DEGAUSSING SYSTEM MARKET TO REACH USD 1.1 BILLION BY 2027 | CAGR 3.7% – FORENCIS RESEARCH

Degaussing System MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Degaussing System Market: Key Highlights

  • According to the new market research report Degaussing System Market by Vessel Type (Small, Medium, Large), by Component (Solution, Services), by Product (Hardware, Software), by End-Use (OEM, Aftermarket), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global Degaussing System Market is estimated to reach USD 1.1 Billion by 2027 at a CAGR of around 3.7 % during the review period.
  • The system is used for the metal parts as well as for the electronic devices which are at risk of magnetic device. As well as it helps to reduce the magnetic signature of a wide range of vessels.
  • Moreover, 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.

Degaussing System Market

Global Degaussing System Market: Key Market Dynamics

  • With the growing the technological advancement is witness to increase scalability and performance of the market in the forecast period. Moreover, the rapid development of technology will lead to boost the maritime technology in submersible vehicle.
  • The system is projected to increase a significant growth in the future with the growing installation of degaussing system in new as well as in the existing warships to reduce the magnetic signature of vessels.
  • 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.
  • Rising demand in naval welfare and advancement in the degaussing system will lead to boost the growth of the market in the forecast period.

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Global Degaussing System Market: Regional Overview

  • Asia-Pacific:

The Asia-Pacific is one of the largest market player for the degaussing system market which will lead to increase the growth of the market in the forecast period. However, in South China Sea the territorial disputes will also witness to boost the procurement of advanced degaussing system in the region  As well as the distribution of power in the East and West coast of the Pacific Ocean and the region has risen the spending on the equipment for defense to enhance the naval vessels.

Hence, Asia-Pacific is witness to increase the demand for the market in China, Japan and South Korea will lead to fuel the growth of the market

  • Europe

In the region, the European Commission has introduced the European action plan to enhance the innovation and competitiveness of the defense sector and also to develop a strong European defense technological. Moreover, in 2016 the European Defense Action Plan (EDAP), has taken initiative for support and development of the defense industries. Also its lead to help and support the research and joint development of defense with the European Union budget funds.

Hence, region is one of the major player in the development and support of defense sector, which will lead to enhance the growth of the degaussing system market.

Global Degaussing System Market: Key Players Overview

  • Polyamp AB:

The company develop and manufacture of Direct Current (DC) and Direct Current (DC) Converter and one of the major supplier for the power. Also the company provides a voltage converters with its high reliability with can be used for harsh environments. Polyamp Degaussing Systems (DEGS) are known to be one of the most reliable and efficient in the world. However, the DEGS is introduce with full computerized modules with the features of fault tolerant distribution communications.

  • Ultra Electronics:

Ultra Electronics is a British company which provide services for defense, security, critical detection and also for controls markets. The company produce airport operation, baggage management, manned aircraft and vessel, unmanned aerial vehicle & naval, and security systems. The company provides signature analysis and magnetic and electric field modelling capability with the integrated signature management (ISM) for the navies globally. In 2020 the company had received an award for the Ultra Electronics a contract of USD 42.2 million for the Next Generation Surface Search Radar (NGSSR) systems.

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Published : 2020-07-27