Global Boat Dynamic Positioning System Market Size, Share, and COVID-19 Impact Analysis, By Type (Class 1, Class 2), By Application (Passenger Boat, Merchant Boat), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Industry: Automotive & Transportation

RELEASE DATE Nov 2024
REPORT ID SI7186
PAGES 218
REPORT FORMAT PathSoft

Global Boat Dynamic Positioning System Market Insights Forecasts to 2033

  • The Global Boat Dynamic Positioning System Market Size was Valued at USD 1.4 Billion in 2023
  • The Market Size is Growing at a CAGR of 6.05% from 2023 to 2033
  • The Worldwide Boat Dynamic Positioning System Market Size is Expected to Reach USD 2.52 Billion by 2033
  • Asia Pacific is Expected to Grow the fastest during the forecast period.

 

Global Boat Dynamic Positioning System Market

Get more details on this report -

Request Free Sample PDF

The Global Boat Dynamic Positioning System Market Size is Anticipated to Exceed USD 2.52 Billion by 2033, Growing at a CAGR of 6.05% from 2023 to 2033. The offshoring of activities because of increased marine technology upgrades is expected to provide the boat dynamic positioning system (DPS) market with high growth. The placement of innovations in the forefront by prime manufacturers aims to enhance vessel security and operational efficiency. For such reasons, the expansion of the market is more than likely to be significant with an increase in demand for accurate positioning in renewable sources and offshore exploration.

 

Market Overview

DPS is simply the boat dynamic positioning technology that can hold a position and head on a vessel only with propellers or thrusters; it involves critical operations. This encompasses offshore drilling, marine research, or other naval-related operations. Operating with an understanding of information provided in real-time by a variety of sensors and even GPS enables a station-keeping vessel to be where it belongs, without ever needing its manual anchors due to various challenging marine conditions. Offshore exploration for oil and gas continues to increase, where requests from the construction and renewable energy sectors have also provided stimulus, along with gains in marine technology. Furthermore, these systems monitor environmental parameters including wind, current, and waves as well as the location of the boat by a network of sensors. The DP system continuously adjusts propeller thrust or thruster thrust to keep the boat generally within the assigned location. A number of different types of DP systems are available commercially, and they could be adapted to handle different levels of operation complexity and redundancy, from very simple to extremely complex configurations.

 

Addressing the various tiers of demand for DPS systems. Class 1 is less sophisticated and therefore ideal for low-risk operations and captures the cost-sensitive end of the market, where vessels operate in relatively benign, stable conditions. Class 2 DPS provides redundancy and other safe-guards needed for high-risk or complex operations, such as adverse conditions, and so are critical for sectors like offshore energy.

 

Opportunities and Trends in the Boat Dynamic Positioning System Market:

The boat dynamic positioning system (DPS) market is driven by several key opportunities and trends. Offshore wind and renewable energy expansion are driving DPS demand for stable vessel positioning, which is crucial in constructing and maintaining offshore installations. Technological advancements in automation and AI are improving system precision and efficiency, lowering fuel use, and enhancing performance for unmanned vessels. Stricter maritime safety regulations globally are also encouraging DPS adoption across vessel types, from passenger ships to cargo and industrial vessels. The trend toward hybrid and electric propulsion further supports DPS integration, helping meet environmental standards and boosting overall operational sustainability.

 

Challenges in the Market for the Boat Dynamic Positioning System Market:

The higher installation and maintenance costs scare off the smaller operators, which deters the market growth. The system's complexity along with the requirement of expert personnel to operate DPS limits its adoption. In addition, the market faces regulatory hurdles as standards evolve, and fluctuating demand in the offshore sector impacts constant growth.

 

Report Coverage

This research report categorizes the global boat dynamic positioning system market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global boat dynamic positioning system market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global boat dynamic positioning system market.

 

Global Boat Dynamic Positioning System Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 1.4 Billion
Forecast Period:2023 - 2033
Forecast Period CAGR 2023 - 2033 :6.05%
2033 Value Projection:USD 2.52 Billion
Historical Data for:2019-2022
No. of Pages:218
Tables, Charts & Figures:121
Segments covered:By Type, By Application, By Region and COVID-19 Impact Analysis.
Companies covered::Kongsberg, Mitsui Engineering, Undheim, Praxis, Guidance Navigation, Navis Engineering, NAUDEQ., XENTA, TWIN DISC, Alphatron Marine, and other key vendors.
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

Get more details on this report -

Request Free Sample PDF
 

Driving Factors

Growth drivers in the market for DPS in boats include heightened demand for offshore exploration and renewable energy projects and accurate positioning of vessels in harsh conditions. As maritime industries pick up, especially with projects in offshore wind and deep-sea exploration, DPS offers necessary control and safety features in maintaining vessel stability. Such technological advancements as better automation, enhanced thruster controls, and strong environmental sensors also boost the adoption. Besides, international regulatory standards adopted by IMO and classification societies, such as ABS require, advanced DPS in offshore environments for safety and efficiency in operations.

 

Restraining Factors

Restraining factors in the DPS market are huge initial investment and maintenance costs, which might not attract small operators or industries with tight budgets. Strict standards on the DPS technology by the government can delay implementation as lengthy certification processes can take much time. Demand may also vary with offshore sectors like oil and gas due to fluctuations in economic conditions in such industries. 

 

Market Segmentation

The global boat dynamic positioning system market share is classified into type and application.

