“Global Dynamic Positioning System Market was valued at $ 3.7 billion by 2029”, says Visiongain
23 September 2019
Dynamic Positioning System Market Report 2019-2029: Forecasts by Subsystem (Power Systems, Thruster Systems, DP Control Systems and Sensors), Application (Passenger Ship, Merchant Vessel, Offshore Vessel, and Naval Vessel), Equipment Type (Class 1, Class 2, Class 3), by Region and Analysis of Leading Companies indicates that the Global Dynamic Positioning System Market was valued at $ 3.7 billion by 2029
Growth in the marine dynamic positioning system sector is driven by growth in offshore windmill facilities, increase in the amount of offshore patrol vessels, and increase in research vessel deployment. Moreover, growth in international trade through ocean routes and rise in offshore business operations fuel market growth. The anticipated downturn in the shipbuilding & offshore sectors, however, and heavy maintenance requirements for mechanical parts of the dynamic positioning scheme restrict the development of the industry.
Dynamic positioning system (DPS) involves position reference sensors, in combination with gyrocompasses, motion sensors, and wind sensors, that provide the computer system with data about the magnitude, position, and direction of environmental forces to preserve the position and equilibrium of the ships. The dynamic positioning system is also used to form mooring structures for energy efficiency in conjunction with mooring and anchoring. Factors such as increased amount of offshore patrol vessels, technological advances and global expansion in oil & gas refineries are anticipated to drive the market for dynamic positioning systems.
Due to an increase in the amount of dynamic positioning vessels such as survey vessels, drilling vessels, supply vessels, diving support vessels and many more, the dynamic positioning system industry has experienced rapid development in past few years. In addition, the technological enhancement and use of dynamic positioning ships by the petroleum sectors for offshore drilling also boosts the demand for dynamic positioning systems.
Growing deep-sea excavations and rising sea trade with the areas of Asia-Pacific and Africa are boosting market growth. Moreover, during offshore oil and gas activities, security activities across deep ocean waters accelerate demand for dynamic positioning systems in the Asia-Pacific region.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.
About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
Recent News
Visiongain Publishes Barge Transportation Market Report to 2031
Factors such as surge in rising agricultural export & import and massive presence of large capacity barges & increasing quality of inland waterways are propelling the market growth.
06 May 2021
Read
Visiongain Publishes Recreational Boats Market Report to 2031
Factors such as government regulations regarding safety features, Companies focusing on reducing delivery and vehicle maintenance cost, increasing awareness and expenditure are some factors driving the recreational boats market.
17 March 2021
Read
Visiongain Publishes Marine Lighting Market Report to 2031
The global marine market is expected to recover at a steady pace, details about which has been provided in the report. However, reaching revenue equivalent to the pre-COVID levels will be a challenge in the near-term according to the visiongain’s estimate.
17 March 2021
Read
Visiongain Publishes Marine Solar Market Report 2021-2031
Although there is a high degree of preference for replacing fossil energy sources by their renewable equivalents aboard ships; the study of developing renewable infrastructures for marine transportation is still in its first steps. Application of solar energy in the marine power system is widely accepted as a promising solution for many countries to develop green ship.
