Global Dynamic Positioning Systems Market Boosted by Increasing Number of Dynamic Position Vessels

Dynamic positioning systems are used to automatically maintain a vessel’s position by using its own propellers and thrusters. Dynamic positioning systems allow a vessel to maintain its balance automatically. All vessels installed with computer-driven dynamic positioning systems have the capacity to operate with safety, positioning accuracy, and reliability. This is the reason why dynamic positioning systems are popular across the globe and are used by various industries. 

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The presence of subsea structures previously installed on the seabed may restrict the deployment of dynamic positioning systems. However, increasing use of dynamic positioning systems in combination with anchoring and mooring to form position-mooring systems is expected to propel the global dynamic positioning systems market during the period from 2015 to 2022. Entry of new companies with innovative dynamic positioning vessels will boost the global market for dynamic positioning systems. 

Variety of Dynamic Position Vessels to Drive Global Market

Since 2014, the global dynamic positioning systems market has been experiencing rapid growth due to the availability of a variety of dynamic positioning vessels. Supply vessels, drilling ships, survey vessels, diving support vessels, and others are some of the dynamic positioning vessels available in the global market. Usage of various types of vessels for offshore drilling and technological advancements in the same is expected to boost the global dynamic positioning systems market during the forecast period. The use of dynamic positioning systems in offloading vessels and floating production storage is expected to create growth opportunities for the global market. 

The global dynamic positioning systems market is segmented on the basis of region, application, reference system, sub-system, and equipment type. Based on equipment type, the global dynamic positioning systems market is classified into class 1, class 2, and class 3. By sub-system, the global dynamic positioning systems market is divided into power systems, control systems, sensor systems, and thruster systems. Taut wire, Artemis, laser-based systems, and differential global positioning systems are some of the segments of the dynamic positioning systems market by reference system. 

With Rising Maritime Trade, Asia Pacific to be the Major Contributor

By region, the global dynamic positioning systems market is divided into Asia Pacific, Latin America, the Middle East and Africa, Europe, North America, and Rest of the World. Asia Pacific dominated the global dynamic positioning systems market in 2014 due to the rising maritime trade in the region and increasing deep-sea excavations. The increasing need for safety operations through deep ocean water during offshore gas and oil operations is expected to accelerate the development of the dynamic positioning systems market in the Asia Pacific region by 2022. 

Rolls-Royce PLC, Kongsberg Gruppen ASA, General Electric Co., Navis Engineering Oy, Praxis Automation and Technology B.V., Marine Technologies LLC, L-3 Communications corp., NORR Systems Pvt. Ltd., and AB Volvo Penta are some of the leading companies in the global dynamic positioning systems market. With many emerging players entering the market, the leading companies are expected to face high level of competition during the period from 2015 to 2022. Introduction of different dynamic position vessels by the prominent players will drive the global dynamic positioning systems market during the forecast period. Based on application, the global dynamic positioning systems market is classified into merchant vessels, offshore vessels, passenger ships, and naval vessels. 

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