Degaussing System Market

Degaussing system is used to reduce or eliminate unwanted magnetic field which is stored in computer, hard drives, cassettes and cartridge tapes, diskettes, or reels. When it is visible to the powerful magnetic field of degausser, the magnetic data of hard disk or tape is either neutralizes or gets erased. Moreover, degaussing systems are installed in existing and new warships to reduce the magnetic signature of vessel. Furthermore, a steel-hulled ship refers to a huge floating magnet surrounded by a large magnetic field. When the ship travels through the water, the magnetic field around the ship also moves and adds or subtracts from the magnetic field of the Earth. Due to this distortion effect on the magnetic field of the Earth, the ship may turn as trigger device for the magnetic sensitive ordnance. In addition, degaussing ship installation comprises of fitting degaussing coil, a degaussing control unit (DCU) for controlling and monitoring the coil current, and compass compensating components to avoid the disruption of magnetic compasses by the degaussing coil’s magnetic field.

COVID-19 Impact Analysis: 

Due to COVID-19 pandemic government across the all the major countries have announced lockdown leading to various business shutdowns. This has led to disruption in manufacturing of defense equipment. Moreover, due to economic slowdown and more focus on health budget many countries have reduced their defense budget thus affecting the demand for degaussing system. Furthermore, due lockdown there was unavailability of raw materials required for manufacturing of degaussing system. In addition, due to social distancing & travelling restriction norms there was unavailability of labour required for production of degaussing system. Defense is an evolving sector which had a slight setback due to the pandemic, but it is expected to recover post pandemic and drive growth of degaussing system market.

Top Impacting Factors 

• Rise in importance of degaussing systems in naval warfare, rise in government investment in military & defense, and rise in R&D for new technology is expected to drive growth of the market.
• However, rise in use of composite material in warship and high cost of retrofit, installation, & calibration services can hamper growth the market. 
• Moreover, rise in technological advancement in degaussing equipment, rise in maritime warfare exercise, and rise in demand for safety & security of the equipment can act as an opportunity for growth of the market.

Market Trends

Rise in importance of degaussing systems in naval warfare

The navy ships are equipped with various electronic systems which are sensitive to magnetic field and might malfunction due presence of magnetic field. Thus, to protect these systems with uninterrupted functioning has increased the importance of degaussing system submersible vehicle. However, it provides new opportunities for the naval architect for designing the advance degaussing systems. Moreover, increase in warfare threat will help to enhance the market growth. For instance, in 2019 global energy solutions provider AMSC entered into a delivery contract with the U.S. Navy to supply ship protection degaussing system for USS Fort Lauderdale. Furthermore, in 2019, Huntington Ingalls Industries selected AMSC to deliver degaussing system for San Antonio-class ship. In addition, in 2017, the ECA Group received a contract worth USD 7.9 million from an unnamed Asian military to supply degaussing systems and magnetic ranging systems. Therefore, the demand of degaussing system in naval warfare is expected to drive growth of degaussing system market.

Key Benefits of the Report:

• This study presents the analytical depiction of the degaussing system market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the degaussing system market.
• The current market is quantitatively analyzed to highlight degaussing system market growth scenario.
• The report provides detailed degaussing system market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the degaussing system market research report:

• Which are the leading market players active in the degaussing system market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the degaussing system market?
• What are the projections for the future that would help in taking further strategic steps? 

 Degaussing System Market Report Highlights