Degaussing System Market - By Vessel Type (Small Vessel, Medium Vessel, Large Vessels), By Component (Power Supplies, Degaussing Coils, Control Units, Monitoring Systems), By Solution, By End-use Industry & Forecast 2023 – 2032

Degaussing System Market Size

Degaussing System Market was valued at over USD 587.3 million in 2022 and is anticipated to grow at a CAGR of over 4.5% between 2023 and 2032. The increasing importance of degaussing systems in naval warfare is driving market growth as they reduce a vessel's magnetic signature.
 

In modern naval warfare, magnetic mines pose a significant threat. Degaussing systems effectively neutralize a ship's magnetic field, making it less susceptible to these mines, thus enhancing naval vessel survivability. With navies worldwide recognizing the need to safeguard their assets in conflict zones, the demand for advanced degaussing technology is on the rise. This crucial aspect of naval defense is propelling the degaussing system industry growth to meet the evolving security challenges. For instance, in September 2020, the world’s naval powers beefed up their littoral combat capabilities to protect and penetrate coastal waters, an effort that brought attention to magnetic sensing of submarines, underwater mines, and ships. Advancements in degaussing systems designed to conceal underwater magnetic signatures are also boosting market growth. One company benefitting from the effort is PNI Sensor of Santa Rosa, CA, a specialist in precision location, motion tracking, and the fusion of sensor systems into real-world applications. Another company serving this market is Polyamp in Sweden, which manufactures both magnetic mine sweep and vessel degaussing systems.
 

The lack of skilled professionals in the degaussing system market poses challenges for end users as it hinders the proper installation, maintenance, and operation of these complex systems. Skilled personnel are required to effectively design, implement, and service degaussing solutions. The shortage of qualified experts can lead to suboptimal system performance, increased downtime, and higher operational costs. It also restricts end-users' ability to harness the full benefits of advanced technology, impacting both the naval and commercial sectors. To address this challenge, training and workforce development initiatives are essential to ensure the market's sustainable growth and meet the increasing demand for degaussing systems.
 

COVID-19 Impact

The COVID-19 pandemic had negative impacts on degaussing systems used in the maritime industry. Lockdowns and supply chain disruptions delayed the maintenance and calibration of these systems on ships. Reduced crew availability and safety concerns hindered regular inspections, leading to increased risk of magnetic interference. Additionally, travel restrictions made it difficult to deploy technicians for system installations and repairs. These disruptions compromised the effectiveness of degaussing systems, which are crucial for protecting vessels against magnetic mines and ensuring safe navigation, jeopardizing maritime security during the pandemic.
 

Degaussing System Market Trends

The degaussing system industry is witnessing significant growth due to global naval modernization efforts. With an increasing focus on naval security and the need to counteract magnetic mines, various countries are investing in advanced degaussing systems. Such systems effectively reduce the magnetic signatures of naval vessels, enhancing their survivability in hostile environments. The demand for modern degaussing technology is driven by the strategic imperative to protect naval assets and ensure the safety of maritime operations.
 

Commercial shipping operators face a mounting pressure to comply with environmental regulations and ensure the safety of their vessels. Degaussing systems play a crucial role in reducing the magnetic signatures of ships, addressing both environmental concerns and navigational safety. As the shipping industry is expanding globally, the adoption of degaussing technology has become essential in meeting regulatory requirements.
 

Degaussing System Market Analysis

Based on component, the market is segmented into power supplies, degaussing coils, control units, and monitoring systems. The degaussing coils segment dominated the global market with a share of over 25% in 2022.
 

• Degaussing coils are essential for effectively reducing the magnetic signatures of ships and submarines. As naval and commercial maritime industries seek to minimize their magnetic footprint for security & environmental reasons, the demand for advanced degaussing coils has increased.
   
• The increasing demand for degaussing systems has led to a competitive market where companies aim to offer the most efficient and advanced solutions. Degaussing coils are a critical part of these systems, and their improvement is essential to staying competitive in the market.
   

Based on solution, the market is divided into ranging [fixed, onboard], degaussing [products {hardware, software}, services]. The degaussing is further categorized into products {hardware, software}, services.  The ranging segment is anticipated to register a CAGR of over 5.5% through 2032.
 

• The ongoing modernization of naval fleets worldwide emphasizes the need for advanced degaussing solutions to counteract magnetic mines and improve vessel survivability in modern naval warfare. With the evolving nature of threats, including magnetic mines and underwater munitions, the importance of effective degaussing solutions has increased to safeguard naval assets and personnel.
   
• In the commercial shipping sector, degaussing solutions are vital for compliance with environmental regulations and to ensure the safety of vessels by reducing their magnetic signatures, which is important for both environmental conservation and navigational safety. Innovations in degaussing technology have resulted in more efficient, cost-effective, and user-friendly solutions, making them increasingly attractive to naval and commercial operators.
   

North America dominated the global degaussing system market with a share of over 30% in 2022. The region has a strong emphasis on naval modernization with the U.S. Navy and other maritime defense organizations upgrading their fleets. The need to counteract magnetic mines and improve vessel survivability is driving the demand for advanced degaussing systems. Additionally, the region's commercial shipping industry is investing in degaussing technology to meet the environmental regulations and enhance safety. As North America remains a major hub for global trade, the adoption of degaussing systems in ports & on vessels is increasing to ensure compliance and protect valuable maritime assets.
 

Degaussing System Market Share

Players operating in the market focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players are also heavily investing in R&D to introduce innovative and technologically advanced solutions in the degaussing system industry. Some major players operating in the degaussing system industry are mentioned below:
 

• Wartsila
• Larsen & Turbo Limited
• Ultra Electronics Holdings Plc
• L3Harris Technologies Inc.
• American Superconductor Corporation
• Polyamp
• Dayatech Merin

Degaussing System Industry News

• In January 2022, Larsen & Turbo Limited developed advanced defense technologies for the Indian defense forces. The company degausses the hulls of cargo & oil tanker vessels and also provides repair & installation services.
   
• In November 2021, The Marine Electrical Systems division of Wärtsilä SAM Electronics GmbH received a contract from Damen to deliver degaussing systems, switchgears, lighting systems, and power distribution systems for the F126 project. With this contract, Wärtsilä has significantly supported the construction of frigates for the German Navy.
   

The degaussing system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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Market, By Vessel Type

• Small Vessel
  • OPV
  • MCMV/Minesweeper
  • FAC
• Medium Vessel
  • Submarines
  • Corvettes
  • Destroyers
• Large Vessel
  • Frigates
  • Aircraft Carriers
  • Amphibious Vessels

Market, By Component

• Power Supplies
• Degaussing Coils
• Control Units
• Monitoring Systems
• Others

Market, By Solution

• Ranging
  • Fixed
  • Onboard
• Degaussing
  • Product
    • Hardware
    • Software
  • Services
• Deperming

Market, By End-use Industry

• OEM
• Aftermarket
• Services

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA