Marine Dynamic Positioning System Market advantages include increased productivity, cost savings, and environmental friendliness. Due to the demand for cutting-edge positioning and navigation systems for marine vessels, the market for marine dynamic positioning systems is expanding significantly. Dynamic positioning systems give ships continuous, dependable navigational and positioning capabilities, facilitating safe and effective maritime operations. Operators can precisely maneuver vessels in a variety of water conditions thanks to the systems' accurate positioning information. The market for marine dynamic positioning systems is expanding due to the increasing demand for safe navigation, particularly for offshore operations of vessels.
By automatically adjusting the position and heading of the ship, dynamic positioning systems improve the safety of maritime operations. By eliminating the need for manual control of the ship, lowers the possibility of human error. Dynamic positioning systems can lower fuel consumption and boost operational effectiveness by automating the vessel's position and heading. Dynamic positioning systems' increased efficiency and the automation of some ship operations can both lower operational costs overall. For precise operations like offshore drilling, dynamic positioning systems can provide extremely accurate vessel positioning and heading. The negative effects of marine operations on the environment can be lessened with automated vessel control and the increased effectiveness brought on by dynamic positioning systems.
The global marine dynamic positioning system market was valued at $5.6 billion in 2020 and is expected to grow at a CAGR of 12.5% from 2021 to 2030, reaching $17.6 billion by 2030.
High positioning accuracy and repeatability, control over a ship's heading and course, and increased safety for people and cargo are the main benefits of using dynamic positioning systems. These systems also provide automated control of the ship's speed and heading, allowing vessels to operate in areas with strong currents and bad weather. DPS can be used to steer ships in shallow water so they can approach and dock at other ships and offshore platforms.
The growing demand from the marine industry for dependable and effective maritime navigation and control systems is the main factor propelling the market for marine dynamic positioning systems. Dynamic positioning systems, which offer automated and accurate navigation and position control, are in higher demand due to the need for increased safety and operational efficiency. This is so that a vessel's precise position and heading can be maintained despite difficult sea conditions. The market is also being driven by the rising demand for maritime operations such as offshore oil and gas exploration, cargo transportation, and the use of marine vessels for scientific research. The demand for dynamic positioning systems is also anticipated to increase as a result of technological developments in automation, such as the creation of autonomous ships, as these systems are a crucial component of automated navigation systems.
The market for dynamic positioning systems for ships, vessels, and other watercraft is known as the marine dynamic positioning systems market. Even in the presence of strong currents or winds, a vessel can maintain a stable position thanks to dynamic positioning systems. These systems maintain the vessel in place while utilizing thrusters, propellers, and mooring systems to enable it to carry out tasks like anchoring, mooring, or towing operations. The market for marine dynamic positioning systems is made up of service providers who install and maintain the systems as well as manufacturers of hardware and software used in dynamic positioning systems.
Marine dynamic positioning systems can be expensive to operate and maintain, and they require a sizable initial investment. Dynamic positioning system operation calls for a high level of expertise and knowledge. Inexperienced operators may find it challenging to use the system efficiently. Operating dynamic positioning systems requires a significant amount of power, which can be problematic in remote areas or on smaller vessels. Dynamic positioning systems, like any complex system, are susceptible to technical problems that can be expensive and difficult to fix. When it comes to noise pollution, the use of dynamic positioning systems can be harmful to the environment.
ABB, Kongsberg Maritime, Wärtsilä, C-MAP, Furuno, Sperry Marine, Raytheon Anschütz, Yokogawa Electric Corporation, Rockwell Automation, and Trimble Marine Construction are the leading market participants in the marine dynamic positioning system market. Software
The thrust system is increasing
One of the Marine Dynamic Positioning System subtypes that are currently expanding the most is the thruster system. By regulating the force and thrust of a ship's propellers, this system keeps a ship's position, heading, and speed constant. Thruster systems are becoming more and more common as a result of their capacity to offer precise control, as well as an increase in efficiency and a decrease in emissions. These systems are also becoming more accessible and affordable, making them a desirable option for a variety of vessels.
