Dynamic Positioning Systems Market Size & Global Forecast 2030

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REPORTS (/TOP-MARKET-REPORTS.ASP) ? DYNAMIC
POSITIONING SYSTEMS MARKET GLOBAL TOP 2000
STRATEGIST RELY ON US FOR THEIR GROWTH
STRATEGIES. KDNyOnWaMmORiEc P(/oKnsowitleidognesit
onreg.asSpyresquteestm_frese_Mtriaal) rket 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) FREE BROCHURE (/pdfdownloadNew.asp?id
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p?id44881766) Report Code AS 3466May, 2021, by
marketsandmarkets.com DESCRIPTION TABLE OF
CONTENTS METHODOLOGY DOWNLOAD PDF
(/PDFDOWNLOADNEW.ASP?ID44881766) 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.
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81766) 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 worlds trade is carried out
through sea routes as the freight costs are
competitive and ideal for the transport of heavy
goods and Wegouosedcsooinkiebsutolke.nAhasncpeeyro
tuhr eexppeuribelniccea. tBioyncoontfintuhinegUton
viitseitdthiNs saitteioynous aCgroene fteo roeunr
ucsee oofncoTorkaiedse. Maonrde inDfoevelopment
(UNCTAD), theX
(https//www.marketsandmarkets.com/Privacy-12.html
).
3
ched approximately 12.8 billion tons in 2019 due
to the rising global population, rising duct
(GDP), increasing disposable incomes, especially
in Asian countries, and rising ore, goods
transport by sea is expected to drive the demand
for shipbuilding, in turn, l(e/)ading to the rise
in demand for DPS.
global seaborne trade rea global gross domestic
pro standards of living. Theref
Opportunity Autonomous shipping industry
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inLYgSTinBnRoIEvFaINtGioSn.HsTMaLn)d
CisARloEoERkSin(g/CAfoRrEwERa.rAdSPto)
enabling CONTACT US (/CONTACTUS.ASP) implementatio
n. Various players in the maritime industry have
undertaken significant efforts in
developing autonomous ships (https//www.marketsan
dmarkets.com/Market-Reports/autonomous-ships-marke
t- 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.
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ptions considered for the study, download the pdf
brochure markets.com/pdfdownloadNew.asp?id4488176
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To know about the assum (https//www.marketsand N
ext generation dynami
c positioning system segment to register the
highest CAGR during the forecast
(/)
period
Based on type, the next generation segment is
projeScigtneIdn (thottpwsi/t/nwewsws.mtahrkeethsa
ignhdmeasrtkeCtsA.cGomR/sidgunirni.nasgp)the
forecast period.
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CyHbLEeAdDrEiRvSeHnIPb.AySPth) eBrRisIEeFINaGnSd(/
dAeNvAeLYloSTpBmRIeEnFItNiGnSt.HhTeMaL)utoCAnRoEmE
RoSu(s/CvAeRsEsERe.lAsS.PC) urrently, there are
CcOoNuTnAtCrTieUsS i(n/COmNaTAnCyTrUeSg.AioSPn)s
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.
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.
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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)
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Scope of the Report
Report Metric Details
Estimated Market Size USD 6.3 Billion
Projected Market Size USD 10.5 Billion
Growth Rate 10.7
Market Size Available for Years 20172026
Base Year Considered 2020
Forecast Period 20212026
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
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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
Covered
Companies
(/)
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orkyeatslaInHdmCar(kNetes.tchoemr/lsaignndins.a)s,
p)
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CONTACT US (/CONTACTUS.ASP)
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)
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 North America
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Asia Pacific Rest of the World (R Recent
Developments
oW)
(/) In January 2021, Kongsberg received a
contract from Wood PLC (UK) wherein Kongsberg is
expected to HOME (/)proAvBiOdUeT kUeS
y(/ApBoOsUiTtiUoSn-8in.HgTMaLn)d
LmEAoDnEitRoSrHinIPgT?EtoAoMls(/LtEoSAiDEgnEqRIunS
iH(nhIPottpTrsEsA//MwHw.AywSw.Pmi)nadrkeTtsaamnd
pmeanrkefltos.acotimn/gsigwniinn.adspfa) rm as
part of a RESEARcCoHnEtXraPEcRt
TwSi(t/hREWSEoAoRdCHPLLEACD.EIRtSisHIPe.AxSpPe)ctB
eRdIEtFoINbGeS (t/hAeNAlLaYrSgTeBsRtIEfFloINaGtiSn
.HgTMoLff)shCoArReEwERinS d(/CfAaRrmEERa.AnSdP)an
important CONTACT US (/CONTACTUS.ASP) 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 GEs
Power Conversion business to supply the SeaStream
Dynamic Positioning (DP) system for the training
vessel for fisheries industry training. GEs
SeaStream DP is expected to power the ship to
perform operations. 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
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