Press release
Global Dynamic Positioning Systems Market to Reach $10.66 Billion by 2029, Growing at 9% CAGR
Dynamic Positioning Systems Market
The global surge in seaborne commerce is fuelling the expansion of the dynamic positioning systems market. Characterized by low-cost transportation of goods through the sea in sizable quantities, the seaborne trade uses containers that can be reused for road or rail transportation. The dynamic positioning system onboard ships allows them to hold their position even under poor weather conditions. The system's computer collects data from position reference sensors, providing information on the ship's location and how external factors are impacting it. The Switzerland-based intergovernmental organization, United Nations Conference on Trade and Development (UNCTD), forecasts a 2.4% growth in maritime trade by 2023, and over 2% between 2024 and 2028. However, full decarbonization by 2050 will require significant investments, potentially leading to higher maritime logistics costs. Consequently, the upswing in global seaborne trade is propelling the dynamic positioning systems market.
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What is the projected compound annual growth rate (CAGR) of the dynamic positioning systems market from 2025 to 2034, and what factors influence it?
In recent times, there has been significant growth in the market size of dynamic positioning systems. The market, which was valued at $7.15 billion in 2024, is projected to increase to $7.62 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.5%. This growth observed in the historical period is primarily due to factors like marine exploration, offshore energy industry growth, requirement for precision and safety, augmented deepwater exploration activities, and commercial shipping requirements.
The market size for dynamic positioning systems is poised for robust expansion in the upcoming years, growing to $10.66 billion in 2029 with a compound annual growth rate (CAGR) of 8.8%. This growth anticipated over the forecast period can be linked to the heightened activities in offshore renewable energy generation, offshore infrastructure construction, and autonomous vessels' proliferation. Other contributing factors include concentrations on environmental sustainability, maritime safeguarding, and risk reduction. Key forecasting periods trends encompass attention to operational effectiveness, ongoing research and innovative strides, market penetration into emerging economies, operational cost-effectiveness, and industry collaboration and partnerships.
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How are the latest trends influencing the growth of the dynamic positioning systems market?
The dynamic positioning systems market is greatly influenced by the trend of technological progress. To gain an industry advantage, leading companies are focusing on innovating dynamic positioning systems to create a more precise and effective positioning solution. For example, Mitsui O.S.K. Lines Ltd., a transport company based in Japan, along with MOL Marine & Engineering Co., Ltd., a Japan-based firm that provides specialized maritime consulting services, stated in March 2022 that a Dynamic Positioning (DP) Simulator featuring a Dynamic Positioning System (DPS) will be installed on the ground floor of the MOL Head Office in June. The simulator will offer complex Dynamic Positioning Training for special purpose DP vessels for a variety of offshore development initiatives, including Cable-laying Ships and Offshore Wind Power Projects.
What are the major segments of the dynamic positioning systems market and their role in driving growth?
The dynamic positioning systems market covered in this report is segmented -
1) By Equipment Type: Class 1, Class 2, Class 3
2) By Component: Power System, DP Control System, Thruster System
3) By Application: Passenger Vessels, Merchant Vessels, Platform Supply Vessels Or Offshore Support Vessels, Naval Vessels And Operations
4) By End Use: OEM, Aftermarket
Subsegments:
1) By Class 1: Positioning Systems For Offshore Supply Vessels, Basic DP Systems With Manual Backup
2) By Class 2: Positioning Systems For Drilling Units, Enhanced DP Systems With Automated Backups
3) By Class 3: Positioning Systems For Critical Operations, Fully Redundant DP Systems With No Manual Backup
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Which regions are key players in the growth of the dynamic positioning systems market?
North America was the largest region in the dynamic positioning systems market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dynamic positioning systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the dynamic positioning systems market?
Major companies operating in the dynamic positioning systems market are Kongsberg Gruppen AS, Praxis Automation Technology B.V., Norr Systems Pte. Ltd., ABB Ltd., Marine Technologies LLC, Wärtsilä Oyj Abp, Rolls-Royce Holdings PLC, RH Marine Group, Twin Disc Incorporated, Koninklijke IHC, Reygar Ltd., Sonardyne International Ltd., Navis Engineering LLP, Advanced Navigation Pty Ltd., Teledyne Technologies Inc., Applanix Corporation, C-Nav Positioning Solutions, Alphatron Marine BV, L3Harris Technologies Inc., Wartsila Guidance Marine BV, Thrustmaster of Texas Inc.
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What Is Covered In The Dynamic Positioning Systems Global Market Report?
• Market Size Forecast: Examine the dynamic positioning systems market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the dynamic positioning systems market for a structured understanding.
• Key Players Overview: Analyze major players in the dynamic positioning systems market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the dynamic positioning systems market.
• Segment Contributions: Evaluate how different segments drive overall growth in the dynamic positioning systems market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the dynamic positioning systems market.
• Industry Challenges: Identify potential risks and obstacles affecting the dynamic positioning systems market.
• Competitive Landscape: Review strategic developments in the dynamic positioning systems market, including expansions, agreements, and new product launches.
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