Degaussing Systems Market Size (2024 - 2029)

Degaussing Systems Market Analysis

The Degaussing Systems Market size is estimated at USD 794.36 million in 2024, and is expected to reach USD 953.04 million by 2029, growing at a CAGR of 3.71% during the forecast period (2024-2029).

There is a need for effective measures for magnetic signature control of the naval vessels for protection against sea mines and torpedoes, which ships' magnetic signatures can trigger. This requirement for suppressing a magnetic signature, fueled by a growing naval vessel fleet across the world, is generating demand for new degaussing systems onboard naval vessels. 

The development of advanced degaussing systems with new materials, like superconductors, which reduce the weight of the vessel and energy consumption of the degaussing equipment, is anticipated to propel the growth of the degaussing systems market in the future. 

However, the high cost of installation and retrofit and the use of fiber composite materials in warships can hinder the growth of the market in the future.

Degaussing Systems Industry Segmentation

Degaussing is the method of diminishing or reducing a redundant magnetic field induced in the ship due to the earth's magnetic field. The market study includes all the equipment required for degaussing of the ship, like degaussing systems, monitoring equipment to indicate the magnetic field, and control systems to control the current flowing through the conductors to demagnetize the ship.

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