Degaussing System Market Analysis | 2024-2030

Market Insights

"The Degaussing System Market is likely to witness a healthy CAGR of 4.2% during the forecast period".

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Market Dynamics

Introduction

Degaussing System is the method that is used to decrease the magnetic field of anything such as ships. It was initially being used in the magnetic structures of ships during World War II.

The Degaussing System is used for small vessels, medium vessels, as well as large vessels. Original equipment manufacturers, aftermarket, and services are some of the end-users for the degaussing system.

Market Drivers 

The degaussing system market is driven by a host of factors, some of which are noted below:

• Rising defense budgets of both developed and developing economies
• The increasing importance of degaussing system in naval warfare.
• Technological advancement in degaussing systems is the major factor driving the growth of the market globally.

Segment Analysis

By Vessel Type

"Medium vessel segment is expected to lead the market during the forecast period"

Based on the vessel type, the market has been segmented as small vessels, medium vessels, and large vessels. The medium vessel segment is expected to lead the market during the forecast period. The growing need to protect submarines from enemy mines placed underwater by carrying out degaussing activities is the major factor behind the dominance of the medium vessel segment.

By Solution Type

"Degaussing solution segment is estimated to lead the market during the forecast period"

Based on the solution type, the market has been segmented as ranging, degaussing, and deperming. The degaussing solution segment is estimated to lead the market during the forecast period.  The adoption of degaussing systems in naval warfare to protect ships from enemy mines drives the growth of this segment.

By End-User Type

"OEM segment will depict the highest growth during the forecast period"

Based on the end-user type, the degaussing system market is segmented as original equipment manufacturer, aftermarket, and services. It is estimated that the OEM segment will depict the highest growth during the forecast period, owing to the increase in the delivery of new ships across the globe.

By Region

"North America is expected to register the highest growth during the forecast period"

In terms of regions, North America is expected to register the highest growth during the forecast period. The rise in defense budgets and the need to safeguard vessels from the enemy are the drivers of the degaussing system market in the region. Asia-Pacific is the largest market for degaussing systems and is expected to retain its position during the forecast period. Territorial dispute in the South China Sea has led to the increase in obtaining of advanced degaussing system in the Asia-Pacific region.

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Key Players

The following are the key players in the Degaussing System Market (arranged alphabetically)

• American Superconductor
• Dayatech Merin Sdn. Bhd.
• ECA Group
• IFEN S. p.A.
• Larsen & Turbo Limited
• L3 Technologies
• Polyamp AB
• STL Systems AG
• Wartsila
• Ultra Electronics Holdings

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Vessel Type 

• Small Vessels
• Medium Vessel
• Large Vessel

By Solution 

• Ranging
• Degaussing
• Deperming

By End-User Type 

• Original Equipment Manufacturer
• Aftermarket
• Services

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s degaussing system market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research:

Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.