranging
Remote Monitoring
Vessel Type
Large Vessel
Aircraft Carriers
Amphibious Vessels
Frigates

Medium Vessel
Corvettes
Destroyers
Submarines

Small Vessel
Fast Attack Craft (FAC)
Littoral Combat Ships
Mine Countermeasures Vessel (MCMV)/Minesweeper
Offshore Patrol Vessels (OPV)
End-Users
Aftermarket

OEM
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas

Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam

Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Degaussing System Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Degaussing System Market?
3. What are the technology trends and regulatory frameworks in the Degaussing System Market?
4. What is the market share of the leading vendors in the Degaussing System Market?
5. Which modes and strategic moves are suitable for entering the Degaussing System Market?PDF E-mail From Publisher (2-5)Users License