Dynamic Positioning System Market Research Report - Global Forecast till 2030

Dynamic Positioning System Market Research Report: By Subsystem (Control System, Thruster System, Power System, and others), Equipment Class (Class 1, Class 2 and Class 3), Application (Merchant Vessels, Passenger Vessels, Naval Vessels, and Offshore Vessels) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2030

ID: MRFR/E&P/7281-HCR | November 2022 | Region: Global | 111 Pages         

Dynamic Positioning System Market

Global Dynamic Positioning System Market size is expected to reach USD 685 million by 2025, at a CAGR of 8.34% between 2019 and 2025

Segmentation

By Subsystem Control System Thruster System Power System Others
By Equipment Class Class 1 Class 2 Class 3
By Application Merchant Vessels Passenger Vessels Naval Vessels Offshore Vessels

Key Players

  • Volvo Penta
  • ABB
  • General Electric
  • Kongsberg Gruppen
  • Moxa Inc.
  • Marine Technologies LLC
  • Rolls-Royce PLC
  • Praxis Automation
  • Wartsila Corporation
  • Navis Engineering Oy
  • L-3 Communications Holdings.
  • NORR Systems Pte Ltd
  • Guidance Marine
  • JRC
  • Master Boat Builders Inc

Drivers

  • Increasing number of offshore patrol vessels
  • Technological advancements
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Dynamic Positioning System Market Overview


The Dynamic Positioning System market size is expected to reach USD 685 million, at a CAGR of 8.34% between 2022 and 2030. Increasing number of offshore patrol vessels is expected to drive global Dynamic Positioning System Market.


The dynamic positioning system is a computer-controlled system that monitors the vessel's position, direction, and heading automatically using its propellers and thrusters. As the environmental forces impact the vessels, the thrusts are regularly active and help in balancing the environmental factors like waves, winds, and others. It includes different components like control systems, power generation, thrusts & propulsion, heading & position reference, and environmental reference.


This system is composed of various sensors like position indication sensors, motion sensors, wind sensors, and gyrocompasses which provide the perfect information regarding the position, scale, and direction of location forces for keeping the vessel's location and stability. It is also used with anchoring and mooring for energy efficiency and to build position mooring systems. This system has various benefits like quick & ease, improved safety, easily avoiding bad weather, and useful in ultra-deepwater which propels the demand for the dynamic positioning system market. These features make this system find applications in dredging vessels, offshore drilling vessels, offshore support vessels, pipe-laying vessels, shuttle tankers, and others.


Furthermore, fast technical advancements in monitoring and dynamic positioning systems, as well as an increase in activities in the offshore shipping industry, are heavily affecting the growth of the dynamic positioning systems market. Another trend expected to fuel the growth of the dynamic positioning systems market is the increase in deep-sea explorations and marine trade. Furthermore, the rise in the offshore shipping sector and the increase in the number of dynamic positioning boats are projected to drive the growth of the dynamic positioning systems market during the forecast period.


This report contains all the information on the global Dynamic Positioning System market trends and strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the Dynamic Positioning System market forecast for 2027 is also included in the report.


Dynamic Positioning System Market Covid 19 Analysis


Due to a government-imposed shutdown to monitor the spread of COVID-19 across the world, producers of dynamic positioning systems are being forced to shut down production activities. Ships and component manufacturers are experiencing operating issues as a result of supply chain disruption caused by government shipping restrictions imposed in the aftermath of the COVID-19 outbreak.


Dynamic Positioning System Market Competitive landscape


Due to the extreme existence of numerous important competitors in the dynamic positioning system industry, the main players of the global dynamic positioning system market are extremely diverse.


Major Key Players in Dynamic Positioning System Market



  •         Volvo Penta

  •         ABB

  •         General Electric

  •         Kongsberg Gruppen

  •         Moxa Inc.

  •         Marine Technologies LLC

  •         Rolls-Royce PLC

  •         Praxis Automation

  •         Wartsila Corporation

  •         Navis Engineering Oy

  •         L-3 Communications Holdings, Inc.

