Vessel positioning system facilitates accuracy in positioning and enables mooring & anchoring. The market for marine dynamic positioning system was valued at $1,594 million in 2015, and is expected to reach $2,127 million in 2022, growing at a CAGR of 3.8%
Dynamic positioning system (DPS) is a computer-controlled system installed in ships to maintain its position in the water body. The system utilizes thrusters, propellers, and rudders to withstand external forces such as wind, waves, and water current. It ensures the safety and security of vessels by maintaining the positioning accuracy and improves stability. Redundancy is the ability of a system to retain its functions in case of single failure or fault, which is a crucial factor considered while choosing the appropriate DPS for ships. The equipment class of a DPS is defined based on its redundancy. According to the standards of International Maritime Organization (IMO), the dynamically positioned ships are:
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Marine Dynamic Positioning System Market KEY COMPANIES, , ABB, AB Volvo Penta, General Electric Co., Kongsberg Gruppen ASA, Marine Technologies LLC, Moxa Inc., Navis Engineering Oy, Praxis Automation, Rolls-Royce PLC, Wartsila Corporation, Guidance Marine, JRC, Master Boat Builders Inc., RH Marine, Thrustmaster of Texas, Inc.
The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.
In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.
It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.
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Furthermore, the marine dynamic positioning system helps in automatically maintaining the position of vessels using subcomponents such as thrusters, control unit, and power management system. The dynamic positioning system market is segmented based on subsystem, equipment class, application, and geography. By subsystem, the dynamic positioning system market is categorized into control systems, power systems, thruster systems, and others. The equipment class includes class1, class 2, and class 3 systems. Applications covered in the study include naval vessels, offshore vessels, and others.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (including country-level analysis for each region).
KEY BENEFITS
The report provides an in-depth analysis of the marine dynamic positioning system market across major geographies and the estimated revenues generated during the forecast period.
The entire projections in the report are based on analysis of the current trends that highlight the market potential for the period of 2016-2022, in terms of value.
The report conducts extensive analysis by closely following key product positioning and monitoring the top contenders within the market framework.
The report also provides quantitative and qualitative trends to help the stakeholders to understand the situations prevailing in the market.
MARINE DYNAMIC POSITIONING SYSTEM SEGMENTATION
BY SUBSYSTEM
Control System
Power System
Thruster System
Others (Sensing Systems and Measurement Systems)
BY EQUIPMENT CLASS
Class 1
Class 2
Class 3
BY APPLICATION
Naval Vessels
Offshore Vessels
Others (Commercial and Passenger)
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BY GEOGRAPHY
NORTH AMERICA
Canada
Mexico
U.S.
EUROPE
Germany
Netherlands
UK
Rest of Europe
ASIA-PACIFIC
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Africa
Latin America
Middle East
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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