Dublin, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The "Degaussing System Market by Vessel Type (Small Vessel, Medium Vessel, Large Vessel), Solution (Ranging, Degaussing, Deperming), End User (OEM, Aftermarket, & Services) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The degaussing systems market is projected to grow from USD 619 Million in 2022 to USD 740 Million by 2027, at a CAGR of 3.6% from 2022 to 2027. Rising technological advancement in degaussing system is expected to drive the market growth during the forecast period.
The application of degaussing systems started during World War II to protect naval vessels from magnetic mines and torpedoes. Degaussing equipment has since been used to retreat the magnetic signatures of vessels to make them invisible to mines.
These systems comprise coil loops installed onboard a vessel; when energized with proper currents, these loops generate magnetic fields in a direction (longitude, vertical, and athwartship) opposite to the magnetic fields of the vessel to minimize effective magnetic signature. Degaussing systems reduce a naval ship's magnetic signature, making it difficult for mines to detect and damage the ship. Traditionally made of heavy copper wire, these systems are required for all naval combat ships.
High temperature superconductor (HTS) degaussing systems are lightweight and compact in design. HTS degaussing coils are estimated to enable a 50-80% reduction in the total weight of degaussing systems, offering significant potential for fuel savings or adding different payloads. Installation and calibration services are expensive for copper coils compared to HTS coils. In HTS degaussing systems, the number of coil turns is reduced by 20% than copper coils. Additionally, copper coils consume more power than HTS degaussing coils.
American Superconductor Corporation (US), Larsen & Turbo Limited (India), and ECA Group (France) are a few of the key manufacturers of HTS coils. In May 2019, American Superconductor Corporation, a global energy solutions provider serving wind and power grid industry leaders, received a contract from the Ingalls Shipbuilding division of Huntington Ingalls Industries (HII) (US) to deliver an HTS-based ship protection system for installation on the San Antonio class of amphibious transport dock ship, LPD 30. Technological advances in degaussing equipment will likely increase their future demand.
Based on solution, the ranging solution is anticipated to grow at the highest CAGR during the forecast period
Based on solution, the degaussing systems market has been segmented into ranging, degaussing and determining. The ranging segment is projected to grow at the highest CAGR during the forecast period. The ranging solution further segmented into onboard and fixed. Fixed ranging degaussing solutions make use of submerged magnetic probes and evaluation equipment to measure the magnetic interference field of naval vessels at specific water depths. These solutions are used to degauss naval vessels in the overrun range and stationery range.
An overrun range is used for ranging of ferromagnetic vessels and submarines. Fixed ranging degaussing solutions help in the separation of the permanent magnetization of naval vessels from the induced magnetization. These solutions also help determine the magnetic range of naval vessels. A stationary range is mainly used for ranging of non-magnetic vessels, such as mine countermeasure vessels.
The Asia Pacific region dominated the market with largest share in 2022
The degaussing systems market in Asia Pacific registered the largest share in 2022. China, India, Japan, South Korea, and North Korea are considered for market analysis in the Asia Pacific region. Among these countries, the defense budget of China is the second-highest in the world, preceded by the US. China is increasing its defense spending for the modernization of its navy and warfare capabilities to uphold territorial integrity and national security. This, in turn, is expected to contribute to the increased production and procurement of advanced naval equipment, thereby driving the demand for degaussing systems in China. Moreover, the presence of key shipbuilding companies, such as the China Shipbuilding Industry, Jiangnan Shipyard, Dalian Shipbuilding Industry, and COMEC, has supported to boost degaussing system market growth in China.
Market Dynamics
Drivers
- Increasing Importance of Degaussing Systems in Naval Warfare
- Technological Advancements in Degaussing Equipment to Protect Naval Vessels
- Increasing Defense Budget to Procure Advanced Warships
Restraints
- Use of Composite Material in Warships to Restrain Market Growth
Opportunities
- Increase in Maritime Warfare Exercises to Protect Naval Vessels from Sea Mines
Challenges
- High Cost of Retrofit, Installation, and Calibration Services to Affect Market Growth
- Lack of Skilled Professionals to Pose Challenges for End-users
- Limited Number of Ranging and Deperming Stations to Affect Deperming Services
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $619 million |
| Forecasted Market Value (USD) by 2027 | $740 million |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
6.1 Introduction
6.2 Power Supply Architecture
6.2.1 Fully Distributed Degaussing System
6.2.2 Semi-Distributed Degaussing System
6.2.3 Centralized Degaussing System
6.3 Control Mode
6.3.1 Current Controller Magnetometer
6.4 Technological Trends
6.4.1 Copper Coils
6.4.2 Hts Material
6.4.3 Onboard Aerial Ranging Device
6.4.4 Multi-Influence Ranging System
6.5 Strategic Benchmarking
6.6 Innovations and Patent Registrations
6.7 Key Conferences and Events, 2023
7 Degaussing System Market, by Vessel Type
8 Degaussing System Market, by Solution
9 Degaussing System Market, by End-user
10 Degaussing System Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- American Superconductor Corporation
- DA-Group
- Dayatech Merin Sdn. Bhd.
- Eca Group
- Ifen S.P.A.
- L3Harris Technologies, Inc.
- Larsen & Toubro Limited
- Polyamp Ab
- STL Systems Ag
- Ultra Electronics Holdings plc
- Wartsila
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