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Magnetometer Market Report

According to Fortune Business Insights, the global magnetometer market was valued at USD 3.64 billion in 2024 and is projected to grow to USD 7.75 billion by 2032, exhibiting a CAGR of 10.2% during the forecast period.

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Magnetometer Market Report

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  1. According to Fortune Business Insights, the global magnetometer market was valued at USD 3.64 billion in 2024 and is projected to grow to USD 7.75 billion by 2032, exhibiting a CAGR of 10.2% during the forecast period. The market is expected to reach USD 3.94 billion in 2025, driven by increasing adoption across industries such as aerospace, defense, automotive, and consumer electronics. North America dominated the market in 2024 with a 38.74% share, supported by strong defense investments and advancements in magnetic sensing technologies. Magnetometers are critical tools used to measure magnetic fields and are widely deployed in navigation systems, geophysical exploration, space missions, and industrial applications. The rising demand for precision navigation in drones, smartphones, and autonomous vehicles is significantly contributing to market growth. Additionally, ongoing innovation, sensor miniaturization, and growing integration of magnetometers in IoT devices are expected to further drive global market expansion. List of key magnetometer companies profiled: Honeywell International Inc. (U.S.) Geometrics, Inc. (U.S.) Billingsley Aerospace & Defense (U.S.) AlphaLab, Inc. (U.S.) Applied Physics Systems (U.S.) Metrolab Technology SA (Switzerland) Bartington Instruments Ltd. (U.K.) FOERSTER Holding GmbH (Germany) Lake Shore Cryotronics, Inc. (U.S.) Marine Magnetics Corp. (Canada) Information Source: https://www.fortunebusinessinsights.com/magnetometer-market-112875

  2. Segmentation: Magnetometer Market Space Segment to Grow Steadily with Satellite-Based Deployments in LEO and Scientific Missions By platform, the market is segmented into airborne, ground, maritime, and space. The space segment is expected to witness the fastest growth due to increasing launches of LEO (Low Earth Orbit) satellites, which rely on compact and high-precision magnetometers for navigation and attitude control systems. Aerospace & Defense to Emerge as Dominant End-User Amid Rising Investments in Geospatial Intelligence By end-user, the magnetometer market is categorized into aerospace & defense, consumer electronics, marine/naval, automotive, and others. The aerospace & defense segment held the largest share in 2024 due to extensive use in military aircraft, submarines, drones, and satellite missions requiring precise magnetic field detection. North America Leads Global Adoption, Backed by High Investments in Space and Defense Programs Regionally, the market is analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America held the largest share in 2024, bolstered by advanced infrastructure, key magnetometer manufacturers, and robust demand from defense and space agencies such as NASA and the U.S. Department of Defense. MARKET DYNAMICS Market Drivers Growing Use of Magnetometers in UAVs and Autonomous Systems to Boost Market Growth The rising adoption of UAVs and drones in defense and commercial sectors is driving demand for magnetometers. These devices are essential for navigation, especially in GPS- denied environments, by measuring Earth’s magnetic field. Their use in aerospace for satellite positioning and in defense for detecting magnetic anomalies is further accelerating market growth. Market Restraints Interference and Calibration Challenges to Hinder Market Growth Magnetometer performance can be affected by interference from nearby metals or electronic devices, leading to reduced accuracy. Additionally, they require regular calibration and maintenance, increasing operational complexity and costs. These issues may limit wider adoption, particularly in critical aerospace and defense applications. ??? ??????????? ???????????? ??????????? ??????? December 2024— MDA Space selected Honeywell to supply Attitude Control Systems and Magnetometer Unit components, including Reaction Wheel Assemblies and 3-axis Space Rate Sensors, for the MDA AURORA satellite line. These systems will support Telesat’s LEO

  3. constellation by maintaining orientation and enhancing signal reliability and solar energy absorption.

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