Global Degaussing System Market, By Vessel Type (Small Vessels (200 M)), Solution (Degaussing, Ranging, Deperming), End-User (OEMs, Aftermarket, Services), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2028

Market Analysis and Insights : Global Degaussing System Market

The degaussing system market is expected to witness market growth at a rate of 3.90% in the forecast period of 2021 to 2028 and is expected to reach USD 1,288.56 million by 2028. Data Bridge Market Research report on degaussing system market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The high need in naval warfare globally is escalating the growth of degaussing system market.

The degaussing system refers to a type of system that assists in reducing unwanted magnetic fields stored in hard drives, diskettes, computers, reels or cassettes, and cartridge tapes. The magnetic data of the hard disk or tape is either neutralize or gets erased when it is visible to the powerful magnetic field of the degausser.

The rise in the defence budgets across the globe acts as one of the major factors driving the growth of degaussing system market. The increase in the significance of degaussing systems in naval warfare and surge in deployment of degaussing systems in existing and new warships for decreasing or eliminating the magnetic field of vessels accelerate the market growth. The high adoption due to the logical and technical support such as demagnetization treatment, system calibration, magnetic signature management, magnetic ranging, integrations assistance, and integrated logistics, and rise in defence spending to modernize the naval fleets further influence the market. Additionally, expansion of defence sector, growing naval vessel fleet, and surge in military expenditure positively affect the degaussing system market. Furthermore, introduction of advance technology in degaussing system extend profitable opportunities to the market players in the forecast period of 2021 to 2028.

On the other hand, the high cost of retrofit, installation, calibration services, and limited number of ranging and deperming stations are expected to obstruct the market growth. The use of composite materials in warships and lack of skilled professionals are projected to challenge the degaussing system market in the forecast period of 2021-2028.

This degaussing system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on degaussing system market, contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Degaussing System Market Scope and Market Size

The degaussing system market is segmented on the basis of vessel type, solution, and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets. 

• On the basis of vessel type, the degaussing system market is segmented into small vessels (< 100 M), medium vessels (100-200 M), and large vessels (>200 M).
• On the basis of solution, the degaussing system market is segmented into degaussing, ranging, and deperming.
• On the basis of end-user, the degaussing system market is segmented into OEMs, aftermarket and services.

Global Degaussing System Market Country Level Analysis

The degaussing system market is analysed and market size, volume information is provided by country, vessel type, solution, and end user as referenced above.       

The countries covered in the global degaussing system market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America is expected to dominate the degaussing system market due to prominent players within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the rise in defense expenditure by developing economies such as China and India.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Degaussing System Market Share Analysis

The degaussing system market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to degaussing system market.

The major players covered in the degaussing system market report are LARSEN & TOUBRO LIMITED., Polyamp AB, Wärtsilä, Ultra., ECA GROUP, IFEN S.p.a., Dayatech Merin Sdn Bhd, American Superconductor., STL Systems AG, Surma Ltd, L3Harris Technologies, Inc., and Groupe Gorgé among other domestic and global players. Market share data is available for international, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.