How big is the Degaussing Systems Market?

The Degaussing Systems Market size is expected to reach USD 794.36 million in 2024 and grow at a CAGR of 3.71% to reach USD 953.04 million by 2029. Read More

What is the current Degaussing Systems Market size?

In 2024, the Degaussing Systems Market size is expected to reach USD 794.36 million. Read More

Who are the key players in Degaussing Systems Market?

ECA Group, Polyamp AB, American Superconductor Corporation, Ultra Electronics Holdings Limited and L3Harris Technologies, Inc. are the major companies operating in the Degaussing Systems Market. Read More

Which is the fastest growing region in Degaussing Systems Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Degaussing Systems Market?

In 2024, the North America accounts for the largest market share in Degaussing Systems Market. Read More

What years does this Degaussing Systems Market cover, and what was the market size in 2023?

In 2023, the Degaussing Systems Market size was estimated at USD 764.89 million. The report covers the Degaussing Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Degaussing Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Degaussing Systems Market - Forecast, Share & Size

Degaussing Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Degaussing Systems Market is segmented by vessel type (submarines, frigates, corvettes, aircraft carriers, destroyers, and other vessel types) and geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The market sizing and forecasts for all the above segments have been provided in value (USD).

Degaussing Systems Industry Overview

The degaussing systems market is semi-consolidated, and the prominent players in the degaussing systems market are L3Harris Technologies Inc., ECA Group, Ultra Electronics Holdings Limited, Polyamp AB, and American Superconductor Corporation. L3Harris Technologies, Inc. provides various designs and configurations of degaussing systems to the German Navy, Thai Navy, Korean Navy, Spanish Navy, Turkish Navy, Portuguese Navy, and Indian Navy, among others.

With a competitive market scenario, companies are investing in the development of new degaussing methods that will replace the existing and conventional degaussing systems. For instance, to capture new market opportunities, American Superconductor Corporation was the first to introduce high-temperature superconductor (HTS) degaussing cable. These HTS cables are proven to reduce 20% of the weight of cables, 40% of installation costs, and utilize lower operating voltages. With the introduction of such products into the market, the companies can strengthen their expansion plans with strong cash flows in the future.