Degaussing System Market Forecasts to 2028

The Global Degaussing System Market is accounted for $1,184.79 million in 2020 and is expected to reach $1,877.00 million by 2028 growing at a CAGR of 5.9% during the forecast period. Growing demand for naval warfare and technological advancements in degaussing equipment are driving the market growth. However, unavailability of skilled professionals is hampering the growth of the market. Some of the key players profiled in the Degaussing System Market include L3 Technologies, Inc, American Superconductor, Ultra Electronic, Surma LTD, Polyamp, Dayatech Meri, Larsen & Turbo Limited, STL Systems AG, Ifen S.P.A., ECA Group, Dayatech Merin Sdn. BHD and Wartsila Corporation.

Powers Covered:• Static Power• Rotating Power   

Types Covered:• Shipborne Degaussing System• External Degaussing System

Vessel Types Covered:• Small Vessels (< 100 M)• Medium Vessels (100-200 M)• Large Vessels (>200 M)

Solutions Covered:• Deperming• Ranging• Degaussing   

End Users Covered:• Aftermarket• Services• Original Equipment Manufacturer (OEM)   

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The Global Degaussing System Market is majorly driven by growing demand for naval warfare and technological advancements in degaussing equipment.The degaussing segment is growing at a highest CAGR as degaussing solutions offer various advantages such as enhanced signature control; assist in fault management, and magnetic maps. The degaussing segment is growing at a highest CAGR as degaussing solutions offer various advantages such as enhanced signature control; assist in fault management, and magnetic maps. Asia Pacific dominated with a significant market share due to the factors such as increasing defense spending on the modernization of defense equipment to strengthen the protection of naval vessels and the need to modernize naval fleets has contributed to the integration and development of degaussing systems in Asia Pacific countries. North America market is growing at a highest CAGR due to the rise in defense budgets and the need to safeguard vessels from the enemy contributes importantly in sustaining the market growth of North America.

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