How Has the Marine Dynamic Positioning System Market Size Evolved in Recent Years?
The marine dynamic positioning system market has seen considerable growth due to a variety of factors.
• In recent times, there has been a swift expansion in the market for marine dynamic positioning system. The market worth is predicted to surge from $4.53 billion in 2024 to $5.06 billion in 2025, registering a compound annual growth rate (CAGR) of 11.8%.
This escalation during the historical period is due to factors such as the amplification in global maritime commerce, an uptick in offshore oil and gas exploration, the burgeoning offshore wind energy sector, the growth of offshore wind farms, and the implementation of stringent maritime regulations.
What Is The Forecast For The Marine Dynamic Positioning System Market Size?
The marine dynamic positioning system market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, a swift expansion is predicted for the marine dynamic positioning system market. It's poised to reach $7.79 billion in 2029 with a compound annual growth rate (CAGR) of 11.4%.
The surge during the forecast period can be traced back to a rise in dynamic positioning ships like survey and research vessels, increasing demand for renewable energy, the intensifying call for unmanned surface vehicles, escalation in maritime transportation, and the surging focus on safety. Notable trends ducing this period encompass breakthroughs in offshore drilling technology, technological evolutions, autonomy in operations, cloud-based connectivity, and the computation of machine learning algorithms.
What Are The Essential Drivers Behind The Growth Of The Marine Dynamic Positioning System Market?
The progression of marine dynamic positioning system market is anticipated to be fueled by the rise in offshore construction activities. These activities constitute diverse schemes and procedures carried out in large bodies of water, primarily oceans, focusing on the creation, setup, or maintenance of structures such as oil rigs, pipelines, bridges, and other sea-based infrastructure. The amplification of offshore construction events is prompted by growing renewable energy endeavors and technological progression facilitating elaborate applications in deeper waters. Dynamic positioning (DP) systems offer the versatility required in navigating vessels and equipment, permitting them to function in various locations and environments with no requirement for fixed anchor spots. They also ensure vessels keep a safe gap from offshore structures and other vessels, thereby mitigating potential accidents or destruction. In a report published by the Office of Energy Efficiency and Renewable Energy of USA, in August 2023, it revealed that offshore wind pipelines in 2022 will achieve a capacity of 40,083 megawatts (MW), marking a growth of 13.5% from the preceding year. Consequently, the rise in offshore construction activities is propelling the growth of the marine dynamic positioning system market.
How Is The Global Marine Dynamic Positioning System Market Divided Into Key Segments?
The marine dynamic positioning system market covered in this report is segmented –
1) By Type: Thruster Systems, Dynamic Positioning (DP) Control Systems, Sensors, Power Systems
2) By Application: Station Keeping, Maneuverability And Navigation, Dynamic Positioning Autonomy
3) By End-User Industry: Oil And Gas, Renewable Energy, Research And Survey
Subsegments:
1) By Thruster Systems: Azimuth Thrusters, Tunnel Thrusters, Retractable Thrusters, Waterjet Thrusters
2) By Dynamic Positioning (DP) Control Systems: DP Class 1 (DP
1), DP Class 2 (DP
2), DP Class 3 (DP
3), Integrated DP Systems
3) By Sensors: Gyroscopes, GNSS (Global Navigation Satellite System) Sensors, Wind Sensors, Motion Sensors, Environmental Sensors
4) By Power Systems: Diesel Electric Power Systems, Battery Energy Storage Systems, Power Distribution Units, Power Conversion Equipment
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What Trends Are Shaping The Marine Dynamic Positioning System Market?
Key players in the marine dynamic positioning system market are adopting cutting-edge technologies like dynamic positioning (DP) simulators to enrich the skills and proficiency of DP operators. These simulators offer practical training environments mirroring different seafaring conditions and situations. This enables operators to refine their abilities, improve decision-making skills, and get acquainted with DP systems and protocols in a secure, regulated environment. For instance, in March 2022, Japan-based Mitsui O.S.K. Lines Ltd. (MOL) and MOL Marine & Engineering Co. Ltd. equipped their head office with a DP Simulator along with a Dynamic Positioning System (DPS). This simulator will function as a training resource for MOL employees of cable-laying ships and associated engineers. Moreover, they intend to broaden DP training courses to clients and devise personalized training for a range of offshore development vessels, including those for offshore wind power projects. In addition, the group will offer research and consultation services for port and harbor enhancement initiatives, navigation safety solutions, and marine construction safety guidelines.
Who Are the Key Players In The Marine Dynamic Positioning System Market?
Major companies operating in the marine dynamic positioning system market are:
• General Electric Company
• The Volvo Group
• General Dynamics Corporation
• Siemens Energy AG
• ABB Ltd.
• L3Harris Technologies Inc.
• Rolls-Royce plc
• Wärtsilä Corporation
• Kongsberg Gruppen ASA
• Japan Radio Company (JRC)
• Mercury System Inc.
• Norr Systems Hydraulics Pte. Ltd.
• RH Marine Corp.
• Grid Dynamics Holdings Inc.
• AquaTech India Pvt. Ltd.
• Thrustmaster of Texas Inc.
• Master Boat Builders Inc.
• Praxis Automation Technology B.V.
• AquaGuard Positioning
• C-MAR Group
• Navis Engineering Oyj
• BlueWave Products Inc.
• Vision Marine Technologies LLC
• Seaquest Marine Resources Private Limited
• SeaNav Technologies Pvt. Ltd.
• Reygar Ltd.
What Are The Regional Insights Into The Marine Dynamic Positioning System Market?
Asia-Pacific was the largest region in the marine dynamic positioning system market in 2024. The regions covered in the marine dynamic positioning system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
