Global Dynamic Positioning System Market Size to Exceed USD 18.55 Billion by 2033: Forecast Analysis Report

Global Dynamic Positioning System Market Size to Exceed USD 18.55 Billion by 2033 

According to a research report published by Spherical Insights & Consulting, the Global Dynamic Positioning System Market Size Expected to Grow from USD 8.45 Billion in 2023 to USD 18.55 Billion by 2033, at a CAGR of 8.18% during the forecast period 2023-2033. 

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Dynamic Positioning System Market Size, Share, and COVID-19 Impact Analysis, By Sub-System (Power System, Thruster System, and DP Control System), By Sensors (Position Reference Sensors, Wind Sensors, Motion Sensors, and Gyro Compass), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

An advanced computer-controlled technology called dynamic positioning (DP) uses no anchors to automatically maintain a vessel's location and direction. This technology is especially important for offshore operations where deep waters or undersea obstacles make typical anchoring techniques impossible. Additionally, the market for dynamic positioning systems is anticipated to expand dramatically over the course of the forecast period for a number of reasons. Key factors include the growing emphasis on efficiency and safety, which fuels the need for dynamic positioning devices for maritime operations, and the rise in international seaborne trade are anticipated to propel the market for dynamic positioning systems. However, the adoption of dynamic positioning systems is hindered by factors including costly initial investment and operating expenses, and the market is predicted to develop less as a result of complicated systems that are challenging for novice operators to operate. 

The DP control system segment is expected to hold the largest share of the global dynamic positioning system market during the projected timeframe.                

The global dynamic positioning system market is segmented by sub-system into power system, thruster system, and DP control system. Among these, the DP control system segment is expected to hold the largest share of the global dynamic positioning system market during the projected timeframe. The hardware, software, and other systems that make up the system cooperate to maintain a vessel's position. It is predicted that the segment will rise during the forecast period due to the growing installation of DP systems in new builds and retrofits for vessels.

The position reference sensors segment is expected to grow at the fastest CAGR during the projected timeframe.       

Based on the sensors, the global dynamic positioning system market is categorized as position reference sensors, wind sensors, motion sensors, and gyro compass. Among these, the position reference sensors segment is expected to grow at the fastest CAGR during the projected timeframe. Their operational efficiency in determining the location of a vessel and movement in the horizontal direction is the reason for the rise. They are employed in dynamic positioning (DP) systems to automatically regulate the ship's sway and surge.

Asia Pacific is projected to hold the largest share of the global dynamic positioning system market over the forecast period.

Asia Pacific is projected to hold the largest share of the global dynamic positioning system market over the forecast period. One of the main factors propelling the market is the growth of seaborne trade in Asia Pacific. Furthermore, investments in the offshore shipping industry have significantly increased, especially in nations like China, India, and Japan. The need for DPS will increase as a result of these investments, which are intended to improve naval fleet capabilities and guarantee adherence to international maritime norms.

Europe is expected to grow at the fastest CAGR growth of the global dynamic positioning system market during the forecast period. Technological developments, more maritime activity, and rising defense spending are some of the elements driving this region's predicted highest rate of growth. Furthermore, operators are investing in markets as a result of the International Maritime Organization's (IMO) and other regulatory bodies' strict restrictions on environmental and safety standards.

Competitive Analysis

Major vendors in the global dynamic positioning system market are Navis Engineering, ABB Group, Elcome International LLC, Praxis Automation Technology B.V., A.B. Volvo, Rolls Royce PLC, Royal IHC, Wartsila, Thrustmaster of Texas, Kongsberg Gruppen, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global dynamic positioning system market based on the below-mentioned segments: 

Global Dynamic Positioning System Market, By Sub-System

• Power System
• Thruster System
• DP Control System

Global Dynamic Positioning System Market, By Sensors

• Position Reference Sensors
• Wind Sensors
• Motion Sensors
• Gyro Compass

Global Dynamic Positioning System Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa