Degaussing System Market

Degaussing System Market – Overview

The global degaussing system market is anticipated to grow at a healthy rate during the forecast period (2021 to 2031). Several aspects are expected to drive the global degaussing system market during the forecast period. The most important aspect is the increase in maritime warfare exercises and other related testing tactics.

Moreover, rising defense investment and budgets are projected to provide significant growth opportunities for the global degaussing system market during the projected period. Aside from that, advancements in technology in terms of degaussing equipment and the increased importance of degaussing systems in naval warfare are likely to boost the global degaussing system market in the coming years.

Degaussing System Market – Competitive Landscape

Key players active in the global degaussing system market include Ultra Electronic (UK), L&T (India), Polyamp (Sweden), Surma LTD. (Switzerland), ECA (France), Dayatech Merin (Malaysia), Ifen SpA (Italy), AMSC (US), STL System AG (Switzerland), and among others.

Market players are focusing on the development of novel degaussing processes to upgrade current and traditional degaussing systems. For example, American Superconductor Corporation introduced the first high-temperature superconductor (HTS) degaussing cable in order to capitalize on new market potential. Such HTS cables have been shown to cut cable weight by 20%, installation costs by 40%, and use lesser operating voltages. Companies can reinforce their growth plans with significant cash infusions in the future by introducing such products into the market.

Degaussing System Market – Trends and Opportunities

The growing adoption of degaussing systems in naval warfare, owing to their logistical and technical support such as magnetic ranging, magnetic signature management, integration assistance, demagnetization treatment and system calibration, and integrated logistics, is anticipated to fuel the growth in the global degaussing system market over the forecast period. Increased installation of degaussing systems in current and emerging warships to reduce or remove the magnetic field of vessels is expected to boost the global degaussing system market. Moreover, technical advances in degaussing equipment are likely to drive the global degaussing system market over the forecast period. Furthermore, increased military activities and financial investments for defense in order to upgrade naval fleets are likely to promote global degaussing system market growth over the forecast period.

Increased utilization of degaussing systems for technological research in high-temperature superconducting materials, multi-influence range, onboard aerial ranging is anticipated to propel the global degaussing system market growth during the projection period.

The growing need for degaussing systems in maritime exercises such as evaluating naval tactics, computer-based networked war simulation, and validating tactical mathematical models is likely to generate tremendous opportunities for participants in the worldwide degaussing system market in the coming years.

Degaussing System Market – Regional Landscape

The degaussing system market in Asia Pacific is projected to expand during the forecast period. Territorial claims in the South China Sea have escalated the region's procurement of modern degaussing systems, which is expected to boost the regional market. The polarization of military power along the Pacific Ocean's east and west coasts and the Asia Pacific area has resulted in increased spending on the advancement of defense equipment to bolster naval vessel protection. Moreover, the requirement to upgrade naval fleets has aided in the development and integration of degaussing systems in Asia Pacific countries, which is anticipated to propel the degaussing system market in Asia Pacific. Furthermore, South Korea, China, and Japan are projected to be major markets in the Asia Pacific.

The North America degaussing system market is expected to witness considerable growth over the forecast period, owing to increased military spending on the advancement of defense equipment in order to bolster naval vessels in the region.