HOME Research Insight Contracts Was the Key Strategy Adopted by the Industry Players to Grow in the Dynamic Positioning Systems Market

Contracts Was the Key Strategy Adopted by the Industry Players to Grow in the Dynamic Positioning Systems Market

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), among others, are some of the major companies operating in the dynamic positioning systems market. These companies account for a major share of the dynamic positioning systems market and have manufacturing facilities across key regions, such as North America, Europe, Asia-Pacific, the Middle East, Africa, and RoW, with a strong distribution network. These companies adopted various growth strategies, such as new product launches, agreements, among others. The strategy of collaborations is one of the least followed strategies in the market.

Companies adopted the strategy of contracts to increase their market share in the dynamic positioning systems market. The strategy of new product launches was most preferred after contracts.

Major market players, such as General Electric Company (U.S.) and Kongsberg Gruppen ASA (Norway) adopted the strategy of new product launches. New products help companies to increase their market share.

General Electric Company (U.S.) is one of the key players in the dynamic positioning systems market. In September 2016, the General Electric Company introduced a new dynamic positioning system named SeaStream DP system, which improves situational awareness, rebalancing time and attention from the management system.

In March 2016, Kongsberg Gruppen ASA introduced PDS 432, a new satellite system, which integrates accessible Global Navigation Satellite Systems (GNSS) and all probable improvement services. This system increases satellite turnaround time (TAT), improves reliable monitoring, and enables accuracy under challenging signal tracking circumstances.

In November 2015, Kongsberg Maritime signed a contract with Nautilus (U.S.) to deliver the integrated vessel control system (IVHS), which includes dynamic positioning and navigation systems. This system helps in keeping a vessel in a specific position and limits it from changing its position. It also provides control and oversight of critical vessel systems for delivering efficient power and fuel consumption.

Related Reports:

Dynamic Positioning Systems 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

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