Dynamic Positioning System Market Dynamics, Size, and Growth Trend 2018-2028
Dynamic Positioning System (DPS) refers to a computer-controlled system that maintains a vessel’s position and heading using thrusters, propellers, and rudders. This system is commonly used in offshore drilling, exploration, and production operations, as well as in marine transportation, research vessels, and cruise ships.
The Global Dynamic Positioning System Market is expected to grow significantly in the coming years due to the increasing demand for offshore exploration and production activities. According to a report by HTF MI, the global Dynamic Positioning System market size was valued at USD 1.5 billion in 2020 and is expected to reach USD 1.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 3.45% during the forecast period.
Get Detailed Overview of Report @ https://www.htfmarketintelligence.com/report/global-dynamic-positioning-system-market
The report cites several factors driving market growth, including the increasing demand for oil and gas, the rising offshore exploration and production activities, and the increasing need for efficient vessel operations. In addition, technological advancements in DPS, such as the development of dynamic positioning sensors, advanced control systems, and redundancy systems, are also driving market growth.
Global Dynamic Positioning System Market Breakdown by Application (Mobile Offshore Drilling Units (MODU), Ships, Platform Supply Vessels (PSVs), Shuttle Tankers, Others) by Type (DP 1, DP 2, DP 3, Others) by Component (Control Systems, Power Generation, Thrusters and Propulsion, Environmental Reference, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Some of the key players in the Dynamic Positioning System market include Kongsberg Maritime (United Kingdom), Struthers Oil & Gas Corp (United States), SeaZip Offshore Service BV (United Kingdom), Inside Marine (United Kingdom), Hybrid Marine (United Kingdom), ComNav Marine (Canada), Sonardyne Inc. (England), Hemisphere GNSS (Arizona), Star-Tech Marine Electronics, Inc. (United States), London Offshore Consultants (United Kingdom). These companies are investing heavily in research and development to enhance their DPS offerings and gain a competitive edge in the market.
Overall, the Dynamic Positioning System market is expected to experience steady growth in the coming years, driven by the increasing demand for offshore exploration and production activities and the need for efficient vessel operations.
About Us:
HTF Market Intelligence is a leading market research company providing end-to-end syndicated and custom market reports, consulting services, and insightful information across the globe. HTF MI integrates History, Trends, and Forecasts to identify the highest value opportunities, cope with the most critical business challenges and transform the businesses. Analysts at HTF MI focuses on comprehending the unique needs of each client to deliver insights that are most suited to his particular requirements.
Contact Us:
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 4342990043/ +1 4343220091
