Industry Trends

Dynamic Positioning System (DPS) is used for positioning marine vessels in the sea within a predefined limit. It is a computer-controlled system that includes thrusters, and position reference/units. The dynamic position systems primarily work on the principle of propulsion to work against the effects of displacing wave, current and wind action. Their demand has grown over the years owing to the necessity of keeping the vessel essentially in a fixed heading and position during offshore activities. The application of DP systems is principally useful in maintaining fixed position or track keeping during offshore activities in support vessels, drilling vessels, pipe laying and construction vessels, dredging vessels and shuttle tankers.

The Global Dynamic Positioning System (DPS) Market was valued at USD 1754.98 Mn in 2017 and is expected to reach US$ 1979.68 by 2022.

Global Dynamic Positioning System Market, By Application, 2017 & 2022 (US$ Million)

In order to meet consumer demands and the growing industrialization and technological advancements, the deep-sea offshore activities are increasing. However, the adverse aftereffects of these activities are growing as well, pertaining to inattentive usage and inconsistent control. Consequently, the regulation framework holds an important place in managing the DPS and their associated issues. For example, the Dynamic Positioning Vessel Owners Association (DPVOA) was formed in 1990 by a group of consultants. The DPVOA is responsible for the development of the maritime safety committee circular 645 along with the International Maritime Organization (IMO) based on relevant incidents associated with DPS and the information collected. In 1995, the DPVOA merged with the international association of diving contractors (AODC) to form IMCA. Since then, the International Marine Contractors Association (IMCA) is considered as a one of the major dynamic positioning regulatory frameworks.

Dynamic Positioning System Market, By Product

On the basis of product, class I dynamic positioning system (DPS) accounts for the largest market share in 2017. In class I systems operations are controlled within a single design requirement. These systems require a single DP computer with centralized and independent manual position control. There can be a loss of position during a single fault event. These systems deliver simple backups for majority of the components and changeover of control requires manual intervention. However, in Class I operations, loss of position keeping capability is not considered to cause personnel injury, pollution, or damage with large economic consequences. Hence, the volume of Class I DPS is high as compared to other products.

Dynamic Positioning System Market, By Region

In terms of revenue, Asia Pacific constituted the largest market for Dynamic Positioning System in 2017. Dynamic positioning system vessels for offshore drilling by oil industries in Asia Pacific region is the major factor behind the growth of the market in this region. In addition, it is anticipated that the demand for class-III dynamic positioning equipment will grow over the coming years in this region. Moreover, China, Japan, and South Korea are fastest-growing economies and the increase in the number of dynamic position vessels like survey vessels, drilling ships, supply vessels, diving support vessels and many more, in this region is boosting the overall market growth.

Competitive Landscape

The report provides both, qualitative and quantitative research of the market, along with the favored development methods that are adopted by the key contenders. Dynamic positioning system also offers extensive research on the key players in this market and detailed insights into the competitiveness of these players. The key business strategies such as mergers & acquisitions (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their corporate headquarter, competitors, product/service type, application and specification, pricing, and gross margin.

Some of the primary market participants areKongsberg Gruppen ASA, General Electric, Wartsila Oyj ABP, ABB, Rolls-Royce, Navis Engineering, Marine Technologies, LLC, Praxis Automation Technology, Mitsui Engineering & Shipbuilding, and Guidance Marine amongst others.

Global Dynamic Positioning System Industry Background



