Degaussing System Market size is anticipated to grow at a CAGR of over 4.5% between 2023 and 2032

Degaussing System Market Size

Degaussing System Market size was worth more than USD 587.3 million in 2022 and is expected to grow at a CAGR of more than 4.5% during 2023-2032.

The rising need for degaussing systems in naval combat is fueling market growth as they lower a ship’s magnetic signature.

Magnetic mines lie in wait like silent killers in today’s ocean battles. These mines lurk, feeling out ships, their magnetic fingerprint like sharks following blood. But navies possess a magic bullet to safeguard their shipsdegaussing systems. They are like sorcery, de-randomizing a vessel’s magnetic signature. It is like placing an impenetrable shield so the vessel cannot be detected by the mines. This decreases the chances of the vessel being blown to bits. With so much peril beneath our seas, navies across the globe are beating down their doors for up-to-date degaussing technology to safeguard their valued vessels. It’s one aspect of not being safe where harm is most likely to strike. Last year, the leading sea powers globally were all preoccupied with improving their capacity for battle nearshore. Why? Because those coastal waters are riddled with unseen perils such as mines and submarines that can detect magnetic fields. So, degaussing systems that can conceal a ship’s magnetic signature are in great demand. Firms such as PNI Sensor and Polyamp are at the forefront of creating these life-saving technologies. They’re employing all manner of sophisticated tricks, such as pairing motion tracking with sensor systems, to develop their degaussing systems into the world’s best.

Attributes of the Degaussing System Market Report
Report Attribute Details
Base Year 2022
Degaussing System Market Size in 2022 USD 587.3 Billion
Forecast Period 2023 to 2032
Forecast Period 2023 to 2032 CAGR 4.5%
2032 Value Projection USD 900 Billion
Historical Data for 2018 to 2022
No. of Pages 220
Tables, Charts & Figures 373
Segments covered Vessel Type, Component, Solution, End-use industry & Region
Growth Drivers
Growing significance of degaussing systems in naval warfare
Improvements in technology in degaussing equipment for protecting naval ships
Growing defense expenditure to buy technologically advanced warships
Prioritization of strengthening protection for maritime assets and personnel
Enhanced submarine deployments
Traps & Pitfalls
Implementation of composite materials in warships

COVID-19 Impact
The COVID-19 pandemic exerted adverse effects on degaussing systems deployed in the maritime sector. Lockdowns and supply chain interruptions slowed maintenance and calibration of these systems onboard ships. Fewer crew available and safety risks limited regular checks, with enhanced risk of magnetic interference. Besides, movement limitations made it complicated to send in technicians for the installation and servicing of the systems. These disruptions undermined the efficacy of degaussing systems, which play a key role in safeguarding ships against magnetic mines and guaranteeing safe passage, compromising maritime security during the pandemic.

Degaussing System Market Trends
The industry of degaussing systems is experiencing robust growth with increasing naval modernization globally. There is growing interest in naval security and the imperative to neutralize magnetic mines, leading countries to invest in high-end degaussing systems. These systems significantly demagnetize naval ships, thereby increasing their survivability against enemy threats. Demand for state-of-the-art degaussing technology arises out of the strategic need to defend naval assets and safeguard maritime operations.

Commercial shipping companies have an increasing imperative to meet environmental requirements and ship safety. Systems used for degaussing vessels help minimize their magnetic signatures for addressing both environment and navigation concerns. With an increase in maritime activities worldwide as the shipping market expands, integrating degaussing technology has emerged as a primary imperative in adherence to regulatory stipulations.

Analysis of the Market for Degaussing Systems
Discover more about the salient segments contributing to this market

On the basis of component, the market is divided into power supplies, degaussing coils, control units, and monitoring systems. The degaussing coils segment held the highest share in the global market at over 25% in 2022.

Degaussing coils play a crucial role in efficiently minimizing ships’ and submarines’ magnetic signatures. With the naval and maritime commercial industries focusing on reducing their magnetic footprint to ensure security & environmental protection, the need for sophisticated degaussing coils is on the rise.
Growing need for degaussing systems has created a competitive market where organizations strive to provide the most effective and sophisticated solutions. Degaussing coils are an important component of such systems, and their development is crucial to maintaining competitiveness in the market.

based on solution, the market is segmented into ranging [fixed, onboard], degaussing [products {hardware, software}, services]. The market further breaks down the degaussing into products {hardware, software}, services. The ranging segment is expected to record a CAGR of more than 5.5% over 2032.

The continuous modernization of naval fleets across the globe highlights the necessity for sophisticated degaussing solutions to neutralize magnetic mines and enhance ship survivability in contemporary naval warfare. As threats continue to evolve, such as magnetic mines and underwater weapons, the significance of efficient degaussing solutions has grown to protect naval assets and personnel.
In the commercial shipping industry, degaussing solutions are critical to environmental compliance and vessel safety through the reduction of their magnetic signatures, which is crucial for both environmental protection and safe navigation. Advances in degaussing technology have led to more effective, cost-saving, and easy-to-use solutions, which are becoming more appealing to naval and commercial operators.
Seeking region specific data?

North America is like a champion when it comes to the worldwide business of protecting ships from magnetic mines. In 2022, they enjoyed a massive 30% share of the pie. The United States in particular wants to see their navy and other sea protectors get a leg up, so they’re spending lavishly on new vessels with sophisticated degaussing systems. These systems are like magic wands that can make ships invisible to magnetic mines, which is pretty handy if you want to avoid getting blown up. But it’s not just the navy that’s into degaussing. The shipping industry in North America is also getting in on the action, because degaussing helps ships meet those pesky environmental rules and makes them safer overall. And as North America is a shipping center, ports and vessels are equipping themselves with degaussing systems like crazy to ensure that everything remains safeguarded from those crafty magnetic mines.

Degaussing System Market Share

Players operating in the market focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players are also heavily investing in R&D to introduce innovative and technologically advanced solutions in the degaussing system industry. Some major players operating in the degaussing system industry are mentioned below

• Wartsila
• Larsen & Turbo Limited
• Ultra Electronics Holdings Plc
• L3Harris Technologies Inc.
• American Superconductor Corporation
• Polyamp
• Dayatech Merin