(MENAFN- IMARC Group)
The latest report by IMARC Group, titled“ Degaussing System market Report by Vessel Type (Small Vessel, Medium Vessel, Large Vessel), Solution (Degaussing, Ranging, Deperming), End User (OEM, Aftermarket, Services), and Region 2024-2032 “, The global degaussing system market size reached US$ 631.65 Million in
2023. Looking forward, IMARC Group expects the market to reach US$ 873.21 Million by
2032, exhibiting a growth rate (CAGR) of 3.66% during
2024-2032.
Factors Affecting the Growth of the Degaussing System Industry:
Technological Advancements:
The degaussing system market is witnessing transformation due to technological advancements in materials science and sensor technology. Additionally, modern degaussing systems are sophisticated, incorporating advanced materials that enhance the magnetic cloaking effectiveness, thereby providing superior protection against naval mines and other magnetic-triggered threats. Moreover, the integration of cutting-edge sensors in these systems allows for real-time monitoring and adjustment of the vessel's magnetic signature, ensuring optimal stealth capabilities under various operational conditions. These advancements improve the operational efficiency of degaussing systems and reduce the maintenance requirements, thereby lowering long-term costs for naval forces.
Increasing Investments in Naval Defense:
The rising geopolitical dynamics and evolving security threats are prompting nations to enhance their naval defense capabilities, with degaussing systems. Additionally, governments are channeling substantial investments into their naval forces, recognizing the strategic importance of maintaining advanced, threat-resilient fleets, which is contributing to the market growth. Moreover, degaussing systems equip naval vessels with essential protective measures against magnetic mines and similar underwater threats, representing another major growth-inducing factor. Also, the augmentation of naval budgets reflects a commitment to securing maritime boundaries and safeguarding crucial maritime trade routes. As naval fleets expand and modernize, the demand for advanced degaussing systems is driving market growth.
Rising Commercial Shipping Activities:
The globalization of economies and the liberalization of trade policies are expanding commercial shipping activities. In addition, the growing number of vessels traversing the world's oceans requires adequate protection against magnetic threats, especially in strategic and contested waterways, thus contributing to the market growth. Moreover, degaussing systems are crucial for these commercial vessels, providing them with a necessary defense mechanism to neutralize the threat posed by magnetic mines and ensure uninterrupted maritime commerce. Furthermore, the rising shipping activities are escalating the demand for maritime safety measures, pushing commercial ship operators to invest in advanced degaussing solutions.
Competitive Landscape with Key Player:
American Superconductor DA-Design Oy Dayatech Merin Sdn. Bhd. Depei International SRL ECA Group (Groupe Gorgé) IFEN S.p.a. L3Harris Technologies Inc. Polyamp AB Ultra Electronics Holdings (Cobham Limited) Wärtsilä Oyj Abp
For an in-depth analysis, you can refer sample copy of the report:
https://www.imarcgroup.com/degaussing-system-market/requestsample
The report has segmented the market into the following categories:
Breakup by Vessel Type:
Small Vessel OPV MCMV and Minesweeper FAC (Fast Attack Craft)
Medium Vessel Submarines Corvettes Destroyers
Large Vessel Frigates Aircraft Carriers Amphibious Vessels
Medium vessel dominates the market due to the widespread use of degaussing technology in medium-sized vessels for effective magnetic signature management.
Breakup by Solution:
Degaussing Ranging Deperming
Degaussing solutions account for the largest market share owing to their efficiency in reducing a vessel's magnetic signature to enhance its stealth capabilities.
Breakup by End User:
Original equipment manufacturers (OEMs) represent the largest segment due to their expertise in integrating degaussing systems into new vessel constructions and retrofitting existing ones.Top of FormTop of Form
Market Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
North America's dominance in the degaussing system market is attributed to its extensive naval fleet modernization programs and investments in advanced maritime defense technologies.
Global Degaussing System Market Trends:
At present, the growing focus on naval modernization programs is escalating the demand for degaussing systems in the defense sector. Degaussing systems are essential in reducing the magnetic signature of naval vessels, enhancing their stealth capabilities and protection against magnetic mines. Moreover, the rising security concerns about maritime security threats, such as underwater mines and submarine warfare, are driving the adoption of degaussing systems by navies across the globe. Governments are investing in advanced degaussing solutions to safeguard their naval assets and ensure operational readiness. Besides this, the integration of degaussing systems with IPMS is gaining traction, enabling seamless control and monitoring of vessel magnetism alongside other critical ship systems which enhances overall vessel management capabilities and improves operational effectiveness.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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