Dynamic Positioning System Market Size, Share & Trends 2032
The global dynamic positioning system market is expected to grow from its estimated valuation of USD 7.80 billion in 2023 to USD 19.64 billion by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to expand at a CAGR of 10.80%. The growth factors, barriers, and effects on demand for the worldwide dynamic positioning system market are examined in this study for the period of forecasting. Additionally, it will support exploration and navigation of the prospects that present themselves in the Dynamic Positioning System Market.
Dynamic Positioning System (DPS) Market: Overview
With the use of its own propellers and thrusters, dynamic positioning systems are computer-controlled devices that consistently maintain a vessel’s heading and condition. It enables a vessel to maintain its equilibrium mechanically. Dynamic positioning systems enable vessels to operate with reliability, precision in positioning, and security. Because of this, these technologies have essentially become conventional universal in a range of industries and transcontinental marine companies like General Electric Co. and Marine Technologies LLC.
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However, the previously established submerged structures on the seabed may restrict the functionality of these systems. However, because mooring lines must have a certain depth and length, dynamic positioning systems may be the sole option for certain deepwater manufacturing and exploration scenarios. In order to maintain a vessel’s location and stability, the dynamic positioning system is made up of position indication sensors, gyrocompasses, motion sensors, and wind sensors. These components provide the computer system with data regarding the position, magnitude, and direction of location forces. For energy efficiency, the dynamic positioning system is also combined with anchoring and mooring to build position mooring systems.
Dynamic Positioning System (DPS) Market: Growth Factors
Due to the rise in dynamic position vessels such as supply, drilling, survey, diving support, and survey ships, among many others, the global dynamic positioning system market has been growing at an accelerated rate in recent years. Dynamic positioning systems are becoming more and more common due to advancements in technology and their application in offshore drilling by various oil sectors. However, the complexity of dynamic position systems lacking in proficiency is also impeding market expansion.
However, the primary obstacles impeding the growth of the DPS market are the installation and operation of the system. New opportunities for the dynamic positioning systems market are created by the application of these systems in balancing production storage space and off-loading vessel operations.
Dynamic Positioning System (DPS) Market: Segmentation
The market for dynamic positioning systems is segmented by region, equipment type, application, reference system, and sub-system. The global dynamic positioning system market is segmented into equipment classes 1, 2, and 3 based on the kind of equipment. Power systems, sensors, thruster systems, and dynamic positioning systems are all covered within the sub-system section division. The market is segmented into hydro acoustic position reference, taut wire, Artemis, laser-based systems, and discrepancy global positioning systems depending on the reference system. Applications such as passenger ships, merchant vessels, offshore vessels, and naval vessels are used to further segment the market.
Dynamic Positioning System (DPS) Market: Regional Analysis
The geographical study segment consists of detailed categorization of this market which includes Asia Pacific, North America, Latin America, Europe, the Middle East, and Africa, surrounding the top countries which holds the majority of the market.
Dynamic Positioning System (DPS) Market: Competitive players
The key players for the global dynamic positioning system (DPS) market are:
- Rolls-Royce Plc.
- General Electric Company
- L-3 Communications Holdings
- Kongsberg Gruppen ASA
- Navis Engineering
- Marine Technologies LLC
- Praxis Automation System
- Norr Systems.
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The Global Dynamic Positioning System Market is segmented as follows:
By Reference system
- hydro acoustic position reference
- taut wire
- Artemis
- laser based systems
- disparity global positioning system
By Sub-system
- power systems
- sensors
- thruster systems
- dynamic positioning systems
By Application
- passenger ships
- naval vessels
- merchant vessels
- offshore vessels
By Equipment type
- equipment class 1, 2 and 3
Global Dynamic Positioning System (DPS) Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
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