Degaussing System Market worth 981.2 Million USD by 2023 New York, NY, Jan-14, 2020 / (Aerospace NEWS)-According to the new market research report on "Degaussing System Market by Solution (Degaussing, Ranging, Deperming), End User (OEM, Services, Aftermarket), Vessel Type (MCMV, OPV, FAC, Submarines,
Frigates,
Corvettes,
Destroyers,
Aircraft
Carriers,
Amphibious), and Region - Global Forecast
to
2023",
published
by
MarketsandMarkets™, the 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. Browse 93 market data Tables and 38 Figures spread through 138 Pages and in-depth TOC on "Degaussing System Market - Global Forecast to 2023"
Based on end user, the OEM segment is projected to grow at the highest CAGR during the forecast period. Based on end user, the OEM segment of the degaussing system market is projected to grow at the highest CAGR from 2018 to 2023. This growth can be attributed to the rise in the delivery of new ships worldwide.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=212277118 Based on vessel type, the submarines segment is estimated to lead the degaussing system market in 2018. Based on vessel type, the submarines segment is estimated to lead the degaussing system market in 2018. The growth of the submarines segment can be attributed to the need to protect submarines from enemy mines placed underwater by carrying out degaussing activities to completely demagnetize their magnetic signatures.