Degaussing System Market size is projected to be valued $XX Billion by 2025; with a CAGR of XX% from 2017 to 2025. Degaussing is the procedure of reducing or eradicating a remnant magnetic turf. Due to magnetic hysteresis, it is generally impossible to reduce a magnetic turf completely to zero, so degaussing typically induces a very small "known" field referred to as bias. Degaussing was originally applied to reduce ships' magnetic signatures during the time of World War II. Degaussing is also used to reduce magnetic turfs in cathode ray tube monitors and to abolish data held on magnetic storage.
Elements such as growing importance of degaussing system in naval warfare, technological advancement in degaussing equipment, and rising defense budgets are driving the degaussing system market. However, use of composite materials in warships, high cost of retrofit, installation, calibration services and lack of skilled labors are expected to restrain the growth of the degaussing system market. Furthermore, the increase in defense spending andmaritime warfare exercises have propelled the procurement of degaussing systems globally, which, in turn, is anticipated to provide lucrative opportunities to the degaussing system market.
The degaussing system market is segmented on the basis of solution, end user, vessel type, and geography. Based on vessel type, the degaussing system market has been segmented into small, medium and large. On the basis of end user, the market has been segmented into OEM, services and aftermarket. Based on solution, the degaussing system market has been bifurcated into ranging, degaussing, and deperming.
By geography, the degaussing system market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The U.S. and Canada are countries under North America wherein Europe covers U.K, Germany, France, and others. Asia-Pacific covers China, India, Japan, Taiwan, and others. RoW covers South America, Middle East and Africa.
Major companies operating in the degaussing system market are L&T, Polyamp, ECA, Ultra Electronic, IfenSpA, DayatechMerinand AMSC (US), STL System AG, among others.
The key takeaways from the report
Scope of Degaussing System Market
End User Segments
Vessel Type Segments