The Global Degaussing System Market size was estimated at USD 583.92 million in 2022 and expected to reach USD 606.11 million in 2023, projecting growth at a CAGR of 4.09% to reach USD 804.83 million by 2030.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.

Cumulative Impact of COVID-19:

The COVID-19 pandemic has had an immense impact on the degaussing system market due to decreased demand for degaussing systems from consumers. As many organizations have implemented remote working policies or stopped operations altogether due to government regulations or financial hardship, there has been a decrease in demand for these systems. Additionally, investments in degaussing systems by end-users have dwindled significantly over the past year.

Cumulative Impact of Russia-Ukraine Conflict:

The ongoing conflict between Russia and Ukraine has also had an effect on the degaussing system market. Due to economic sanctions against Russia imposed by various countries around the world, trade restrictions have made it difficult for companies operating in this space to source components necessary for building these systems. Furthermore, sanctions imposed by various countries are making it more difficult for manufacturers to export their products overseas as well as import components from overseas suppliers. This is leading to increased costs for manufacturers and ultimately higher prices for customers looking to purchase degaussing systems.

Cumulative Impact of High Inflation:

High inflation levels are also having an impact on the degaussing system market. As prices of raw materials rise due to economic conditions around the world, manufacturers are forced to raise their prices in order to remain profitable while still covering their costs of production. This has led customers struggling financially due to other global events such as COVID-19 or the Russia-Ukraine conflict to be unable or unwilling to invest in new degaussing systems which would further limit potential sales opportunities in this sector.

Market Dynamics:

The market dynamics represent the ever-shifting landscape of the Global Degaussing System Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.

  • Drivers
    • Increasing demand in naval warfare to protect uninterrupted functioning of naval vessels
    • Rising government investment in the military and defense sector
    • Growing use of defense technology by the maritime trade firms
  • Restraints
    • High cost of the degaussing system owing to the presence of magnetometers, DC generators, sensors, control units, and amplifiers
  • Opportunities
    • Integration of AI, ML, and IoT in degaussing system
    • Rising utilization of degaussing system for technological research in high-temperature superconducting materials
  • Challenges
    • Growing preference for composite materials in warships

Market Segmentation & Coverage:

    This research report categorizes the Global Degaussing System Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:

  • Based on Products, the market is studied across Hardware, Services, and Software. The Hardware is further studied across Bipolar Amplifiers, Control Units, Degaussing Coils, Power Supplies, and Yokes. The Software is further studied across Control Systems, Ranging, and Remote Monitoring.
  • Based on Coil Layout, the market is studied across Athwartship Coil, Forecastle Induced - Quarterdeck Induced Coils (FI-QI), Forecastle Permanent – Quarterdeck Permanent Coils (FP-QP), and Main Coil.
  • Based on Vessel Type, the market is studied across Large Vessel, Medium Vessel, and Small Vessel. The Large Vessel is further studied across Aircraft Carriers, Amphibious Vessels, and Frigates. The Medium Vessel is further studied across Corvettes, Destroyers, and Submarines. The Small Vessel is further studied across Fast Attack Craft (FAC), Littoral Combat Ships, Mine Countermeasures Vessel (MCMV)/Minesweeper, and Offshore Patrol Vessels (OPV).
  • Based on End-Users, the market is studied across Aftermarket and OEM.
  • Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

Company Usability Profiles:

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Degaussing System Market, including American Superconductor Corporation, DA Group, Dayatech Merin Sdn Bhd, Depei International S.r.l., Diverse Technologies Ltd., ECA Group, EWM AG, Ideal Systems (Singapore) Pte Ltd., IFEN SpA, Intimus International GmbH, L3Harris Technologies, Inc., Larsen & Toubro Limited, Maurer Magnetic AG, Polyamp AB, SAV France, STL Systems AG, Tecomar S.L., UKB Electronics Pvt. Ltd., Ultra Electronics Holdings PLC, Vallon GmbH, VS Security Products, Wisetek, and W?rtsil? Corporation.

The report provides insights on the following pointers:

  • Market Penetration: Provides comprehensive information on the market offered by the key players
  • Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  • Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
  • Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
  • Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
  • Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

  • What is the market size and forecast of the Global Degaussing System Market?
  • What are the inhibiting factors and impact of COVID-19 shaping the Global Degaussing System Market during the forecast period?
  • Which are the products/segments/applications/areas to invest in over the forecast period in the Global Degaussing System Market?
  • What is the competitive strategic window for opportunities in the Global Degaussing System Market?
  • What are the technology trends and regulatory frameworks in the Global Degaussing System Market?
  • What is the market share of the leading vendors in the Global Degaussing System Market?
  • What modes and strategic moves are considered suitable for entering the Global Degaussing System Market?