Magnetometer Market Segmentation: By Type and Region 2032
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
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
Rising Integration of Magnetometers in UAVs and Autonomous Systems to Drive Market Growth
The increasing deployment of UAVs and autonomous systems across defense and commercial sectors is significantly fueling the demand for magnetometers. These sensors play a vital role in navigation by detecting Earth’s magnetic field, especially in GPS-denied or challenging environments. Their expanding use in aerospace applications—such as satellite positioning—and in defense for magnetic anomaly detection is further propelling market growth.
Market Restraints
Interference and Calibration Issues May Impede Market Expansion
Magnetometers are susceptible to magnetic interference from surrounding metallic objects and electronic equipment, which can compromise their accuracy and reliability. Moreover, these sensors often require frequent calibration and ongoing maintenance to ensure optimal performance. These technical challenges can increase operational complexity and costs, potentially limiting broader adoption in high-stakes sectors like aerospace and defense.
Key Industry Developments:
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 constellation by maintaining orientation and enhancing signal reliability and solar energy absorption.