The report "Dynamic
Positioning System (DPS) Market by Subsystem (Power
Systems, Thruster Systems, DP Control Systems, and Sensors), Application
(Passenger Ship, Merchant Vessel, Offshore Vessel, and Naval Vessel), Equipment
Type, and Region - Global Forecast to 2021", The
dynamic positioning systems market is projected to grow from USD 1.62 Billion
in 2016 to USD 1.82 Billion by 2021, at a CAGR of 2.36% during the forecast
period. The base year considered for the study is 2015 and the forecast period
is from 2016 to 2021. Factors, such as increase in the number of offshore
patrol vessels, technological advancements, and expansion in oil & gas
refineries worldwide are expected to drive the dynamic positioning systems
market.
Browse
94 market data Tables and 94 Figures spread through 214 Pages and in-depth TOC
on "Dynamic Positioning System (DPS)
Market - Global Forecast to 2021"
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Based on equipment type,
the Class 3 segment of the dynamic positioning systems market is expected to
grow at the highest CAGR during the forecast period
Class 3 dynamic positioning
systems provide accurate location of a vessel as compared to other equipment
types. Manufacturing companies prefer Class 3 DP systems, as they are high
technologically advanced. This factor is expected to fuel the growth of the
Class 3 segment. Class 3 systems hold a vessel in its exact position where it
has to be even in extreme conditions, such as high tides, fire caused in the
vessel, among others.
Based on application, the
merchant vessels segment is expected to grow at the highest rate during the
forecast period
Based on application, the
merchant vessels segment of the dynamic positioning systems market is estimated
to grow at the highest CAGR during the forecast period. Increasing use of
dynamic position (DP) vessels for offshore drilling by oil industries is
fueling the growth of the merchant vessels segment.
Africa is projected to
grow at the highest CAGR during the forecast period
Africa is one of the
fastest-growing markets for dynamic positioning systems due to increase in the
end users of dynamic positioning systems. Africa’s economic development was
fueled by activities related to extraction of massive energy sources. Due to
the presence of a significant number of natural resources, various non-African
companies are willing to contribute towards the development of the African
maritime sector. The marine port will serve as a gateway for East African
landlocked countries, such as Uganda, Malawi, Rwanda, Burundi, Zambia, and the
Democratic Republic of Congo.
Major players in the dynamic
positioning systems market are General Electric Company (U.S.), Rolls-Royce
plc. (U.K.), ABB Group (Switzerland), L-3 Communications Holdings, Inc. (U.S.),
Wartsila Oyj Abp (Finland), and Kongsberg Gruppen ASA (Norway).
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