Degaussing Systems Market Forecasts to 2030 – Global Analysis By Product (Hardware and Software), By Vessel Type (Small Vessel, Medium Vessel and Large Vessel), End User, and By Geography

Degaussing Systems Market Forecasts to 2030 – Global Analysis By Product (Hardware and Software), By Vessel Type (Small Vessel, Medium Vessel and Large Vessel), End User, and By Geography


According to Stratistics MRC, the Global Degaussing Systems Market is accounted for $0.9 billion in 2023 and is expected to reach $1.3 billion by 2030 growing at a CAGR of 5.7% during the forecast period. Degaussing systems are maritime technologies designed to reduce or eliminate the magnetic signature of naval vessels and submarines. These systems neutralize the residual magnetism in a ship's structure, minimizing susceptibility to magnetic mines and enhancing operational stealth. Degaussing ensures safer navigation and enhances the survivability of vessels by reducing their vulnerability to magnetic-based detection and targeting systems.

According to Maritime Publications, around 80% of the global trade by volume and over 70% of the global trade by value are carried out by sea and are controlled by ports worldwide.

Market Dynamics:

Driver:

Increasing emphasis on naval vessel protection

The increasing emphasis on naval vessel protection acts as a driver in the degaussing systems market. As maritime threats evolve, naval fleets prioritize minimizing their magnetic signatures to counter the risks posed by magnetic mines and detection systems. Degaussing systems play a pivotal role in enhancing naval vessel survivability by reducing susceptibility to magnetic-based threats. This heightened focus on maritime security, combined with stringent regulations, propels the demand for advanced degaussing technologies, driving innovation and adoption across naval modernization programs globally.

Restraint:

Costs associated with installing and integrating degaussing systems

The initial investment required for deploying these sophisticated systems on naval vessels is substantial, posing a financial challenge for defense budgets. The complexity of integration, calibration and ongoing maintenance further contributes to the financial burden. As a result, budget constraints within defense sectors may hinder widespread adoption, limiting the accessibility of advanced degaussing technology for naval fleets.

Opportunity:

Ongoing naval modernization initiatives worldwide

Ongoing naval modernization initiatives worldwide present a significant opportunity in the degaussing systems market. As naval forces upgrade their fleets, there is a heightened demand for advanced degaussing systems to enhance the survivability and operational effectiveness of vessels. The need to comply with stricter regulations and counter evolving maritime threats further drives the adoption of cutting-edge degaussing technologies. This creates a favorable environment for manufacturers and suppliers to capitalize on the growing market, offering innovative solutions aligned with modern naval requirements.

Threat:

Stringent regulations on electromagnetic emissions

Stringent regulations on electromagnetic emissions pose a threat to the degaussing systems market. These regulations are intended to enhance safety and environmental protection, but compliance can be challenging for degaussing systems. Meeting strict emission standards may necessitate advanced technologies, increasing development costs. In addition, manufacturers face the risk of non-compliance penalties and challenges in adapting existing systems.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the degaussing systems market, disrupting global supply chains and causing delays in naval projects. Lockdowns and restrictions hindered manufacturing and deployment activities, affecting the overall demand. Additionally, budget reallocations within defense sectors impacted procurement plans for degaussing systems. While the pandemic highlighted the importance of maritime security, it temporarily slowed market growth due to operational challenges and economic uncertainties affecting defense spending worldwide.

The medium vessel segment is expected to be the largest during the forecast period

The medium vessel segment is anticipated to be the largest in the forecast period in the degaussing systems market. This is attributed to the increasing focus on modernizing naval fleets with medium-sized vessels. These vessels exhibit a growing demand for advanced degaussing systems to enhance operational capabilities and ensure compliance with stringent regulations. The segment's prominence reflects the continuous efforts in naval modernization programs globally, creating a substantial market for degaussing systems.

The services segment is expected to have the highest CAGR during the forecast period

The services segment is projected to achieve the highest growth rate during the forecast period in the degaussing systems market. This is attributed to the increasing need for maintenance, calibration and training services. As the complexity of degaussing systems rises, there is a growing demand for specialized services to ensure optimal performance. Additionally, ongoing support services, including maintenance and training, contribute to the segment's rapid growth.

