Dynamic Positioning System Market Highlights:
Dynamic Positioning System Market size is expected to reach USD 685 million, at a CAGR of 8.34% between 2022 and 2030.
The dynamic positioning system market refers to the segment of the maritime industry that includes the manufacturing, distribution, and sales of systems used to automatically maintain the position and heading of ships, drill rigs, and other vessels. Dynamic positioning systems (DPS) are widely used in offshore oil and gas exploration and production, marine research, survey applications, and other maritime activities that require precise vessel positioning and control.
The global dynamic positioning system market is expected to witness strong growth in the coming years, driven by the growing offshore oil and gas exploration activities. With the depletion of onshore oil and gas reserves, oil and gas exploration activities are increasingly shifting to offshore locations, which require advanced positioning and control systems to ensure safety and efficiency.
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The dynamic positioning system market in Europe is expected to be dominated by Germany owing to the technological advancement in dynamic positioning system. Moreover, companies such as ABB (Switzerland), General Electric (US), Kongsberg Gruppen (Norway), and Volvo Penta AB (Sweden) have presence in Germany which would drive the dynamic positioning system market in the country.
The dynamic positioning system market in North America is dominated by the US owing to increasing demand for offshore patrol vessels in the country.
The global market for dynamic positioning system has been segmented based on subsystem, equipment class, application, and region. By subsystem, the global market has been divided into control system, thruster system, power system, and others. The control system segment is expected to dominate the global market and is likely to register the highest CAGR. Based on equipment class, the global market is segmented as class 10, class 2, and class 3. The class 3 segment is expected to register the highest CAGR during the forecast period as this segment includes dynamic positioning system that provide accuracy in a vessel’s position as compared to other class types. By application, the market has been segmented into merchant vessels, passenger vessels, naval vessels, and offshore vessels. The offshore vessel segment is expected to hold the largest market share during the forecast period.
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Scope of the Report
This report provides an in-depth analysis of the global dynamic positioning system market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for Asia-Pacific, North America, South America, Europe, and the Middle East Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global dynamic positioning system market by subsystem, equipment class, application, and region.
- Subsystem
- Control system
- Thruster system
- Power system
- Others
- Equipment Class
- Class 1
- Class 2
- Class 3
- Application
- Merchant Vessels
- Passenger Vessels
- Naval Vessels
- Offshore Vessels
- By Region
- North America
- Asia-Pacific
- Europe
- Middle East Africa
- South America
Key Players
The key players operating in the Global Dynamic Positioning System Market are ABB (Switzerland), General Electric (US), Kongsberg Gruppen (Norway), Volvo Penta AB (Sweden), Moxa Inc. (Taiwan), Marine Technologies, LCC (US), Rolls Royce plc (UK), Praxis Automation (Netherlands), Wartsila Corporation (Finland), Navis Engineering Oy (Finland), L-3 Communications Holdings, Inc. (US), NORR Systems Pte Ltd (Singapore), Guidance Marine (UK), Master Boat Builders Inc. (US), and others.
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