The global demand for Marine Dynamic Positioning System Market is presumed to reach the market size of nearly USD 18.23 MN by 2028 from USD 7.49 MN in 2021 with a CAGR of 13.54% under the study period 2022 - 2028.
A marine dynamic positioning system is a computer-controlled system installed in ships to regulate the location of vessels in a water body. The positioning system comprises a GPS, which monitors the vessel's work. It keeps the vessel at a fixed position and replaces the need to utilize anchors in the vessel. A dynamic positioning system also includes position reference sensors, motion sensors, wind sensors, and gyrocompasses, which provide information to the computer system about the position, magnitude and direction of environment forces to maintain the vessel's position and balance. A dynamic positioning system is a comprehensive installation that includes the power system, thruster system, and dynamic positioning (DP) control system to position a vessel dynamically. DP is also used on diving support vessels, pipelay vessels, shuttle tankers, platform supply vessels etc.
Market Dynamics
The development in global seaborne trade, increase of dynamic position ships such as survey and research vessels, developments in offshore drilling technology, and the deployment of offshore drilling rigs patrol vessels are projected to create lucrative opportunities for this market. Another major factor driving the growth of the global marine dynamic positioning system market is the introduction of laser-based dynamic positioning systems. Moreover, the marine dynamic positioning system's advantages like it is quick and easy, easily avoids bad weather, improves safety, and being useful in ultra-deepwater driving the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of marine dynamic positioning system. The growth and trends of marine dynamic positioning system industry provide a holistic approach to this study.
Market Segmentation
This section of the marine dynamic positioning system market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Subsystem
- Control System
- Power System
- Thruster System
By Equipment Class
By Application
- Naval Vessels
- Offshore Vessels
- Others
By Sales Channel
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Marine Dynamic Positioning System market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Marine Dynamic Positioning System Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the marine dynamic positioning system market include ABB Ltd., AB Volvo, General Electric Company, Kongsberg Gruppen ASA, L3Harris Technologies, Inc., Marine Technologies, LLC, Navis Engineering Oy, Praxis Automation Technology B.V., Reygar Ltd., and Wartsila Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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