Press release
Dynamic Positioning System Market Pegged for Robust Expansion by 2026
Some key takeaways from this report –
The report offers key drivers that trigger the growth in the Dynamic Positioning System Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.
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The research offers segment wise analysis of the Dynamic Positioning System Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.
Dynamic Positioning System Market Share: By Equipment Type
Based on the equipment type, the market is segmented as class 1, class 2, and class 3. The Class 3 segment is estimated to register the highest growth during the forecast period. It includes dynamic positioning systems that deliver precision in a vessel’s position as compared to other class types. Owing to the technological advancements and preference of class 3 dynamic positioning systems, their demand is on the anvil, which is driving the growth of the segment.
Dynamic Positioning System Market Share: By Application Type
Based on the application type, the market is segmented as merchant vessels, offshore vessels, passenger ships, and naval vessels. The merchant vessels segment is estimated to be the largest application segment. The growth can be attributed to the increasing use of dynamic position (DP) vessels for offshore drilling by oil industries, which is bolstering the high growth of this segment.
Dynamic Positioning System Market Share: By Region
In terms of regions, Asia-Pacific dominated the market in 2018. It is anticipated that emerging economies, such as China and India will be the growth engines of the Asia-Pacific’s dynamic positioning systems market during the forecast period. The market is driven by the upsurge in the number of offshore patrol vessels and technological progressions, which are the prime drivers to propel the demand for dynamic positioning systems in the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players
The following are the key players in the Dynamic Positioning System Market-
• ABB Group,
• AB Volvo Penta,
• General Electric Company,
• Kongsberg Gruppen ASA,
• L-3 Communications Holdings, Inc.,
• Marine Technologies LLC,
• Navis Engineering,
• Praxis Automation & Technology B.V.,
• Rolls-Royce PLC,
• Wartsila Oyj ABP.
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Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
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