Dynamic Positioning Systems Market Size, Global Forecast, Growth Drivers, Opportunities 2030

1. (/) Dynamic Positioning Systems Market RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML) Search Reports  HOME (/) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) HOME (/) ❯ TOP MARKET REPORTS (/TOP-MARKET-REPORTS.ASP)❯ DYNAMIC POSITIONING SYSTEMS MARKET GLOBAL TOP 2000 STRATEGIST RELY ON US FOR THEIR GROWTH STRATEGIES. KNOW MORE Dynamic Positioning Systems Market by Equipment type (Class 1, class 2, class 3), Application (Bulk Carrier, Gas Tanker, Ferries, Cruise, Amphibious, Destroyer, Frigate), End use (OEM, Retrofit), Type, Sub-system, and Region (2021-2026) (/Knowledgestore.asp#request_free_trial)  FREE BROCHURE (/pdfdownloadNew.asp?id=44881766)  FREE SAMPLE REPORT (/requestsampleNew.asp?id=44881766) Report Code: AS 3466May, 2021, by marketsandmarkets.com DESCRIPTION TABLE OF CONTENTS METHODOLOGY DOWNLOAD PDF (/PDFDOWNLOADNEW.ASP?ID=44881766) The Dynamic Positioning System Market is estimated to be USD 6.3 billion in 2021 and is projected to reach USD 10.5 billion by 2026, at a CAGR of 10.7% from 2021 to 2026. The growing seaborne trade and growing cargo shipping industry are among the major factors driving the dynamic positioning system market. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

2. (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) To know about the assumptions considered for the study, Request for Free Sample Report (https://www.marketsandmarkets.com/requestsampleNew.asp?id=44881766) COVID-19 impact on the Dynamic Positioning Systems Market Dynamic positioning system manufacturers are pushed to shut down production operations due to government- imposed lockdown to monitor the spread of COVID-19 worldwide. Ship and its component manufacturers are encountering operational problems due to supply chain disruption cause by the government restriction on transportation in the wake of COVID-19 pandemic. One of the major challenges faced by the shipping industry is the failure to maintain vessels which lead to operational failure. This results in delays and hindrances in the shipping industry due to irregular breakdowns. Travel restrictions due to the pandemic also was one of the major challenges for engineers in undertaking regular repairs. During the pandemic, key players such as ABB group (Switzerland), Wartsila (Finland), and General Electric Company (US) faced decline in revenue as compared to the previous fiscal year. These challenges are being resolved in order to improve the current scenario in the industry. The cost of shipping is high due to low demand as well as the low availability of vessels. This trend is expected to continue till the end of the pandemic. The shipping industry is expected to make efforts to overcome the challenges caused due to COVID-19 as countries are now focusing on maintaining supply chains to enable running businesses. Dynamic Positioning System Market Dynamics: Driver: Increase in seaborne trade across the globe The bulk cargo traded and transported through sea routes across the globe has increased over the years, as ships are economical as compared to other means of transportation. This, in turn, has led to the growth of global seaborne trade. For instance, as per the International Chamber of Shipping in 2019, 90% of the world’s trade is carried out through sea routes as the freight costs are competitive and ideal for the transport of heavy goods and goods in bulk. As per the publication of the United Nations Conference on Trade and Development (UNCTAD), (https://www.marketsandmarkets.com/Privacy-12.html). We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info X

3. the global seaborne trade reached approximately 12.8 billion tons in 2019 due to the rising global population, rising global gross domestic product (GDP), increasing disposable incomes, especially in Asian countries, and rising standards of living. Therefore, goods transport by sea is expected to drive the demand for shipbuilding, in turn, leading to the rise in demand for DPS. (/) Opportunity: Autonomous shipping industry HOME (/) ABOUT US (/ABOUTUS-8.HTML) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  CAREERS (/CAREER.ASP) The marine industry has also undertaken groundbreaking innovations and is looking forward to enabling implementation. Various players in the maritime industry have undertaken significant efforts in developing autonomous ships (https://www.marketsandmarkets.com/Market-Reports/autonomous-ships-market- 267183224.html). These projects are being developed to provide the scope of transporting cargo and passengers from one location to another without human intervention on navigable waters in future. Companies such as A. B. Volvo (Sweden) have been selected by Grovfjord Mek. Verksted (GMV) Shipyard (Norway) to produce a fleet of unmanned vessels for the commercial market. Challenge: Complex systems difficult to be operated by unskilled operators Dynamic positioning systems uses a computer controlled system which provides information about the effect of wind on the container and the position of the thrusters, which is not easy to operate for untrained personnel. DP systems are presently essential parts of operations in the offshore industry, and require specially trained and highly skilled operators in order to operate these systems. Operators play an important role as they are responsible for the smooth functioning of vessels installed with DP systems. Dynamic Positioning System Market Ecosystem Prominent companies providing dynamic positioning systems, private and small enterprises, distributors/suppliers/retailers, and end customers are the key stakeholders in the dynamic positioning market ecosystem. Investors, funders, academic researchers, distributors, service providers, and industries also serve as major influencers in the market. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

