Dynamic Positioning Systems Market Forecasts to 2028 – Global Analysis By Type (Conventional, Next-generation), End User (Aftermarket, Original Equipment Manufacturer (OEM)) and By Geography
According to Stratistics MRC, the Global Dynamic Positioning Systems Market is accounted for $5.64 billion in 2020 and is expected to reach $13.75 billion by 2028 growing at a CAGR of 11.8% during the forecast period. High growth rate of the offshore shipping industry and increasing demand for dynamic positioning system across the globe, technological improvements in monitoring are the major factors propelling the market growth. However, scarcity of reliable communication & complexity in system and high implementation cost of system are hampering the market growth.
Dynamic positioning system is the system that is controlled by the computer to maintain automatically the position of a vessel. It uses options such as power systems, thruster systems, DPS control systems, and sensors for the balancing and heading of the vessel. Vessels installed with dynamic positioning systems have ability to operate with reliability, positioning accuracy, and safety. Dynamic positioning system includes position reference sensors, combined with motion sensors, wind sensors, and gyrocompasses which provide information to the computer system about the position, magnitude and direction of environment forces in order to maintain vessels position and balance.
Based on type, the next-generation segment is estimated to have a lucrative growth due to increasing inclination and developments in the autonomous vessels. There are countries in many regions who are working on project to bring autonomous vessels into the commercial market. The dynamic positioning systems are essential for autonomous vessels because of the minimalistic human intervention which gives rise to higher chances of error that could lead to accidents. Owing to this, the ship owners and OEM manufacturers are working on next generation dynamic positioning system for autonomous vessels. Therefore, this will be the major factor to drive growth of this segment.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the growing investments in offshore shipping industry and rising recreational water activities in New Zealand. The growth of the shipbuilding industry in Asia Pacific is one of the most significant factors contributing to the demand for ships with increasing seaborne trade in the region.
Some of the key players profiled in the Dynamic Positioning Systems Market include AB Volvo Penta, ABB Group, Comex, General Electric, Kongsberg Gruppen ASA, L-3 Communications Holdings, Inc, Marine Technologies LLC, Mitsui Energing & Shipbuilding, Moxa Inc, Navis Engineering, NORR Systems, Norr Systems Pte Ltd, Praxis Automation & Technology, Reyga, Rolls Royce PLC, Sonardyne, Twin Disc, and Wartsila Oyj Abp.
Reference Systems Covered:
• Disparity Global Positioning System
• Hydro Acoustic Position Reference
• Laser-Based Systems
• Taut Wire
Fit Types Covered:
• Line Fit
• Retro Fit
Equipment Types Covered:
• Class 1
• Class 2
• Class 3
• Dynamic Positioning (DP) Control Systems
• Environmental & Motion Sensors
• Operator Control Stations
• Position Reference and Tracking System
• Power Systems, Motors, and Drives
• Thruster System
• Passenger Vessels
• Platform Supply Vessel/Offshore Support Vessels
• Naval Vessels and Operations
• Merchant Vessel
End Users Covered:
• Original Equipment Manufacturer (OEM)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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