Dynamic Positioning System Market Size, Share & Industry Analysis, By Sub-Systems (Power Systems, DPS Control Systems, Sensors, Thruster Systems), By Application (Merchant Vessels, Offshore Vessels, Naval Vessels, Passenger Ships), By Equipment Type (Class 1, Class 2, Class 3) and Regional Forecast, 2024-2032

Dynamic positioning system (DPS) is a system that controls vessels position and heading automatically. The DPS system uses thrusts which are continuously active and balance the environmental factors such as waves, winds, and others. The environmental forces impacted the vessels position from desire location but the thrusts in DPS balances wind, and waves, keeping the vessels in desired position. It consists of different components such as control systems, thrusts & propulsion, power generation, heading and position reference, and environmental reference,

The DP system is widely used in offshore drilling vessels, dredging vessels, offshore support vessels, shuttle tankers, pipe-laying vessels, and others. The increasing demand for dynamic positioning systems is due to its advantages such as it is quick and easy, easily avoid bad weather, improved safety, and useful in ultra-deep water.

High cost associated with design, development, installation, and maintenance hampers the growth of the market.

In 2017, General Electric launched SeaLyte vessel control system (VCS) and SeaLyte DP. The system provides standardized and structured package for end users with smaller vessels. The new system has features such as reduced hardware system, less complex, and lower cost.

Key Market Driver -

• Expansion of oil & gas industry and rising offshore patrol vessels drives the growth of the market.

Key Market Restraint -

• Higher maintenance cost, and complexity in systems hampers the market growth.

Market Segmentation:

By sub-system, the market segmented into power systems, DPS control system, sensors, and thruster systems. Based on the application, the market segmented into merchant vessels, naval vessels, offshore vessels, and passenger ships. By equipment type, the market is classified into class 1, class 2, and class 3. From a geographical standpoint, the market categorized into North America, Europe, Asia Pacific, the Middle East, and the Rest of the World.

Key Players Covered:

Major key players that are present in the global Dynamic Positioning System market are KONGSBERG (Norway), GENERAL ELECTRIC (The U.S.), ABB (Switzerland), Rolls-Royce plc (The U.K), Wärtsilä (Finland),  Marine Technologies, LLC (The U.S.), Navis Engineering (Finland), Norr Systems pte ltd. (Singapore), Praxis Automation Technology B.V. (Netherlands), Moxa Inc. (Taiwan), and among others.

Key Insights

• Increasing number of offshore patrol vessels and expansion of oil & gas industries propels the growth of the market.

Regional Analysis:

The dynamic positioning system market is analyzed across five major regions North America, Europe, Asia Pacific, the Middle East, and Rest of the World. Asia Pacific holds the highest market share in the dynamic positioning system market. Expansion of oil & gas industries, rising number of offshore patrol vessels drive the growth of the dynamic positioning system across the region. North America will witness significant growth during forecast period owing to technological advancements in naval operations, and increasing oil & gas exploration activities. Furthermore, presence of key players such as Marine Technologies, LLC, GENERAL ELECTRIC, and others propels the growth of market.

Europe is anticipated to witness significant growth in the DPS market during the forecast period. The growth is attributed to the rising maritime trading activities, and increasing deep-sea operations. Additionally, presence of key players such as KONGSBERG, ABB, Rolls-Royce plc., Wärtsilä, and among others propels the growth of the DPS market across the Europe. The Middle East will witness moderate growth owing to the widespread oil & gas industry, and increasing number of offshore activities. In the Rest of the World, the market will show moderate growth due to growing deep-sea operations.

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Segmentation

Dynamic Positioning System Market Industry Developments

• In May 2018, Global Maritime and UniSea signed a five year contract with SorstadFarstad’s offshore supply vessel to provide dynamic positioning (DP) assurance software services. The new software would make DP testing easier, and helps in reducing vessels downtime.


• In June 2019, Rawabi Vallianz Offshore Services signed a contract with Praxis Automation Technology to deliver a complete solution of its DPS for their fleet of offshore supply vessels operating out of Saudi Arabia. Under the contract, the company retrofits 14 ships with class 2 dynamic positioning system, that includes integration to the ship’s control systems and power distribution system.