The Global Dynamic Positioning System (DPS) Market was valued at USD 1754.98 Mn in 2020 and is expected to reach US$ 1979.68 by 2030. Some of the primary market participants areKongsberg Gruppen ASA, General Electric, Wartsila Oyj ABP, ABB, Rolls-Royce, Navis Engineering, Marine Technologies, LLC, Praxis Automation Technology, Mitsui Engineering & Shipbuilding, and Guidance Marine amongst others.
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Dynamic Positioning System (DPS) is used for positioning marine vessels in the sea within a predefined limit. It is a computer-controlled system that includes thrusters, and position reference/units. The dynamic position systems primarily work on the principle of propulsion to work against the effects of displacing wave, current and wind action. Their demand has grown over the years owing to the necessity of keeping the vessel essentially in a fixed heading and position during offshore activities. The application of DP systems is principally useful in maintaining fixed position or track keeping during offshore activities in support vessels, drilling vessels, pipe laying and construction vessels, dredging vessels and shuttle tankers.
In order to meet consumer demands and the growing industrialization and technological advancements, the deep-sea offshore activities are increasing. However, the adverse aftereffects of these activities are growing as well, pertaining to inattentive usage and inconsistent control. Consequently, the regulation framework holds an important place in managing the DPS and their associated issues. For example, the Dynamic Positioning Vessel Owners Association (DPVOA) was formed in 1990 by a group of consultants. The DPVOA is responsible for the development of the maritime safety committee circular 645 along with the International Maritime Organization (IMO) based on relevant incidents associated with DPS and the information collected. In 1995, the DPVOA merged with the international association of diving contractors (AODC) to form IMCA. Since then, the International Marine Contractors Association (IMCA) is considered as a one of the major dynamic positioning regulatory frameworks.
Dynamic Positioning System Market, By Product
On the basis of product, class I dynamic positioning system (DPS) accounts for the largest market share in 2017. In class I systems operations are controlled within a single design requirement. These systems require a single DP computer with centralized and independent manual position control. There can be a loss of position during a single fault event. These systems deliver simple backups for majority of the components and changeover of control requires manual intervention. However, in Class I operations, loss of position keeping capability is not considered to cause personnel injury, pollution, or damage with large economic consequences. Hence, the volume of Class I DPS is high as compared to other products.
Dynamic Positioning System Market, By Region
In terms of revenue, Asia Pacific constituted the largest market for Dynamic Positioning System in 2017. Dynamic positioning system vessels for offshore drilling by oil industries in Asia Pacific region is the major factor behind the growth of the market in this region. In addition, it is anticipated that the demand for class-III dynamic positioning equipment will grow over the coming years in this region. Moreover, China, Japan, and South Korea are fastest-growing economies and the increase in the number of dynamic position vessels like survey vessels, drilling ships, supply vessels, diving support vessels and many more, in this region is boosting the overall market growth.
Dynamic Positioning System Market research added by Absolute Markets Insights, offers a comprehensive analysis of the growth trends prevailing in the global business arena. This report also provides definitive data regarding the market, size, marketing aspects, and revenue forecast of the industry. In addition, the study explicitly highlights the competitive status of major players in the projection schedule while focusing on their portfolio and regional expansion efforts.
The Global Dynamic Positioning System Market Analysis to 2030 is a specialized and in-depth study of the Technology, Media, and Telecommunications industry, with an emphasis especially on the analysis of global market trends. The report aims to provide an overview of the enterprise content delivery networks and enterprise streaming software market with detailed market segmentation by component, type of deployment, industry vertical, and geography. The global market for enterprise content delivery networks and enterprise streaming software is expected to witness high growth during the forecast period.
Financial performance:
The overall turnover of the companies / segments for the years 2021, 2020 and 2019 is provided in the sub-heading “Financial performance” (listed companies) with the analysis and explanation of the increase or decrease. decrease in these due to factors such as mergers and acquisitions, profit or loss of any strategic business unit (SBU) and others.
Strategic initiatives:
Information relating to new product launches, strategic collaboration, mergers and acquisitions, regulatory approval and other company developments in the market is covered in the strategic initiatives section.
Dynamic Positioning System Market: Regional analysis includes:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (United States, Mexico and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC countries and Egypt.)
This research provides detailed information on the major factors influencing the Dynamic Positioning System market growth on a global and regional level (drivers, restraints, opportunities and challenges), forecast of market size, in terms of value, market share by region and segment; regional market positions; growth opportunities by segment and by country, strengths and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats of current competition and prospects; Key Company Profiles, SWOTs and Growth Strategies.
The Dynamic Positioning System market research covers a comprehensive analysis of the following data:
• Historical and future growth of the Global Dynamic Positioning System market.
• Segmentation of enterprise content delivery network and enterprise streaming software market to highlight the growth prospects and trends impacting these segments.
• Change the consumption behavior of customers in different regions.
• Regional analysis on the basis of market share, growth prospects and key countries.
• Agreements, product launches, acquisitions and R&D projects of various players in the enterprise content delivery networks and enterprise streaming software market.
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