  • The class 2 segment is expected to hold the largest share of the global boat dynamic positioning system market during the forecast period.            

 Based on type, the global boat dynamic positioning system market is categorized as class 1, class 2. Among these, the class 2 segment is expected to hold the largest share of the global boat dynamic positioning system market during the forecast period.  The key area of increasing demand for Class 2 DPS occurs in complex offshore projects that include deep-sea mining, which requires reliability and redundancy for large-scale renewable energy installations. Class 2 DPS offers safety with sophistication high enough to meet tough standards, especially regulatory ones and difficult marine conditions. Additionally, the increasing focus on maintaining efficient operation and avoidance of costly downtime is why companies also choose Class 2 DPS because they prefer systems that help avoid risk, along with continued stable operations.

 

  • The merchant boat segment is expected to grow at the fastest CAGR during the forecast period.      

Based on the application, the global boat dynamic positioning system market is categorized as passenger boat and merchant boat. Among these, the merchant boat segment is expected to grow at the fastest CAGR during the forecast period.  This growth can be attributed to increased international trade and shipping that necessitate high levels of a positioning security system on such vessels to ensure safety, more so in busy ports and through treacherous maritime routes. Cargo and freighters have also gradually increased adoption of higher DPS levels technology since this entails docking in the minimum possible times while saving on fuel; all this meets stringent security expectations placed on the mercantile fleets through burgeoning demand in the mercantile sector.   

 

Regional Segment Analysis of the Global Boat Dynamic Positioning System Market

  • North America (U.S., Canada, Mexico) 
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of APAC)
  • South America (Brazil and the Rest of South America) 
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is projected to hold the largest share of the global boat dynamic positioning system market over the forecast period.

 

North America

Get more details on this report -

Request Free Sample PDF

North America is projected to hold the largest share of the global boat dynamic positioning system market over the forecast period. The growth of this market is supported by a huge demand for high DPS technology in the operation of oil and gas offshores in the Gulf of Mexico, which requires considerable amounts of marine activities at very high accuracy positioning of the vessel. Onshore, North America is investing in more renewable energy resources and placing most of these resources offshore, thereby enhancing the need for DPS. A high manufacturing base and tight safety regulations among other things give it a stronghold in the market. Additionally, government initiatives that encourage renewable energy projects have hastened offshore wind deployments, which necessitate precise positioning capabilities, a critical feature of dynamic positioning systems.

 

Asia Pacific is expected to grow at the fastest CAGR growth of the global boat dynamic positioning system market during the forecast period. The growth in this region is boosted by a growing number of offshore oil and gas exploration projects coupled with the increased numbers of offshore wind farms across nations such as China, India, and Australia. This is further bolstered by increased investment in maritime infrastructure and increased regional trade activity, which contributes to advanced DPS solutions demand. In addition, vessel automation advances and more stringent safety regulation further support growth.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global boat dynamic positioning system market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Kongsberg
  • Mitsui Engineering
  • Undheim
  • Praxis
  • Guidance Navigation
  • Navis Engineering
  • NAUDEQ.
  • XENTA
  • TWIN DISC
  • Alphatron Marine
  • Others   

 

Key Market Developments

  • In November 2023, Dockmate, a provider of wireless remote controls for yachts, announced the addition of a new function to their wireless remote-control systems called Dockmate positioning system (DPS).

 

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 boat dynamic positioning system market based on the below-mentioned segments: 

 

Global Boat Dynamic Positioning System Market, By Type

  • Class 1
  • Class 2

 

Global Boat Dynamic Positioning System Market, By Application

  • Passenger Boat
  • Merchant Boat

 

Global Boat 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

Frequently Asked Questions (FAQ)

  • 1. What is the CAGR of the global boat dynamic positioning system market over the forecast period?
    The global boat dynamic positioning system market size is expected to grow from USD 1.4 billion in 2023 to USD 2.52 billion by 2033, at a CAGR of 6.05% during the forecast period 2023-2033.
  • 2. Which region is expected to hold the highest share of the global boat dynamic positioning system market?
    North America is projected to hold the largest share of the global boat dynamic positioning system market over the forecast period.
  • 3. Who are the top key players in the global boat dynamic positioning system market?
    Kongsberg, Mitsui Engineering, Undheim, Praxis, Guidance Navigation, Navis Engineering, NAUDEQ., XENTA, TWIN DISC, Alphatron Marine, and others.
  • 1. What is the CAGR of the global boat dynamic positioning system market over the forecast period?
    The global boat dynamic positioning system market size is expected to grow from USD 1.4 billion in 2023 to USD 2.52 billion by 2033, at a CAGR of 6.05% during the forecast period 2023-2033.
  • 2. Which region is expected to hold the highest share of the global boat dynamic positioning system market?
    North America is projected to hold the largest share of the global boat dynamic positioning system market over the forecast period.
  • 3. Who are the top key players in the global boat dynamic positioning system market?
    Kongsberg, Mitsui Engineering, Undheim, Praxis, Guidance Navigation, Navis Engineering, NAUDEQ., XENTA, TWIN DISC, Alphatron Marine, and others.

Need help to buy this report?

Inquiry Before Buy
We'll use cookies to improve and customize your experience if you continue to browse. Is it OK if we also use cookies to show you personalized ads?
Learn more and manage your cookies
Yes, Accept Cookies