Degaussing System Market is projected to reach a value of over USD 1.1 billion by 2027
Degaussing System Market: Summary
The Global Degaussing System Market is projected to reach a value of over USD 1.1 billion by 2027 at a CAGR of around 3.7%.
The Degaussing system refers to a steel hulled ship, large floating magnet covered by a large magnetic field. It is used for the metal parts as well as for the electronic devices which are at risk of magnetic device. However, the system prevents magnetic disturbance which helps for reducing the ship effect on the earth magnetic field.
Hence, to avoid the interference of magnetic compasses through the degaussing coil’s magnetic field, the degaussing control unit is use to manage and detect coil current and also compass compensating components.
Degaussing System Market: Drivers & Challenges
Market Driver:
- Growing Technological Advancement in Degaussing System
With the growing the technological advancement is witness to increase scalability and performance of the market in the forecast period. Also with the rapid development of technology in the degaussing system will lead to boost the maritime technology in submersible vehicle. However, it provides new opportunities for the naval architect for designing the advance degaussing systems. Moreover, increasing the warfare threat will help to reduce the risk of navel mine strikes with the technology adoption which will enhance the market growth.
Hence, the increasing growth in technology in degaussing equipment and also the advancement of degaussing system in the navel welfare is projected to fuel the overall market for the degaussing system in the forecast period.
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Market Challenges:
- High Cost Issues
One of the major key concern of the degaussing system market is the high cost of retrofit, calibration services, and installation. As well as the short number of ranging and deperming stations and usage of composite materials in the warship will also lead to hamper the growth of the market. However, the installation of this unique equipment is very expensive as well as its difficult to services all the ships which is need to serve will create a major restraining factor in the growth of the market in the forecast period.
Hence, the lack of skilled professionals in the field of the systems is also perform as a threat for the market growth.
Degaussing System Market: Key Segments
- Segmentation based on Vessel Type: Small Vessels, Medium Vessel and Large Vessels.
- Segmentation based on Product: Hardware and Software.
- Segmentation based on Component: Solution and Services.
- Segmentation based on End-Use: Original Equipment Manufacturer (OEM) and Aftermarket.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
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Degaussing System Market: Report Scope
The report on the degaussing system market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features
Specifics
Historical/Estimated/Forecasted Market Size Years
2019–2027
Base Year for Market Calculation
2020
Forecasted Period
2021–2027 (2021 estimated year, forecasted up to 2027)
Measured Units
Value (USD Million)
Segments Included
Vessel Type, Product, Component, End-Use, and Region
Regional Coverage
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- LARSEN & TOUBRO LIMITED (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Polyamp AB
- Ultra Electronics
- Wärtsilä
- ECA GROUP
- Dayatech Merin Sdn Bhd
- IFEN S.P.A.
- American Superconductor
- STL Systems AG
- L3Harris Technologies, Inc.
- Other Key Companies
- Surma Ltd
- Vallon GmbH
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Degaussing System Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Degaussing System Market, by Vessel Type
- Small Vessels
- Medium Vessel
- Large Vessels
Degaussing System Market, by Product
- Hardware
- Conductors
- Magnetometers
- Bipolar Amplifiers
- Magnetometers
- Degaussing Coil Units
- Software
Degaussing System Market, by Component
- Solution
- Degaussing
- Ranging
- Services
Degaussing System Market, by End-Use
- Original Equipment Manufacturer (OEM)
- Aftermarket
Degaussing System Market, by Region
- North America
- US
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Taiwan
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Content
1 Introduction
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL DEGAUSSING SYSTEM MARKET BY VESSEL TYPE, Market Size in USD Million (2019–2027)
7 GLOBAL DEGAUSSING SYSTEM MARKET PRODUCT, Market Size in USD Million (2019–2027)
8 GLOBAL DEGAUSSING SYSTEM MARKET BY COMPONENT, Market Size in USD Million (2019–2027)
9 GLOBAL DEGAUSSING SYSTEM MARKET BY END-USE, Market Size in USD Million (2019–2027)
10 Competitive Landscape
11 Company Profiles
12 Appendix
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