Global Dynamic Positioning Systems Market, By Type (Conventional, Next-Generation), Equipment Type (Class 1, Class 2, Class 3), Sub-Systems (Position Reference and Tracking System, Power systems, Motors, and Drives, DP Control Systems), Application (Commercial, Military), End User (OEM, Retrofit), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Dynamic Positioning Systems Market Analysis and Insights
Dynamic positioning systems market size is valued at USD 2219.31 million by 2028 and is expected to grow at a compound annual growth rate of 3.60% over the forecast period of 2021 to 2028. Data Bridge Market Research report on dynamic positioning systems market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
The dynamic positioning systems are the type of computer driven system which mechanically maintain a vessel’s heading and position with the help of its own propellers and thrusters. It enables a vessel to involuntarily maintain its balance.
The dynamic positioning systems market has a huge potential and is expected grow over the forecast period of 2021 to 2028, owing to the rise in the seaborne trade across the globe. In addition, the rapid technological improvements in monitoring and dynamic positioning systems and rise in the operations in the offshore shipping industry are also largely influencing the growth of the dynamic positioning systems market. Also the increase in the deep-sea excavations and the rise in the maritime trade another driver anticipated to flourish the dynamic positioning systems market growth. Additionally, the increase in number of dynamic position vessels and rise in the offshore shipping industry are also expected to boost the growth of the dynamic positioning systems market in the above mentioned forecast period.
However, the market of dynamic positioning systems though has certain limitations which are expected to obstruct the potential growth of the market such as the complicated system and high cost of initial installation and high maintenance costs, whereas the complex systems is difficult to be operated by unskilled operators which can challenge the growth of the dynamic positioning systems market in the above mentioned forecast period.
- In addition, the presence of laser-based dynamic positioning systems, high growth in the autonomous shipping industry and high investments in the naval operations are projected to offer various growth opportunities for the dynamic positioning systems market in the forecast period of 2021 to 2028.
This dynamic positioning systems market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on dynamic positioning systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Dynamic Positioning Systems Market Scope and Market Size
Dynamic positioning systems market is segmented on the basis of type, equipment type, sub-systems, application and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Based on type, the dynamic positioning systems market is segmented into conventional and next-generation.
- On the basis of equipment type, the dynamic positioning systems market is segmented into class 1, class 2 and class 3.
- Based on sub-systems, the dynamic positioning systems market is segmented into position reference and tracking system, power systems, motors, and drives and DP control systems.
The application segment of the dynamic positioning systems market is segmented into commercial and military. Commercial has further been segmented into bulk carriers, gas tankers, tankers, cruise, passenger ferries, dry cargo ships, research vessels, dredgers, motorboats and others. Military has further been segmented into frigates, corvettes, destroyers, amphibious ships, minesweepers and others.
Based on end user, the dynamic positioning systems market is segmented into OEM and retrofit.
Dynamic Positioning Systems Market Country Level Analysis
Dynamic positioning systems market is analyzed and market size, volume information is provided by country, type, equipment type, sub-systems, application and end user as referenced above.
The countries covered in the dynamic positioning systems market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the dynamic positioning systems market because of the high investments in the naval operations and increase in the offshore shipping industry. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the increase in the deep-sea excavations and the rise in the maritime trade.
The country section of the dynamic positioning systems market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Dynamic Positioning Systems Market Share Analysis
Dynamic positioning systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to dynamic positioning systems market.
The major players covered in the dynamic positioning systems market report are Kongsberg Maritime, ABB, General Electric, Wärtsilä, Rolls-Royce plc, AB Volvo, Twin Disc, Incorporated, L3Harris Technologies, Inc., Navis Engineering, Royal IHC, Marine Technologies, LLC, Praxis Automation Technology B.V., Reygar Ltd, SONARDYNE, Alphatron Marine B.V., Undheim Systems AS, RH Marine, Raytheon Anschütz, XENTA Systems S.r.l., and VERIPOS and among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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