  •         NORR Systems Pte Ltd

  •         Guidance Marine

  •         JRC

  •         Master Boat Builders Inc


Recent Developments in Dynamic Positioning System Market



  • One of the prominent leading companies, General Electric introduced the two innovative systems named SeaLyte vessel control system (VCS) and SeaLyte DP which provides standardized and structured packages for end-users with smaller vessels in 2017. This innovation has various beneficial features like reduced hardware system, less complex, and lower cost.

  • In May 2018, a well-known enterprise, Global Maritime and UniSea took a five-year contract with SorstadFarstad’s offshore supply vessel for providing dynamic positioning (DP) assurance software services. This software easily does the DP testing and helps in lessening the vessel’s downtime. Whereas in June 2019, a highly populated enterpriser, Rawabi Vallianz Offshore Services took a contract with Praxis Automation Technology for delivering an entire solution of its DPS for their fleet of offshore supply vessels which is operated out of Saudi Arabia.


Dynamic Positioning System Market Dynamic



  •         Drivers


The amount of bulk cargo sold and carried by maritime routes around the world has grown over time since ships are more cost-effective than other modes of transportation. This, in turn, has resulted in an increase in worldwide seaborne trade. According to the International Chamber of Shipping, 90 percent of the world's trade is carried out by sea routes in 2019 because freight rates are low and appropriate for the shipment of large products and items in bulk.


According to the United Nations Conference on Trade and Development (UNCTAD), worldwide seaborne trade reached roughly 12.8 billion tonnes in 2019 as a result of expanding global population, rising global GDP, rising disposable incomes, particularly in Asian nations, and rising living standards. As a result, cargo transit by water is projected to stimulate demand for shipbuilding, resulting to an increase in demand for dynamic positioning system market growth.



  •         Opportunities


The marine sector has also made ground-breaking advances and is eager to see them put into practice. Various maritime sector firms have made considerable investments in developing self-driving ships. These projects are being built in order to give the capability of transferring freight and passengers from one site to another on navigable waters in the future. Grovfjord Mek. Verksted (GMV) Shipyard (Norway) has chosen companies such as A. B. Volvo (Sweden) to build a fleet of unmanned boats for the commercial sector.



  •         Restraints


The market for dynamic positioning systems, however, has some constraints that are likely to stymie the industry's potential growth, such as sophisticated technology, high initial installation costs, and high maintenance expenses.



  •         Challenges


Dynamic positioning systems employ a computer-controlled system that gives information on the influence of wind on the container as well as the position of the thrusters, which is difficult for unskilled individuals to handle. DP systems are becoming critical components of offshore operations, requiring properly educated and highly competent personnel to operate. Operators play a crucial role since they are responsible for the proper operation of boats equipped with DP systems.


Cumulative Growth Analysis


Many significant manufacturers, including Volvo Penta, ABB, General Electric, Kongsberg Gruppen, and Wartsila Corporation, are concentrating on creating new dynamic positioning system solutions. Such businesses are actively working on a market entry strategy by creating new products in order to provide the most appropriate dynamic positioning systems market outlook. For example, in September 2018, ABB introduced a new product called Marine Pilot Control, which minimizes the labor associated with automating navigational operations. This new product introduction has assisted the firm in expanding its product line.


Value Chain Analysis


According to the reports, the worldwide dynamic positioning system market has been divided into subsystems, equipment classes, applications, and regions. The worldwide market for subsystems comprises a control system, a propulsion system, a power system, and others. The control system sector is projected to have the highest share because control components and systems, which are required to dynamically position the vessel, are an important part of the control system. The global market is divided into three classes of dynamic positioning equipment: class 1, class 2, and class 3. The worldwide dynamic positioning system market has been divided into subsystems, equipment classes, applications, and regions. The worldwide market for subsystems comprises a control system, a propulsion system, a power system, and others. The control system sector is projected to have the highest dynamic positioning system market share because control components and systems, which are required to dynamically position the vessel, are an important part of the control system. The global market is divided into three classes of dynamic positioning equipment: class 1, class 2, and class 3.


Dynamic Positioning System Market Segmentation Overview


The market is segmented based on subsystems, equipment classes, applications, and regions. The global dynamic positioning system market is expected to witness decent growth during the forecast period.


