Degaussing System Market Set for Growth with a Projected Value of USD 1 Billion by 2030

According to Next Move Strategy Consulting, the global Degaussing System Market is expected to grow significantly to USD 1 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 4% by 2030. Degaussing systems, primarily utilized for reducing unwanted magnetic fields, play a crucial role in safeguarding naval vessels by minimizing their magnetic signatures. These systems are essential in reducing the vulnerability of ships to magnetically activated mines and enhancing ship survivability in naval warfare.

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Market Dynamics

The demand for degaussing systems is largely driven by their critical role in naval defense, where they are employed to protect warships from underwater mine threats. Major global powers, including the United States, China, and Russia, continue to increase their investments in advanced degaussing technologies to maintain the safety of their naval fleets. Additionally, the market is expected to benefit from the growing military spending aimed at modernizing naval forces and the development of more energy-efficient and lightweight systems using superconductors.

The growing significance of maritime defense is further evidenced by the escalating maritime tensions in the Asia-Pacific region, which are expected to spur increased defense spending and procurements of advanced degaussing systems. However, the high initial cost of installation and calibration services may present challenges to the market growth.

Technological Trends and Developments

The degaussing system market is poised for innovation, with advancements such as the development of High-Temperature Superconducting (HTS) degaussing technology. This breakthrough reduces the weight and energy consumption of degaussing systems, offering significant advantages over conventional products. The U.S. Naval Surface Warfare Center’s 2021 contract with American Superconductor Corporation (AMSC) to supply equipment for HTS degaussing systems is a prime example of the ongoing technological advancements within the industry.

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Market Segmentation and Scope

The market is segmented based on solution, vessel type, application, and geography. Key solutions within the market include degaussing, ranging, and deperming systems. The vessel types served by degaussing systems range from small vessels such as Mine Countermeasure Vessels (MCMV) and Offshore Patrol Vessels (OPV) to larger vessels including aircraft carriers and frigates. Additionally, the market spans various applications, including external and shipborne systems.

Geographically, North America holds the largest share, primarily due to the high defense expenditure in the U.S. and technological advancements in degaussing systems. However, the Asia-Pacific region is expected to witness steady growth driven by increasing naval activities and heightened security concerns.

Competitive Landscape

The degaussing system market includes a diverse range of players, including prominent companies like L&T, Polyamp, ECA, Ultra Electronics, Ifen SPA, Dayatech Merin, and American Superconductor Corporation. These companies are expanding their market presence through strategic agreements, partnerships, and contracts with defense agencies globally. For example, American Superconductor Corporation secured a USD 14.94 million contract in 2021 to supply degaussing equipment for U.S. Navy vessels, further solidifying its position in the market.

Conclusion

The global degaussing system market is poised for continued growth, driven by rising demand for naval defense solutions and ongoing technological advancements. The expansion of naval forces across various regions, coupled with the increasing need to safeguard vessels from underwater mine threats, presents significant growth opportunities for market players. However, high costs and complex installation processes remain key challenges that need to be addressed. As defense spending continues to rise and new technologies emerge, the market is expected to evolve rapidly, creating numerous opportunities for innovation and market expansion.

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