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Degaussing Systems Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 4986948
  • Report
  • February 2020
  • Region: Global
  • 95 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Dayatech Merin Sdn Bhd
  • ECA S.A.
  • IFEN SpA
  • L3Harris Technologies Inc
  • Larsen & Toubro Limited
  • Polyamp AB
  • MORE
The degaussing systems market is anticipated to grow at a CAGR of more than 2.5% during the forecast period.
  • There is a need for effective measures for magnetic signature control of the naval vessels for protection against the sea mines and torpedo, which can be triggered by ships magnetic signature. This requirement for suppressing magnetic signature fuelled by 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 are anticipated to propel the growth of degaussing systems market in the future.
Key Market Trends

Frigates Segment Recorded the Highest Market Share in 2019

The high lethality and low detection capabilities of the frigates are the major reasons for navies around the world to increasingly procure frigates. The replacement programs in various countries to replace the current aging fleet of combat ships with modern detection and weapon systems equipped frigates that have anti-ship, anti-submarine, and air-defense capabilities are propelling the demand for frigates. As of September 2019, there are 457 frigates in operations and about 107 frigates are on orders. Also, in the coming years, order for more than 100 frigates are anticipated to be placed to replace their aging fleet in various navies. During the forecast period, majority of the frigate procurement are planned in Europe followed by Asia-Pacific region. Additionally, the future frigate program of the United States will see deliveries of new frigates over the next decade. Due to the aforementioned reason, the market of frigates is anticipated to witness a steady growth during the forecast period.

Asia-Pacific Region is Expected to Generate the Highest Demand During the Forecast Period

The escalated maritime border tensions between the countries of the region has led to increase in their military spending. The countries, like Australia, India, China, and Indonesia among others are investing into modernisation of their fleet with advanced capabilities. As a part of these plans, the countries will develop, build, and procure new naval vessels during the forecast period. For instance, as a part of Horizon Two of Philippines Modernisation Program, the government has allocated USD 2.46 billion for the period 2018 - 2022. The country plans to procure atleast 25 vessels over the next five years. The navy will receive two frigates by end of 2020 and six offshore patrol vessels (OPV) by 2022. It is also in plans to procure submarines, multi-purpose attack craft, fast attack & interdiction craft – missile capable and corvettes in the coming years, which are expected to enter service in the coming decade. This modernisation of naval fleet is to strengthen the country’s capabilities amid the South China Sea tensions. Similarly, the other South-East Asian countries are also currently enhancing their naval capabilities, which is expected to propel the growth of degaussing equipment market.

Competitive Landscape

The prominent players in the degaussing systems market are L3Harris Technologies Inc, ECA S.A., Ultra Electronics Holdings plc, Polyamp AB, and American Superconductor Corporation. L3Harris Technologies Inc provided various designs and configurations of degaussing systems to German Navy, Thai Navy, Korean Navy, Spanish Navy, Turkish Navy, Portuguese Navy and Indian Navy among others. With highly competitive market scenario, companies are investing into the development of new degaussing methods that will replace the existing and conventional degaussing systems. For instance, to capture new market opportunities, American Superconductor Corporation was the first to introduce High Temperature Superconductor (HTS) degaussing cable. These HTS cables are proved to reduce 20% of the weight of cables, 40% of installation costs, and utilize lower operating voltages. With introduction of such products into the market, the companies can strengthen their expansion plans with strong cash flows in the future.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format.
  • Report customization as per the client's requirements.
  • 3 months of analyst support.
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Dayatech Merin Sdn Bhd
  • ECA S.A.
  • IFEN SpA
  • L3Harris Technologies Inc
  • Larsen & Toubro Limited
  • Polyamp AB
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 Vessel Type
5.1.1 Submarines
5.1.2 Frigates
5.1.3 Corvettes
5.1.4 Aircraft Carrier
5.1.5 Destroyers
5.1.6 Other Vessel Types
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 France
5.2.2.4 Russia
5.2.2.5 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 South Korea
5.2.3.5 Rest of Asia-Pacific
5.2.4 Latin America
5.2.4.1 Brazil
5.2.4.2 Mexico
5.2.4.3 Rest of Latin America
5.2.5 Middle-East and Africa
5.2.5.1 United Arab Emirates
5.2.5.2 Saudi Arabia
5.2.5.3 Egypt
5.2.5.4 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 L3Harris Technologies Inc
6.2.2 Larsen & Toubro Limited
6.2.3 ECA S.A.
6.2.4 IFEN SpA
6.2.5 Ultra Electronics Holdings plc
6.2.6 Polyamp AB
6.2.7 Tecomar S.L.
6.2.8 American Superconductor Corporation
6.2.9 Dayatech Merin Sdn Bhd
6.2.10 Surma Ltd
6.2.11 Wärtsilä Corporation

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • L3Harris Technologies Inc
  • Larsen & Toubro Limited
  • ECA S.A.
  • IFEN SpA
  • Ultra Electronics Holdings plc
  • Polyamp AB
  • Tecomar S.L.
  • American Superconductor Corporation
  • Dayatech Merin Sdn Bhd
  • Surma Ltd
  • Wärtsilä Corporation
Note: Product cover images may vary from those shown
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