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Global Dynamic Positioning Systems Market Outlook - Estimated Market Size, Growth And Forecast To 2032 | Moxa Inc., Kongsberg Gruppen, Praxis Automation Technology B.V., General Electric, Norr Systems Pte Ltd
Dynamic Positioning Systems Market
The Business Research Company's Dynamic Positioning Systems Global Market Report 2023 identifies increase in seaborne trade globally as the major driver for the Dynamic Positioning Systems market's growth in the forecast period. 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 global dynamic positioning systems market size is expected to grow from $6.31 billion in 2022 to $6.80 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The dynamic positioning systems market is expected to grow to $9.06 billion in 2027 at a CAGR of 7.5%.
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Major competitors in the Dynamic Positioning Systems market are Moxa Inc., Kongsberg Gruppen, Praxis Automation Technology B.V., General Electric, Norr Systems Pte Ltd.
A key trend in the Dynamic Positioning Systems market includes technological advancement. 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.
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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
5. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Dynamic Positioning Systems market.
The Business Research Company's "Global Dynamic Positioning Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Dynamic Positioning Systems Market Include:
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
……
26. Africa Dynamic Positioning Systems Market
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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