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Degaussing System Market Trends

Report ID: GMI7023
Published Date: Oct 2023
Report Format: PDF

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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.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for degaussing system 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, favored by its increasing importance in naval warfare.

The degaussing coils segment held a market share of over 25% in 2022 as they are essential for effectively reducing the magnetic signatures of ships and submarines.

North America market for degaussing system held a revenue share of over 30% in 2022 and will continue growing through 2032 as the region has a strong emphasis on naval modernization with the U.S. Navy and other maritime defense organizations upgrading their fleets.

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