By Application


The market is segmented into Commercial and Military based on the application.


By end-users


Based on the propulsion types, the market is segmented into Position reference and tracking systems, Power systems, motors, and Drives, and DP control systems.


Regional Analysis


According to the reports, the worldwide dynamic positioning system market is divided into five regions: Asia-Pacific, North America, Europe, the Middle East, and Africa, and South America. Due to the increasing number of offshore patrol vessels and technological developments in the area, Asia-Pacific is projected to be the largest and fastest-growing regional market. Deep-sea excavations are expanding, and marine traffic with the Asia-Pacific and Africa areas is developing, driving market development. Furthermore, the need for dynamic positioning systems in the Asia-Pacific area is increasing due to safety operations in deep ocean waters during offshore oil and gas activities.


Report Overview


The following report comprises of –



  •         Market overview 

  •         Covid 19 Analysis

  •         Market Dynamic

  •         Drivers

  •         Opportunities

  •         Restraints 

  •         Challenges

  •         Cumulative Growth Analysis

  •         Value Chain Analysis

  •         Segmentation Overview 

  •         By Application 

  •         By End-Users

  •         Regional Analysis

  •         Competitive landscape


Recent Developments



  • Kongsberg was awarded a contract by Wood PLC (UK) in January 2021 to deliver critical positioning and monitoring tools to Equinor's Hywind Tampen floating wind farm as part of a deal with Wood PLC. It is projected to be the largest floating offshore wind farm in the world, as well as a significant milestone in offshore wind power projects.

  • ABB will offer a new product, dynamic positioning 2 (DP2) capabilities for ABB Ability Marine Pilot Control, in June 2019. The approach amplifies vessel command execution and allows operators to focus on safer maneuvering.

  • In February 2019, GE, in collaboration with Pukyong National University (PKNU) (South Korea), selects GE's Power Conversion business to deliver the SeaStream Dynamic Positioning (DP) system for the fisheries industry teaching vessel. The ship's operations will be powered by GE's SeaStream DP.


Based on end-use,



  • OEM

  • Aftermarket


Based on equipment type,



  • Class 1

  • Class 2

  • Class 3


Based on application,



  • Commercial

  • Military


Based on the sub-system,



  • Position reference and tracking system

  • Power systems, motors, and Drives

  • DP control systems


Based on type,



  • Conventional

  • Next-generation


Based on region,



  • North America

  • Europe

  • Asia Pacific

  • Rest of the World (RoW)



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2025: USD 685 Million
  • 2030 : Significant value
  •   CAGR   8.34% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Subsystem, Equipment Class, Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Volvo Penta, ABB, General Electric, Kongsberg Gruppen, Moxa Inc., Marine Technologies LLC, Rolls-Royce PLC, Praxis Automation, Wartsila Corporation, Navis Engineering Oy, L-3 Communications Holdings, Inc., NORR Systems Pte Ltd, Guidance Marine, JRC, and Master Boat Builders Inc.
      Key Market Opportunities   New product launch has helped the company
      Key Market Drivers

  • Increasing number of offshore patrol vessels
  • Technological advancements


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    Frequently Asked Questions (FAQ) :

    The global dynamic positioning system market is estimated to value USD 685 million by the end of 2025.

    The global positioning system market is estimated to thrive at a CAGR of 8.34% during the forecast period from 2022 to 2030.

    The most distinguished players of the global dynamic positioning system market are Volvo Penta, ABB, General Electric, Kongsberg Gruppen, Moxa Inc., Marine Technologies LLC, Rolls-Royce PLC, Praxis Automation, Wartsila Corporation, Navis Engineering Oy, L-3 Communications Holdings, Inc., NORR Systems Pte Ltd, Guidance Marine, JRC, and Master Boat Builders Inc.

    The increasing number of offshore patrol vessels and technological advancements are the most significant factor leading to market expansion.

    The global dynamic positioning system market has been segmented into North America, Asia-Pacific, Europe, and the Middle East. Among all. The APAC region is estimated to be the fastest-growing regional market.