Commercial vessel usage is expanding quickly.
From 2021 to 2026, the market for marine dynamic positioning systems is anticipated to expand at a CAGR of 7.3%. The demand for unmanned and automated ships is increasing, along with safety regulations that have been tightened up, an offshore activity that has increased, and the market for marine dynamic positioning systems. The commercial vessels segment is predicted to have the biggest market share over the forecast period. This is a result of the growing demand for cargo, ferry, and cruise ships as well as the desire for efficient navigation systems for these ships. Additionally, the rise in passenger ships like cruise liners is fueling a demand for dynamic positioning systems for these boats.
North America is in control.
In terms of the worldwide market for marine dynamic positioning systems in 2019, North America accounted for more than 40% of the market. The demand for marine dynamic positioning systems in the region is being driven by the rising need for energy security and the growing emphasis on the development of green technologies. Furthermore, the market in North America is anticipated to grow as a result of rising demand for safe navigation and offshore oil and gas drilling operations.
Impact of Covid 19 on the Market for Marine Dynamic Positioning Systems
The market for Marine Dynamic Positioning Systems (DPS) has been significantly impacted by the Covid-19 pandemic. Since it is one of the sectors most impacted by the global economic downturn, the oil and gas industry has been severely impacted by the pandemic. The market for marine dynamic positioning systems has directly been impacted by this. Due to the reduction in offshore activities, such as exploration and production, as well as the suspension of operations as a result of the pandemic, the demand for these systems has drastically decreased. Because businesses aren't investing in new systems or upgrades, the market size for DPS systems has shrunk due to the decline in demand.
The size of the market has decreased even more as a result of some businesses even scaling back their operations. The situation for market for marine dynamic positioning systems has also gotten worse due to a lack of support from governments and financial institutions. Despite the difficult circumstances, some businesses have been able to keep running and keep producing DPS systems. However, due to the rising cost of raw materials and components, as well as the additional cost of pandemic-related safety measures, the cost of production has seen a significant increase. Price increases as a result have further decreased the profits made by the companies. Marine Dynamic Positioning Systems have been significantly impacted by the Covid-19 pandemic. Although a market recovery is anticipated soon, the pandemic's effects will undoubtedly last for a while.
• The demand for a dependable and effective positioning system for marine and offshore operations is driving the steady growth of the marine dynamic positioning systems market. The market is being driven by consumer demand for cutting-edge systems like autonomous and remotely operated systems.
• In addition, the need for marine dynamic positioning systems is being driven by strict regulations and safety standards. There are many opportunities for the market as a result of the increased focus on environmentally friendly systems. It is anticipated that the market will continue to grow as Internet of Things (IoT) technology becomes more prevalent in the marine sector.
• By combining IoT technology with dynamic positioning systems, real-time data from the system and its parts can be collected, aiding in the efficient and secure operation of the ship. It is projected that the development of energy-efficient positioning systems would boost the market for marine dynamic positioning systems. Manufacturers are putting their efforts into creating energy-efficient positioning systems that can cut down on fuel use and air pollution.
Marine Dynamic Positioning Systems Market Scope
|Revenue forecast in 2030
|$ 17.6 billion
|CAGR of 12.4% during 2020-2030
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|ABB, Kongsberg Maritime, Wärtsilä, C-MAP, Furuno, Sperry Marine, Raytheon Anschütz, Yokogawa Electric Corporation, Rockwell Automation, and Trimble Marine Construction
Key Segment of Marine Dynamic Positioning Systems Market
By Type Overview (USD Billion)
• Control System
• Power System
By Application Overview (USD Billion)
• Commercial Vessel
• Naval Vessels
• Offshore Vessels
• Passenger Vessels
By Region Overview (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa