Degaussing System Market Report Examines Latest Trend and Key Drivers Supporting Growth through 2030

Factors Driving the Market Growth:

- Increasing importance of degaussing system in naval warfare

It is anticipated that the global degaussing system industry will experience a notable development in the coming years. This is due to the increase in defense budgets, as well as the increasing significance of the degaussing scheme, particularly in naval warfare.

- Technological advancement in degaussing equipment

Advanced degaussing systems are being developed to boost market growth. The development of the market is driven by factors such as advanced degaussing technologies with functionalities such as sensor measurements, automatic control and status indicators for LEDs supplied by OEMs.

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Factors Restraining the Market Growth:

- Unavailability of skilled professionals

It is anticipated that unavailability of qualified professionals and high installation and calibration expenses will hamper market growth. Also, the restricted amount of deperming and range stations and the use of composite material in warships can hamper long-term market growth.

Market Segmentation 2019-2029:

The Degaussing System Market is segmented on Solution, End Use, Vessel type, and Regional basis.

Solution

- Degaussing

- Ranging

- Deperming

End User

- OEM

- Services

- Aftermarket

Vessel type

- MCMV

- OPV

- FAC

- Submarines

- Frigates

- Corvettes

- Destroyers

- Aircraft Carriers

- Amphibious

Regional Breakdown

Focused regional forecasts and analysis explore the future opportunities:

- North America

- Europe

- Asia-Pacific

- LAMEA

Competitive Analysis:

- Global degaussing system competitive environment is expected to be moderate over the period ranging 2019 - 2029 by virtue of limited manufacturers operating in this industry

- The market competition is expected to be on the basis of new product development and product pricing.

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Major Market Players:

L3 Technologies, Inc., American Superconductor, Polyamp AB, LARSEN & TOUBRO LIMITED, Wärtsilä, Ultra Electronics, Groupe Gorgé, IFEN SpA, STL Systems AG, and Surma Ltd.

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