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Degaussing Systems prevent generation of magnetic disturbances which assist in reducing the ship’s effect on earth’s magnetic field. Factors such as demand degaussing systems in naval warfare and development of advanced degaussing systems are bolstering the market growth.Factors such as growing demand degaussing systems in naval warfare and development of advanced degaussing systems are bolstering the market growth. Additionally, factors such as increasing military expenditure by developed economies is also bolstering the market growth. However, unavailability of skilled professionals and high costs associated with installation and calibration services are expected to hamper the market growth.
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Research Methodology:
The market numbers and forecast derived were the outcome of our disciplined research methodology which includes secondary research, primary interviews, followed by data triangulation and validation from our in-house data repository and statistical modeling tools.
Key Players:
The key players in the global degaussing system market are L3 Technologies, Inc. (US), American Superconductor (US), Polyamp AB (Sweden), LARSEN & TOUBRO LIMITED (India), Wärtsilä (Finland), Ultra Electronics (UK), Groupe Gorgé (France), IFEN SpA (Spain), STL Systems AG (Switzerland) and Surma Ltd (Finland).
Intended Audience:
• Degaussing Systems Manufactures
• Naval Ship Manufactures
• Recreational Ship Manufacturers
• Component Providers
• Defense Organizations
• Research Institutes
• Regulatory Bodies
Regional Analysis:
North America is estimated to account for the largest share during the review period. Presence of prominent players such as L3 Technologies, Inc., and American Superconductor among others is driving the market growth. However, Asia Pacific is expected to grow at the fastest CAGR over the forecast period owing to factors such as increasing defense expenditure by developing economies such as China and India. Additionally, technological advancements and growing demand for advanced degaussing systems are driving the market growth over the forecast period.
Segmentation:
The global degaussing system market has been segmented based on solution, vessel type, end user and region. On the basis of solution, the degaussing system market is divided into degaussing, ranging, and deperming. In 2017, the degaussing segment dominated the global market as they offer enhanced signature control, magnetic maps, and assist in fault managements. On the basis of vessel type, the market has been segmented into small vessel, medium vessel, and large vessel. The medium vessel segment is anticipated to grow at the fast CAGR over the forecast period owing to increasing investments made by governments of various countries in submarines and destroyers. On the basis of end user, the market has been segmented into OEM, aftermarket and services. The OEM segment dominated the market in 2017. Factors such as advanced degaussing systems with functionalities such as sensor measurements, automatic control, and LED status indicators among others provided by OEMs is driving the market growth.
Report Key Insights:
•Market Sizing, Forecast and Analysis: Detailed coverage on market
segment and its sub segments
•Regional / Country Trend and Forecast: Detailed analysis on North America, Asia Pacific, Europe, Middle East & Africa, and Latin America, along with key countries in each of the regions
•Market dynamics intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain & value chain analysis
•Technology Trend, Regulatory Landscape, and Patent Analysis Outlook
•Competitive Intelligence: Market share analysis, financial analysis,
product benchmarking, strategic developments including JVs, Product Launch, and M&A
•Regional attractiveness and related growth opportunities
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