The Dynamic Positioning Systems Global Market Report 2023, provides comprehensive information on the dynamic positioning systems market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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In the context of the global maritime industry, the dynamic positioning systems (DPS) market emerges as a pivotal component of vessel positioning and navigation technology. As we delve into the numerical underpinnings of this ever-evolving sector, it becomes evident that the DPS market is primed for notable expansion. The statistics paint a compelling picture: the global DPS market, valued at $6.31 billion in 2022, is forecasted to reach $6.80 billion in 2023. This journey is underpinned by a robust compound annual growth rate (CAGR) of 7.8%, reflective of the sector’s sustained innovation and adaptability.
Yet, this narrative cannot be fully appreciated without acknowledging the formidable geopolitical developments that exert their influence. The Russia-Ukraine conflict, a significant geopolitical disruption, has cast a palpable shadow over the prospects of global economic recovery post-COVID-19, particularly in the short term. The ramifications of this conflict have resonated on an international scale, culminating in economic sanctions imposed on multiple nations. These sanctions, coupled with a surge in commodity prices and supply chain disruptions, have triggered inflationary pressures across an array of goods and services, thereby affecting diverse markets worldwide.
Despite these challenges, the DPS market remains poised for further expansion, with a projected market size of $9.06 billion anticipated by 2027. This trajectory is sustained by a CAGR of 7.5%, underscoring the industry’s unwavering commitment to progress and growth.
In conclusion, the global dynamic positioning systems market finds itself at the crossroads of innovation and adaptation. The numerical projections underscore the sector’s capacity to evolve and thrive in a constantly changing landscape. As the maritime industry continues to evolve, the DPS market plays a pivotal role in ensuring the safety and precision of vessel positioning, ultimately contributing to the efficiency and sustainability of global shipping and maritime operations. It is through these intricate dynamics that the DPS market remains a key enabler of maritime advancements and a contributor to the ever-improving landscape of global logistics.
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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. For instance, in September 2020, Hexagon | VERIPOS, a UK-based company specializing in assured positioning solutions, introduced NovAtel’s SPAN GNSS+INS technology to the offshore oil and gas maritime market. NovAtel is a Hexagon company. Through deep coupling, SPAN technology combines data from the IMU and GNSS receiver to produce a robust and accurate location, heading, velocity, attitude, and heave calculation.
The dynamic positioning systems market is segmented:
1) By Equipment Type: Class 1, Class 2, and 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
North Americawas the largest region in the dynamic positioning systems market in 2022.
The table of contents in TBRC’s dynamic positioning systems market report includes:
1. Executive Summary
2. Dynamic Positioning Systems Market Characteristics
3. Dynamic Positioning Systems Market Trends And Strategies
4. Dynamic Positioning Systems Market – Macro Economic Scenario
5. Dynamic Positioning Systems Market Size And Growth
…
27. Dynamic Positioning Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Dynamic Positioning Systems Market
29. Dynamic Positioning Systems Market Future Outlook and Potential Analysis
30. Appendix
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