DUBLIN--(BUSINESS WIRE)--The "Degaussing System Market by Solution, End User, Vessel Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The degaussing system market is estimated to be USD 809.7 million in 2018 and is projected to reach USD 981.2 million by 2023, at a CAGR of 3.92% from 2018 to 2023.
Factors such as increasing importance of degaussing system in naval warfare, technological advancement in degaussing equipment, and increasing defense budgets are driving the degaussing system market.
Degaussing systems are installed in existing and new warships to reduce the magnetic signature of vessels. Thus, there has been an increasing demand for the installation of degaussing systems in existing and new naval fleets. In addition, the rise in defense spending has propelled the procurement of degaussing systems by countries worldwide, which, in turn, is expected to influence the growth of the degaussing system market.
Based on solution, the ranging solution segment is projected at the highest CAGR during the forecast period. The growth of the ranging solution segment can be attributed to the increased use of portable ranging devices that are inexpensive and easily available in the market.
- Increasing Importance of Degaussing Systems in Naval Warfare
- Technological Advancement in Degaussing Equipment
- Increasing Defense Budgets
- Use of Composite Materials in Warships
- Increase in Maritime Warfare Exercises
- High Cost of Retrofit, Installation, and Calibration Services
- Lack of Skilled Professionals
- Limited Number of Ranging and Deperming Stations
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Regional Analysis
7 Degaussing System Market, By Vessel Type
8 Degaussing System Market, By Solution
9 Degaussing System Market, By End User
10 Regional Analysis
11 Competitive Landscape
12 Company Profiles
- American Superconductor Corporation
- Dayatech Merin Sdn. BHD.
- ECA Group
- Ifen S.P.A.
- L3 Technologies
- Larsen & Turbo Limited
- Polyamp AB
- STL Systems AG
- Ultra Electronics Holdings PLC
- Wartsila Corporation
For more information about this report visit https://www.researchandmarkets.com/research/t3z84h/global_degaussing?w=4