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