DUBLIN, June 29, 2023 /PRNewswire/ — The “Degaussing System Market Share, Size, Trends, Industry Analysis Report, By Vessel Type, By Solution, By End User, By Region, Segment Forecast, 2023-2032” report has been added to ResearchAndMarkets.com’s offering.
The global degaussing system market size is expected to reach USD 836.95 million by 2032
International boundary disputes and security are increasing the expense of naval defense. Developing countries are spending more money on naval defense. The Indian government boosted its spending for defense research and development (R&D) by 17.57 percent from 2021 to 2022.
Each of the three categories: businesses, startups, and academic institutions receives 25% of the R&D budget. This funding, which aims to promote innovation and localization, is also a positive thing. This will lead to a rise in demand for Degaussing solutions because of security issues.
During the forecast period, there is expected to be a rise in the use of degaussing devices for technological research on high-temperature superconducting materials, multi-influence range, and onboard aerial ranging. In the upcoming years, the global degaussing system market is likely to present enormous opportunities for players due to the growing demand for degaussing systems in maritime exercises like assessing naval tactics, computer-based networked war simulation, and validating tactical mathematical models.
The global market is expected to grow in coming years owing to the increasing use of degaussing systems in naval warfare due to their logistical and technical support, including magnetic ranging, magnetic signature management, integration assistance, demagnetization treatment and system calibration, and integrated logistics. The global degaussing system market is anticipated to grow as degaussing systems are being installed in new and existing warships to minimize or eliminate the magnetic field of the vessels.
Additionally, the market for degaussing systems is positively impacted by the growth of the defense industry, the fleet of naval vessels, and the increase in military spending.
Also, the degaussing system’s introduction of advanced technologies has given market participants additional lucrative opportunities. Increased government spending on military and defense, increased importance of degaussing systems in naval combat, and increased R&D for new technology are anticipated to propel market expansion.
Degaussing Market Report Highlights
- Medium Vessel segment is anticipated to grow at a higher growth rate owing to the increasing prevalence of secure and cost-effective solution for the disposal of electronic equipment
- Degaussing solutions is projected to have a higher growth due to the increasing security concerns among the people, increasing awareness, increasing awareness for data recovery and data privacy,
- The OEM segment is projected to witness significant growth owing to the increasing demand for ships around the world.
- The global players include Wartsila, Larsen & Turbo Limited, Ultra Electronics Holdings plc, L3Harris Technologies, and American Superconductor Corporation.
Degaussing System Market Dynamics
Drivers and Opportunities
- Increasing importance of the system in naval warfare
- Technological advancement
Restraints and Challenges
Porter’s Five Forces Analysis
PESTEL Analysis
Degaussing System Market End User Trends
Value Chain Analysis
COVID-19 Impact Analysis
Company Profiles
- Wartsila
- Larsen & Turbo Limited
- Ultra Electronics Holdings
- L3Harris Technologies
- American Superconductor Corp
Scope of the Report
Degaussing System, Vessel Type Outlook (Revenue – USD Million, 2019 – 2032)
- Small Vessels
- OPV
- MCMV/Minesweeper
- FAC (Fast Attack Craft)
- Medium Vessels
- Submarines
- Corvettes
- Destroyers
- Large Vessels
- Frigates
- Aircraft Carriers
- Amphibious Vessels
Degaussing System, Solution Outlook (Revenue – USD Million, 2019 – 2032)
- Ranging
- Fixed
- Onboard
- Transmitted Data Buoys
- Magnetometers
- Monitors
- Software
- Coils
- Aerial Ranging Devices
- Degaussing
- Products
- Hardware
- Degaussing Coil Units
- Magnetometers
- Degaussing Control Units
- Bipolar Amplifiers
- DG Generators
- Conductors
- Course Monitor Units
- Compass Compensating Equipment
- Software
- Services
- Deperming
Degaussing System, End User Outlook (Revenue – USD Million, 2019 – 2032)
- OEM
- After Market
- Services
Degaussing System, Regional Outlook (Revenue – USD Million, 2019 – 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
For more information about this report visit https://www.researchandmarkets.com/r/oecu3b
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