Region with largest share:

North America is expected to dominate the degaussing systems market with the largest market share during the forecast period. This can be attributed to the region's robust defense spending, continuous naval modernization initiatives and strong emphasis on maritime security. The presence of key defense contractors and technological advancements in the United States further contribute to North America's leading position in the market. In addition, the region's strategic focus on naval capabilities fuels the demand for advanced degaussing systems.

Region with highest CAGR:

The Asia-Pacific region is poised for the highest growth in the degaussing systems market during the forecast period. This is driven by escalating naval modernization efforts, increasing defense budgets, and a rising focus on maritime security. As countries in the region strengthen their naval capabilities, there is a growing demand for advanced degaussing systems. Furthermore, Asia Pacific's dynamic geopolitical landscape and the need to counter evolving maritime threats contribute to the region's significant market growth potential.

Key players in the market

Some of the key players in degaussing systems market include American Superconductor Corporation (AMSC), Bollinger Shipyards, L.L.C., ECA GROUP, Groupe Gorgé, Hensoldt AG, IFEN S.p.A., L3Harris Technologies, Inc., Larsen & Toubro Limited, MacTaggart Scott & Company Ltd., Polyamp AB, Raytheon Technologies Corporation, Schneider Electric SE, STL Systems AG, Ultra Electronics Holdings plc and Wärtsilä Corporation.

Key Developments:

In May 2023, The U.S. Department of Defense announced that Fincantieri's U.S. subsidiary Marinette Marine (FMM) has been awarded a USD 526 million contract to build the fourth Constellation-class destroyer for the U.S. Navy. The contract for the main destroyer and nine option ships, signed in 2020, has a cumulative value of USD 5.5 billion, including post-delivery readiness support and crew training.

In December 2022, American Superconductor Corporation (AMSC), a U.S.-based energy technology company, announced that it has entered into a supply agreement with Huntington Ingalls Industries through its Ingalls Shipbuilding division for ship protection systems based on high temperature superconductors (HTS). They plan to deploy these systems aboard the San Antonio-class amphibious dock transport ship LPD-32.

In August 2022, The U.S. Navy has signed a contract with Bollinger Shipyards to design and build an unmanned surface ship capable of mine-sweeping and mine-hunting operations. The initial contract covers three vessels, with options for up to 27 more vessels. Bollinger is a privately held company that designs and manufactures military and commercial vessels.