4. To know about the assumptions considered for the study, download the pdf brochure (https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=44881766) Next generation dynamic positioning system segment to register the highest CAGR during the forecast period (/) Based on type, the next generation segment is projected to witness the highest CAGR during the forecast period. This segment will majorly be driven by the rise and development in the autonomous vessels. Currently, there are countries in many regions who are working on project to bring autonomous vessels into the commercial market. The dynamic positioning systems is essential for autonomous vessels because of the minimalistic human intervention gives rise to higher chances of error that could lead to accidents. Hence, shipowners and OEM manufacturers are working on next generation dynamic positioning system for autonomous vessels. So, this will be the major factors to drive growth in this segment for the forecasted period. Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) Class 2 Dynamic Positioning segment to register the highest CAGR during the forecast period By equipment type, the class 2 dynamic positioning system segment is expected to witness the highest growth rate during the forecast period. Class 2 dynamic positioning system are used in various types of vessels such as commercial vessels like passenger ferries, cargo ships, dredgers and others are the types of vessels in which class 2 dynamic positioning system is used. The class 2 dynamic positioning system is redundant hence a single fault in the active system will not cause the dynamic positioning system to fail. Asia Pacific estimated to lead the dynamic positioning system market in 2020 The dynamic positioning system market is expected to witness substantial growth in Asia Pacific during the forecast period. 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. Increasing investments in offshore shipping industry and increasing recreational water activities in New Zealand are additional factors driving the growth of the dynamic positioning system market in Asia Pacific. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

5. (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) Key Market Players The key players in the dynamic positioning system market include Kongsberg Gruppen (Norway), ABB Group (Switzerland), General Electric Company (US), Wartsila (Finland), Rolls Royce PLC. (UK), A.B Volvo (Sweden), Twin Disc (US), L3 Harris (US), Navis Engineering (Finland), Royal IHC (Netherlands), Marine Technologies LLC (US), Praxis Automation Technology (Netherlands), Norr Systems Pte Ltd. (Singapore), Moxa Inc. (Taiwan), Reygar (UK), Comex (France), Sonardyne (UK), Alphatron Marine (Netherlands), Undheim Systems (Norway), Wartsila Guidance Marine (UK), Thrustmaster of Texas (US), Xenta Systems (Italy), RH Marine (Netherlands), Raytheon Anschutz (Germany), Japan Radio Company Ltd. (Japan) Get online access to the report on the World's First Market Intelligence Cloud  Easy to Download Historical Data & Forecast Numbers  Company Analysis Dashboard for high growth potential opportunities  Research Analyst Access for customization & queries  Competitor Analysis with Interactive dashboard  Latest News, Updates & Trend analysis REQUEST SAMPLE We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

6. (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) ()  Click on image to enlarge Scope of the Report Report Metric Details Estimated Market Size Projected Market Size Growth Rate Market Size Available for Years USD 6.3 Billion USD 10.5 Billion 10.7% 2017–2026 Base Year Considered 2020 Forecast Period 2021–2026 Forecast Units Value (USD Million) Segments Covered Equipment Type, Sub-systems, type, application, end use, and Region Geographies Covered North America, Asia Pacific, Europe, and Rest of the World We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

7. Companies Covered Kongsberg Gruppen (Norway), ABB Group (Switzerland), General Electric Company (US), Wartsila (Finland), Rolls Royce PLC. (UK), A.B Volvo (Sweden), Twin Disc (US), L3 Harris (US), Navis Engineering (Finland), Royal IHC (Netherlands), Marine Technologies LLC (US), Praxis Automation Technology (Netherlands), Norr Systems Pte Ltd. (Singapore), Moxa Inc. (Taiwan), Reygar (UK), Comex (France), Sonardyne (UK), Alphatron Marine (Netherlands), Undheim Systems (Norway), Wartsila Guidance Marine (UK), Thrustmaster of Texas (US), Xenta Systems (Italy), RH Marine (Netherlands), Raytheon Anschutz (Germany), Japan Radio Company Ltd. (Japan) (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) This research report categorizes the dynamic positioning system market based on Equipment type, Type of dynamic positioning system, sub-system, end use, application, and region Based on end use, the dynamic positioning system market has been segmented as follows: OEM Aftermarket Based on equipment type, the dynamic positioning system market has been segmented as follows: Class 1 Class 2 Class 3 Based on application, the dynamic positioning system market has been segmented as follows: Commercial Military Based on sub-system, the dynamic positioning system market has been segmented as follows: Position reference and tracking system Power systems, motors, and Drives DP control systems Based on type, the dynamic positioning system market has been segmented as follows: Conventional Next-generation Based on region, the dynamic positioning system market has been segmented as follows: We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info X North America (https://www.marketsandmarkets.com/Privacy-12.html).

8. Europe Asia Pacific Rest of the World (RoW) (/) Recent Developments In January 2021, Kongsberg received a contract from Wood PLC (UK) wherein Kongsberg is expected to provide key positioning and monitoring tools to Equinor’s Hywind Tampen floating wind farm as part of a contract with Wood PLC. It is expected to be the largest floating offshore wind farm and an important achievement in offshore wind power projects. In June 2019, ABB launches the new product, the dynamic positioning 2 (DP2) functionality for ABB Ability Marine Pilot Control. The solution magnifies vessel command execution and enables operators to be attentive on safer manoeuvring. In February 2019, GE, in partnership with Pukyong National University (PKNU) (South Korea) chooses GE’s Power Conversion business to supply the SeaStream Dynamic Positioning (DP) system for the training vessel for fisheries industry training. GE’s SeaStream DP is expected to power the ship to perform operations. Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) Frequently Asked Questions (FAQ):  What is the current size of the dynamic positioning systems market?  Who are the winners in the dynamic positioning systems market?  What is the COVID-19 impact on dynamic positioning systems market?  What are some of the technological advancements in the market?  What are the factors driving the growth of the market? To speak to our analyst for a discussion on the above findings, click Speak to Analyst (https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=44881766) Custom Market Research Services We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. (/requestCustomizationNew.asp?id=44881766) We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

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