Press release
Dynamic Positioning System Market Analysis Covering Size, Share, Growth, Trends
- Increasing research & development initiatives
The prerequisite for technological advancement (enables deeper waters than ships), increasing manufacturers ' research and development projects drives the demand for dynamic positioning systems. Offshore oil & gas refinery has seen important development in recent years, due to market players ' development in investment to create sophisticated and innovative vessel operating technologies.
- Rising maritime trade
Increasing maritime trade in Middle East Africa and Asia-Pacific , along with deep-sea excavations, is the key driver of development in the market for dynamic positioning systems. Ensuring security activities and pushing from the public side also helps to raise awareness among consumers.
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Factors Restraining the Market Growth:
- Downturn in the offshore industry
In the coming years, the expected downturn in the offshore industry and the weakening shipbuilding industry is expected to affect the general market for marine dynamic positioning systems. The deterioration of market situations for the offshore oil & gas sector and the fall in oil prices are some of the factors that restrict the development of the market. Moreover, worldwide oversupply, recessions, and changes in financial fundamentals restrict the shipbuilding industry's development.
Market Segmentation 2019-2029:
The Dynamic Positioning System Market is segmented on Subsystem, Application, Equipment Type, and Regional basis.
Subsystem
- Power Systems
- Thruster Systems
- DP Control Systems
- Sensors
Application
- Passenger Ship
- Merchant Vessel
- Offshore Vessel
- Naval Vessel
Equipment Type
- Class 1
- Class 2
- Class 3
Regional Breakdown
Focused regional forecasts and analysis explore the future opportunities:
- North America
- Europe
- Asia-Pacific
- LAMEA
Competitive Analysis:
- Global dynamic positioning system competitive environment is expected to be moderate over the period ranging 2019 - 2029 by virtue of limited manufacturers operating in this industry
- The market competition is expected to be on the basis of new product development and product pricing.
Read More:- https://www.kennethresearch.com/report-details/dynamic-positioning-system-market/10166411
Major Market Players:
Rolls-Royce PLC, Marine Technologies LLC, Kongsberg Gruppen ASA, L-3 Communications corp., General Electric Co.,NORR Systems Pvt. Ltd., Navis Engineering Oy, AB Volvo Penta, and Praxis Automation and Technology B.V.
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Name: David
Email : Sales@kennethresearch.com
Phone: +1 313 462 0609
About Kenneth Research:-
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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