Products Covered:
• Hardware
• Software

Vessel Types Covered:
• Small Vessel
• Medium Vessel
• Large Vessel

End Users Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
• Services

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Degaussing Systems Market, By Product
5.1 Introduction
5.2 Hardware
5.2.1 Bipolar Amplifiers
5.2.2 Compass Compensating Equipment
5.2.3 Conductors
5.2.4 Course Monitor Units
5.2.5 Degaussing Coil Units
5.2.6 Degaussing Control Units
5.2.7 DG Generators
5.2.8 Magnetometers
5.3 Software
6 Global Degaussing Systems Market, By Vessel Type
6.1 Introduction
6.2 Small Vessel
6.2.1 Offshore Patrol Vessels (OPV)
6.2.2 MCMV/Minesweeper
6.2.3 FAC (Fast attack Craft)
6.3 Medium Vessel
6.3.1 Submarines
6.3.2 Corvettes
6.3.3 Destroyers
6.4 Large Vessel
6.4.1 Aircraft Carriers
6.4.2 Amphibious Vessels
6.4.3 Frigates
7 Global Degaussing Systems Market, By End User
7.1 Introduction
7.2 Original Equipment Manufacturer (OEM)
7.3 Aftermarket
7.3.1 Retrofit Degaussing Systems
7.3.2 Spare Parts and Components
7.3.3 Upgrade and Enhancement Kits
7.4 Services
7.4.1 Calibration and Testing
7.4.2 Maintenance and Repair
7.4.3 Training
8 Global Degaussing Systems Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 American Superconductor Corporation (AMSC)
10.2 Bollinger Shipyards, L.L.C.
10.3 ECA GROUP
10.4 Groupe Gorgé
10.5 Hensoldt AG
10.6 IFEN S.p.A.
10.7 L3Harris Technologies, Inc.
10.8 Larsen & Toubro Limited
10.9 MacTaggart Scott & Company Ltd.
10.10 Polyamp AB
10.11 Raytheon Technologies Corporation
10.12 Schneider Electric SE
10.13 STL Systems AG
10.14 Ultra Electronics Holdings plc
10.15 Wärtsilä Corporation
List of Tables
Table 1 Global Degaussing Systems Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Degaussing Systems Market Outlook, By Product (2021-2030) ($MN)
Table 3 Global Degaussing Systems Market Outlook, By Hardware (2021-2030) ($MN)
Table 4 Global Degaussing Systems Market Outlook, By Bipolar Amplifiers (2021-2030) ($MN)
Table 5 Global Degaussing Systems Market Outlook, By Compass Compensating Equipment (2021-2030) ($MN)
Table 6 Global Degaussing Systems Market Outlook, By Conductors (2021-2030) ($MN)
Table 7 Global Degaussing Systems Market Outlook, By Course Monitor Units (2021-2030) ($MN)
Table 8 Global Degaussing Systems Market Outlook, By Degaussing Coil Units (2021-2030) ($MN)
Table 9 Global Degaussing Systems Market Outlook, By Degaussing Control Units (2021-2030) ($MN)
Table 10 Global Degaussing Systems Market Outlook, By DG Generators (2021-2030) ($MN)
Table 11 Global Degaussing Systems Market Outlook, By Magnetometers (2021-2030) ($MN)
Table 12 Global Degaussing Systems Market Outlook, By Software (2021-2030) ($MN)
Table 13 Global Degaussing Systems Market Outlook, By Vessel Type (2021-2030) ($MN)
Table 14 Global Degaussing Systems Market Outlook, By Small Vessel (2021-2030) ($MN)
Table 15 Global Degaussing Systems Market Outlook, By Offshore Patrol Vessels (OPV) (2021-2030) ($MN)
Table 16 Global Degaussing Systems Market Outlook, By MCMV/Minesweeper (2021-2030) ($MN)
Table 17 Global Degaussing Systems Market Outlook, By FAC (Fast attack Craft) (2021-2030) ($MN)
Table 18 Global Degaussing Systems Market Outlook, By Medium Vessel (2021-2030) ($MN)
Table 19 Global Degaussing Systems Market Outlook, By Submarines (2021-2030) ($MN)
Table 20 Global Degaussing Systems Market Outlook, By Corvettes (2021-2030) ($MN)
Table 21 Global Degaussing Systems Market Outlook, By Destroyers (2021-2030) ($MN)
Table 22 Global Degaussing Systems Market Outlook, By Large Vessel (2021-2030) ($MN)
Table 23 Global Degaussing Systems Market Outlook, By Aircraft Carriers (2021-2030) ($MN)
Table 24 Global Degaussing Systems Market Outlook, By Amphibious Vessels (2021-2030) ($MN)
Table 25 Global Degaussing Systems Market Outlook, By Frigates (2021-2030) ($MN)
Table 26 Global Degaussing Systems Market Outlook, By End User (2021-2030) ($MN)
Table 27 Global Degaussing Systems Market Outlook, By Original Equipment Manufacturer (OEM) (2021-2030) ($MN)
Table 28 Global Degaussing Systems Market Outlook, By Aftermarket (2021-2030) ($MN)
Table 29 Global Degaussing Systems Market Outlook, By Retrofit Degaussing Systems (2021-2030) ($MN)
Table 30 Global Degaussing Systems Market Outlook, By Spare Parts and Components (2021-2030) ($MN)
Table 31 Global Degaussing Systems Market Outlook, By Upgrade and Enhancement Kits (2021-2030) ($MN)
Table 32 Global Degaussing Systems Market Outlook, By Services (2021-2030) ($MN)
Table 33 Global Degaussing Systems Market Outlook, By Calibration and Testing (2021-2030) ($MN)
Table 34 Global Degaussing Systems Market Outlook, By Maintenance and Repair (2021-2030) ($MN)
Table 35 Global Degaussing Systems Market Outlook, By Training (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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