The Global Degaussing System Market is projected to reach a value of over USD 1.1 billion by 2027 at a CAGR of around 3.7%.
The Degaussing system refers to a steel hulled ship, large floating magnet covered by a large magnetic field. It is used for the metal parts as well as for the electronic devices which are at risk of magnetic device. However, the system prevents magnetic disturbance which helps for reducing the ship effect on the earth magnetic field.
Hence, to avoid the interference of magnetic compasses through the degaussing coil’s magnetic field, the degaussing control unit is use to manage and detect coil current and also compass compensating components.
Market Driver:
With the growing the technological advancement is witness to increase scalability and performance of the market in the forecast period. Also with the rapid development of technology in the degaussing system will lead to boost the maritime technology in submersible vehicle. However, it provides new opportunities for the naval architect for designing the advance degaussing systems. Moreover, increasing the warfare threat will help to reduce the risk of navel mine strikes with the technology adoption which will enhance the market growth.
Hence, the increasing growth in technology in degaussing equipment and also the advancement of degaussing system in the navel welfare is projected to fuel the overall market for the degaussing system in the forecast period.
Market Challenges:
One of the major key concern of the degaussing system market is the high cost of retrofit, calibration services, and installation. As well as the short number of ranging and deperming stations and usage of composite materials in the warship will also lead to hamper the growth of the market. However, the installation of this unique equipment is very expensive as well as its difficult to services all the ships which is need to serve will create a major restraining factor in the growth of the market in the forecast period.
Hence, the lack of skilled professionals in the field of the systems is also perform as a threat for the market growth.
The report on the degaussing system market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million) |
Segments Included |
Vessel Type, Product, Component, End-Use, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Degaussing System Market, by Vessel Type
Degaussing System Market, by Product
Degaussing System Market, by Component
Degaussing System Market, by End-Use
Degaussing System Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE DEGAUSSING SYSTEM MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY