PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532872
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532872
Degaussing System Market size was valued at USD 720.12 Million in 2023, expanding at a CAGR of 4.20% from 2024 to 2032.
A Degaussing System is a specialized technology used primarily in naval applications to reduce or eliminate the magnetic signature of ships and submarines. It works by generating electromagnetic fields through coils installed around the hull of the vessel. This process neutralizes the magnetic field that the vessel naturally acquires from its steel structure and electronic equipment. The primary use of Degaussing Systems is to enhance the stealth capabilities of naval vessels, making them less susceptible to detection by magnetic mines and other magnetic sensors employed in naval warfare.
Degaussing System Market- Market Dynamics
Need For Degaussing System In Navy And Defense Industry
In the navy and defense industry, Degaussing Systems are critical for reducing the magnetic signature of naval vessels like ships and submarines. This enhancement boosts their stealth capabilities, crucial for evading detection by magnetic sensors and underwater mines, which are significant threats in modern naval warfare. By minimizing their magnetic footprint, Degaussing Systems enhance operational security and mission success, enabling naval forces to operate more effectively in defensive and offensive scenarios. These systems also ensure vessels can navigate safely through magnetic-sensitive environments without triggering unwanted responses from devices or weaponry.
Recent developments highlight the importance of such technologies: the UK Ministry of Defense's £1.8 billion contract with Thales aims to enhance Royal Navy ship availability and resilience, while AMSC secured a $75 million contract for a proprietary ship protection system for multiple Canadian surface combatant ships. These contracts underscore the ongoing investment and deployment of advanced naval technologies to bolster defense capabilities worldwide.
Degaussing System Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.20% over the forecast period (2024-2032)
Based on Component segmentation, Control units were predicted to show maximum market share in the year 2023
Based on Solution segmentation, Degaussing was the leading type in 2023
Based on Vessel Type segmentation, Destroyers, and Frigates was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Degaussing System Market is segmented on the basis of Component, Solution, Vessel Type, End User, and Region.
The market is divided into five categories based on Component: Control units are crucial as they govern the entire operation of degaussing systems, ensuring precise control over the generation and modulation of magnetic fields. They play a pivotal role in integrating various components such as power supplies, degaussing coils, and monitoring systems into a cohesive system. Moreover, control units are essential for interfacing with shipboard systems and for integrating advanced technologies such as digital control and automation, which are increasingly important in modern naval applications. Therefore, control units tend to lead in driving the advancement and competitive edge within the Degaussing System market.
The market is divided into three categories based on Solution: Degaussing involves the process of reducing or eliminating the magnetic field of a vessel to minimize its magnetic signature, which is crucial for stealth and reducing the risk of magnetic mines. This process is essential for both military naval vessels and commercial ships operating in sensitive areas.
Degaussing System Market- Geographical Insights
The Degaussing System market in North America is robust and competitive, with several key players leading the charge. Companies such as American Superconductor Corporation (AMSC), L-3 Technologies (now part of L3Harris Technologies), and Ultra Electronics Ocean Systems are prominent. These companies are known for their significant expertise in electromagnetic technologies and defense systems, offering comprehensive solutions tailored to naval applications. The market is characterized by a focus on reducing the magnetic signatures of vessels to enhance stealth capabilities, which is particularly important for naval defense. Emerging trends include integrating advanced materials and digital technologies to improve system efficiency and effectiveness. Strategic partnerships and government contracts play a crucial role in shaping the competitive dynamics of this market, driving innovation and market expansion efforts across North America.
The Degaussing System market features a competitive landscape characterized by several key players vying for market share. Companies such as American Superconductor Corporation, L-3 Technologies, and Polyamp AB are prominent participants, known for their advanced technological capabilities and extensive product portfolios. These companies focus on offering comprehensive solutions for naval vessels and commercial ships to effectively manage magnetic signatures. The market is also influenced by emerging players leveraging innovative technologies in degaussing systems, contributing to competitive dynamics through product differentiation and cost-effective solutions. As the demand for effective degaussing systems continues to grow in both military and civilian sectors, competition is expected to intensify further, driving continuous innovation and strategic partnerships.
In June 2024, AMSC has broadened its ship protection system portfolio to include allied navies with its initial contract win. The company has secured a $75 million contract to supply its proprietary ship protection system for multiple Canadian surface combatant ships.
In Feb 2024, Babcock secured a new five-year contract from the UK Ministry of Defence (MOD) to extend its in-service support for the Royal Navy's Ships Protective System (SPS) equipment.
GLOBAL DEGAUSSING SYSTEM MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Wartsila Corporation
Larsen & Toubro Limited
Ultra Electronics Holdings plc
L3 Harris Technologies, Inc.
American Superconductor Corporation
Polyamp AB
Raytheon Technologies Corporation
Groupe Gorge
STL Systems AG
Hensoldt AG
ECA Group
Ifen SpA
Dayatech Merin
Surma Ltd
L3 Technologies Inc