Dynamic Positioning System Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

The dynamic positioning system (DPS) is a computer-controlled system integrated into ships to navigate the ship and maintain its position by handling its own propellers and thrusters. The system is properly maintaining the ship's position as well as minimizes fuel consumption. Increasing focus towards safe docking operations and safety guidelines are supporting the market growth.

MARKET DYNAMICS

In the global dynamic positioning systems (DPS) market, recent advancements in technologies and the growing adoption of automated docking systems drive the market growth. The increasing activities in the offshore industry are playing a vital role in market growth. DPS is getting adopted in offshore vessels to ease command execution and safe docking. The continuous development in dynamic positioning systems creates new opportunities for the market. In addition, the constant strives for dynamic positioning systems having enhanced automated control is bolstering the market growth. Moreover, the growing demand for the automation technology for assisted docking applications drives the market growth. For instance, In January 2021, Volvo Penta, a supplier of new technology for industrial and marine applications has introduced a new Assisted Docking system in Consumer Electronics Show 2021.

MARKET SCOPE

The "Global Dynamic Positioning System Market Analysis To 2031" is a specialized and in-depth study of the Aerospace and Defense Industry with a special focus on the global market trend analysis. The dynamic positioning system market report aims to provide an overview of the dynamic positioning system market with detailed market segmentation by subsystem, application, fit type, and geography. The global dynamic positioning system market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading dynamic positioning system market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global dynamic positioning system market is segmented on the basis of the subsystem, application, fit type, and geography. Based on subsystem, the dynamic positioning system market is segmented into power systems, thruster systems, DP control systems, and sensors. On the basis of application, the dynamic positioning system market is segmented into passenger ship, merchant vessel, offshore vessel, and naval vessel. On the basis of fit type, the dynamic positioning system market is segmented into line fit and retro fit.


REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global dynamic positioning system market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The dynamic positioning system market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the dynamic positioning system market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA, and South& Central America after evaluating political, economic, social and technological factors affecting the dynamic positioning system market in these regions.

IMPACT OF COVID-19 ON dynamic positioning system MARKET
The outbreak of the COVID-19 has severely impacted the defense, Naval, aviation and other related industries. The emergence of COVID-19 virus across the globe has lowered the revenue of naval operations and components manufacturers . The lower production and deliveries of the ship vessels has severely impacted the market growth. Travel restrictions, and disruption in supply chains has negatively affected the market growth. however, lowering cost of shipping industry due to increased availability ships in pandemic period has somehow supported the market growth.

Dynamic Positioning System Market Report Analysis

Dynamic Positioning System Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• AB Volvo
• General Electric
• Japan Radio Co.
• Kongsberg Maritime
• Marine Technologies, LLC
• Navis Engineering
• NORR Systems
• Praxis Automation Technology B.V.
• RH Marine

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Subsystem

• Power Systems
• Thruster Systems
• DP Control Systems
• Sensors

By Application

• Passenger Ship
• Merchant Vessel
• Offshore Vessel
• Naval Vessel

By Fit Type

• Line Fit
• Retro Fit

MARKET PLAYERS

The reports cover key developments in the dynamic positioning system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnerships & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players from the dynamic positioning system market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the underwriting and rating software market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the underwriting and rating software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   AB Volvo
  
•   General Electric
  
•   Japan Radio Co.
  
•   Kongsberg
  
•   Marine Technologies, LLC
  
•   Navis Engineering
  
•   NORR Systems Pte Ltd
  
•   Praxis Automation Technology B.V.
  
•   RH Marine
  
•   W¤rtsil¤ Corporation
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Dynamic Positioning System Market Report Scope