Global Dynamic Positioning Systems Market Size, Share, And Growth Analysis For 2024-2033

The Business Research Company

The Business Research Company's Dynamic Positioning Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire.com/ -- The dynamic positioning systems market¹ has experienced robust growth in recent years, expanding from $6.8 billion in 2023 to $7.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to marine exploration and offshore activities, offshore energy industry expansion, demand for precision and safety, increased deepwater exploration, commercial shipping requirements.

What Is The Estimated Market Size Of The Global Dynamic Positioning Systems Market And Its Annual Growth Rate?

The dynamic positioning systems global market is projected to continue its strong growth, reaching to $9.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rise in offshore renewable energy, offshore infrastructure development, growth in autonomous vessels, focus on environmental sustainability, maritime safety and risk mitigation. Major trends in the forecast period include focus on operational performance, continuous r&d and innovation, market expansion into emerging economies, cost-efficiency in operations, collaboration and industry partnerships.

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Growth Driver Of The Dynamic Positioning Systems Market

An increase in seaborne trade globally is propelling the dynamic positioning systems market. Seaborne trade refers to the shipping of goods in containers via a sea route that enables the shipping of a large volume of goods at a low cost, and those shipping containers can also be further used to transport goods via road or rail. Due to the ship's dynamic positioning system, it can maintain its position even in adverse weather. The computer receives information from position reference sensors about the position of the vessel and the strength and direction of the environment influencing that position.

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Which Market Players Are Driving The Dynamic Positioning Systems Market Growth?

Key players in the dynamic positioning systems market include Moxa Inc., Kongsberg Gruppen AS, Praxis Automation Technology B.V., General Electric Company, Norr Systems Pte. Ltd., ABB Ltd., Marine Technologies LLC, Wärtsilä Oyj Abp, Rolls-Royce Holdings plc, AB Volvo plc, L-3 Communications Holdings Inc., RH Marine Group, Twin Disc Incorporated, Koninklijke IHC, Reygar Ltd., Sonardyne International Ltd., COMEX SA, Navis Engineering LLP, Advanced Navigation Pty Ltd., Teledyne Technologies Inc., Applanix Corporation, Underwater Engineering S.A.L., C-Nav Positioning Solutions, Denar Ocean Engineering Ltd., Marine Management Limited, Alphatron Marine BV, L3Harris Technologies Inc., Wartsila Guidance Marine BV, Thrustmaster of Texas Inc.

What Are The Emerging Trends Shaping The Dynamic Positioning Systems Market Size?
Technological advancement is a key trend in the dynamic positioning systems market. Major players focus on innovation in dynamic positioning systems to develop a more accurate and efficient positioning system and gain a competitive edge in the market.

How Is The Global Dynamic Positioning Systems Market Segmented?

1) By Equipment Type: Class 1, Class 2, Class 3
2) By Component: Power System, DP Control System, Thruster System
3) By Application: Passenger Vessels, Merchant Vessels, Platform Supply Vessels/Offshore Support Vessels, Naval Vessels and Operations
4) By End Use: OEM, Aftermarket

Geographical Insights: North America Leading The Dynamic Positioning Systems Market

North America was the largest region in the dynamic positioning systems market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dynamic positioning systems global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Dynamic Positioning Systems Market Definition
The dynamic positioning system refers to the system that utilizes continuously operating thrusters to manage the position and heading of a vessel. The thrusters automatically counteract environmental factors that may otherwise cause the vessel to drift from its intended position. The dynamic positioning systems are used for tracking, maneuvering, maintaining a fixed position, and changing location or weather vanes to avoid weather effects.

Dynamic Positioning Systems Global Market Report 2024² from The Business Research Company³ covers the following information:

• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global dynamic positioning systems market report covering trends, opportunities, strategies, and more

The Dynamic Positioning Systems Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on dynamic positioning systems market size, market drivers and trends, dynamic positioning systems market major players, dynamic positioning systems competitors' revenues, dynamic positioning systems market positioning, and dynamic positioning systems market growth across geographies. The dynamic positioning systems global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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