The global degaussing system market size was valued at USD 0.90 Billion in 2023. The market is projected to grow from USD 0.93 Billion in 2024 to USD 1.46 Billion by 2032, exhibiting a CAGR of 5.7% during the forecast period.

The degaussing systems are used to protect naval platforms by decreasing magnetic signatures significantly, making them vulnerable to detection and attack. These systems detect magnetic anomalies caused by ferromagnetic materials in ships and submarines. The increasing threat of naval mines is estimated to drive the market growth during the forecast period.

Fortune Business Insights™ mentioned this in a report titled, “Degaussing System Market, 2024-2032.”

List of Key Players Present in the Report:

• Wärtsilä Corporation (Finland)
• Larsen & Turbo Limited (India)
• Ultra Electronics Holdings plc (U.K.)
• L3 Harris Technologies, Inc. (U.S.)
• American Superconductor Corporation (U.S.)
• Polyamp AB (Sweden)
• Raytheon Technologies Corporation (U.S.)
• Groupe Gorgé (France)
• STL Systems AG (Switzerland)
• Hensoldt AG (Germany)

Information Source:

https://www.fortunebusinessinsights.com/degaussing-system-market-108153

Segments:

Rising Demand for Service and Maintenance to Aid Degaussing Coils Segment Growth