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

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Jan 10, 2018, 02:02 ET

LONDON, Jan. 10, 2018 /PRNewswire/ -- Marine Dynamic Positioning System Market by Subsystem (Control Systems, Power System, Thruster System), Equipment (Class 1, Class2, and Class 3), Application (Naval Vessel, Offshore Vessel) - Global Opportunity Analysis & Industry Forecast, 2014 - 2022

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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:
CLASS 1: No Redundancy
CLASS 2: Has redundancy so that single fault in an active system would lead to the failure of the overall system to fail
CLASS 3: Has redundancy with the ability to withstand fire or flood in any one compartment without system failure

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).

The key players operating in the marine dynamic positioning system market are ABB, General Electric Co., Kongsberg Gruppen, Marine Technologies LLC, Moxa Inc, Navis Engineering Oy, AB Volvo Penta, Praxis Automation Technology B.V., Rolls Royce, and Wartsila Corporation. Other players in the value chain include Thrustmaster of Texas, Inc., JRC, Guidance Marine, and Master Boat Builders Inc.

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)

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

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

Other Companies in Value Chain
Guidance Marine
JRC
Master Boat Builders Inc.
RH Marine
Thrustmaster of Texas, Inc.

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