Market Size of Degaussing Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 794.36 Million |
| Market Size (2029) | USD 953.04 Million |
| CAGR (2024 - 2029) | 3.71 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
