This new report from Stratview Research analyses the Degaussing System Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Degaussing System Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Degaussing System Market is no different. Derived from the previous market scenario, the Degaussing System Market is likely to witness an impressive CAGR of 4.2% during 2020-25 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
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Market Share Analysis
Degaussing System Market Share: By Vessel Type
Based on the vessel type, the market has been segmented as small vessels, medium vessels, and large vessels. The medium vessel segment is expected to lead the market during the forecast period. Growing need to protect submarines from enemy mines placed underwater by carrying out degaussing activities are the major factors behind the dominance of the medium vessel segment.
Degaussing System Market Share: By Solution Type
Based on the solution type, the market has been segmented as ranging, degaussing, and deperming. The degaussing solution segment is estimated to lead the market during the forecast period. The adoption of degaussing systems in naval warfare to protect ships from enemy mines drives the growth of this segment.
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Degaussing System Market Share: By End-User Type
Based on the end-user type, the degaussing system market is segmented as original equipment manufacturer, aftermarket, and services. It is estimated that the OEM segment will depict the highest growth during the forecast period, owing to the increase in the delivery of new ships across the globe.
Degaussing System Market Share: By Region
In terms of regions, North America is expected to register the highest growth during the forecast period. The rise in defense budgets and the need to safeguard vessels from the enemy are the drivers of the degaussing system market in the region. Asia-Pacific is the largest market for degaussing system and is expected to retain its position during the forecast period. Territorial dispute in the South China Sea has led to the increase in obtaining of advanced degaussing system in the Asia-Pacific region.
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