Dynamic Positioning System Market

Dynamic Positioning System (DPS) Market worth 1.82 Billion USD by 2021

The report "Dynamic Positioning System (DPS) Market by Subsystem (Power Systems, Thruster Systems, DP Control Systems, and Sensors), Application (Passenger Ship, Merchant Vessel, Offshore Vessel, and Naval Vessel), Equipment Type, and Region - Global Forecast to 2021", The dynamic positioning systems market is projected to grow from USD 1.62 Billion in 2016 to USD 1.82 Billion by 2021, at a CAGR of 2.36% during the forecast period. The base year considered for the study is 2015 and the forecast period is from 2016 to 2021. Factors, such as increase in the number of offshore patrol vessels, technological advancements, and expansion in oil & gas refineries worldwide are expected to drive the dynamic positioning systems market.

Browse 94 market data Tables and 94 Figures spread through 214 Pages and in-depth TOC on "Dynamic Positioning System (DPS) Market - Global Forecast to 2021"
Early buyers will receive 10% customization on reports.

Based on equipment type, the Class 3 segment of the dynamic positioning systems market is expected to grow at the highest CAGR during the forecast period

Class 3 dynamic positioning systems provide accurate location of a vessel as compared to other equipment types. Manufacturing companies prefer Class 3 DP systems, as they are high technologically advanced. This factor is expected to fuel the growth of the Class 3 segment. Class 3 systems hold a vessel in its exact position where it has to be even in extreme conditions, such as high tides, fire caused in the vessel, among others.

Based on application, the merchant vessels segment is expected to grow at the highest rate during the forecast period

Based on application, the merchant vessels segment of the dynamic positioning systems market is estimated to grow at the highest CAGR during the forecast period. Increasing use of dynamic position (DP) vessels for offshore drilling by oil industries is fueling the growth of the merchant vessels segment.

Africa is projected to grow at the highest CAGR during the forecast period

Africa is one of the fastest-growing markets for dynamic positioning systems due to increase in the end users of dynamic positioning systems. Africa’s economic development was fueled by activities related to extraction of massive energy sources. Due to the presence of a significant number of natural resources, various non-African companies are willing to contribute towards the development of the African maritime sector. The marine port will serve as a gateway for East African landlocked countries, such as Uganda, Malawi, Rwanda, Burundi, Zambia, and the Democratic Republic of Congo.

Major players in the dynamic positioning systems market are General Electric Company (U.S.), Rolls-Royce plc. (U.K.), ABB Group (Switzerland), L-3 Communications Holdings, Inc. (U.S.), Wartsila Oyj Abp (Finland), and Kongsberg Gruppen ASA (Norway).

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]

Report Code
AS 3466
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Dynamic Positioning System Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2021 MarketsandMarkets Research Private Ltd. All rights reserved

Digital Virtual Assistant - MarketsandMarkets