The degaussing system market is expected to grow with major companies like Wartsila and L3Harris Technologies.

From GlobeNewswire: 2024-06-05 08:00:00

The degaussing system market is expected to grow from USD 619 Million in 2022 to USD 740 Million by 2027, with a CAGR of 3.6%. This system neutralizes a ship’s magnetic field, enhancing security by reducing the risk of being targeted. Modern warships come equipped with degaussing systems to ensure safety for personnel and ships. Major companies like Wartsila, Larsen & Turbo Limited, and Ultra Electronics Holdings plc are leading players in this market, using strategies like contracts, acquisitions, and new product launches to expand their presence. Larsen & Turbo Limited subsidiary L&T Electronics and Automation is a key supplier of electrical and automation solutions for Indian shipyards. Wartsila focuses on innovation and strategic investments to enhance its product portfolio, while Ultra Electronics Holdings plc caters to multiple markets, including aerospace and defense. L3Harris Technologies, Inc. is a major player, with a strong presence in the US market and a range of degaussing systems offered through its L3 Power & Propulsion Systems division.



Read more at GlobeNewswire: Leading Companies in the Degaussing System Market: Insights