Future Market Insights (FMI)’s upcoming research study on the global Dynamic Positioning System market lays bare undercurrents and opportunities for key market stakeholders. The report provides in-depth insights on the Dynamic Positioning System market through a detailed analysis of key growth drivers, restraints, trends, challenges, and revenue growth based on historical data. Valuable information and forecast statistics covered in the Dynamic Positioning System market report will help existing and potential new market players to craft long-term strategies as well as maintain business continuity during a crisis.
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COVID-19 Impact Analysis
As with many industries, the recent outbreak of the COVID-19 has adversely affected the industrial automation & equipment industry. The Dynamic Positioning System market is no exception. Following government’s measures, particularly social distancing norms and shelter-in-place orders, companies active in the Dynamic Positioning System market have put their production on a halt. Additionally, movement restrictions have created a logistical nightmare for market players, while the lack of ‘essential’ status caused a decline in sales.
The FMI’s report covers an exclusive chapter on the initial COVID-19 impact on the Dynamic Positioning System market. This allows both incumbent companies and new entrants to understand the market scenario during a crisis and helps them make sound decision to gain a distinct competitive edge.
Dynamic Positioning System Market Market: Drivers & Restraints
The prerequisite of advancement in technology (facilitates in deeper waters than vessels), increasing research & development initiatives by manufacturers is driving the demand of dynamic positioning systems. Dynamic positioning systems are better known for its safe and correct operations which are widely used for a variety of purposes in the offshore industry. It provides following benefits such as effective maritime operations, energy efficient system, helps in reducing operational costs and emissions, among others. Rising maritime trade in Asia-Pacific and Middle-East Africa along with deep-sea excavations is the fundamental growth driver in the Dynamic Positioning system market. Ensuring safety operations and push from the government side is also helping in increasing the degree of awareness among the users. Additionally, growth in the shipping industry is also up surging with significant opportunities in this market. However, high implementation cost, lack of reliable communication and complexity in system are the major setback for the dynamic positioning system market.
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Dynamic Positioning System Market: Segmentation
To analyze the Dynamic Positioning System market effectively and efficiently, the information has been segregated into key segments and sub-segments.
On the basis of equipment type, the global dynamic positioning system market can be broadly segmented into:
- Class 1
- Class 2
- Class 3
On the basis of components, the global dynamic positioning system market can be segmented into:
- Power System (Includes Power management system, Electrical Boards, Electrical generators, Engines, Distribution system, UPS etc )
- DP Control System (Positioning control system, Communication network, Vessels and environmental sensor systems and Positioning reference systems)
- Thruster System (Thruster control units, Cabling and routing, Thruster drive units and auxiliaries, Main propellers and rudders)
On the basis of application, the global dynamic positioning system market can be segmented into:
- Passenger Vessels (mega yachts and cruise ships)
- Merchant Vessels (Shuttle tankers, container vessels and bulk carriers)
- Platform Supply Vessel/Offshore Support Vessels (Cable Laying Vessels, pipe laying vessels, dredgers, drill, ships, floating production, shuttle tanker, among many others)
- Naval Vessels and Operations (Mine Sweepers and Survey ships)
Dynamic Positioning System Market: Competition Analysis
The FMI’s study presents an extensive analysis of global, regional, and country-level players operating in the Dynamic Positioning System market based on their innovative launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Dynamic Positioning System market report.
Key players covered in the report include:
- L-3 Communications Holdings,
- General Electric Company,
- Rolls-Royce Plc,
- General Electric Company,
- Kongsberg Gruppen ASA,
- Navis Engineering,
- Norr Systems,
- Praxis Automation Systems,
Dynamic Positioning SystemMarket: Region-wise Outlook
The global dynamic positioning system market is expected to register a CAGR of approximately 5 percent over the forecasted period 2015-2025. Depending upon geographic regions, global dynamic positioning system market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and Middle East & Africa. In terms of regions, Asia-Pacific accounts for the largest market share. Middle East and Africa market is projected to register a significant CAGR during the forecast period. Increasing maritime trade with technological updates is fueling the growth in Asia-Pacific and Middle East and Africa regions. Countries such as China, Saudi Arabia, UAE, South Korea, Japan, Russia, among others is expected to witness an upsurge in the demand for DP systems. Eastern Europe and Latin America are also forecast to register a significant growth in the global dynamic positioning system market during the forecast period 2015-2025.
Crucial Questions Answered in the Report
- Which end-use industry remains the top consumer of Dynamic Positioning System in different regional markets?
- At what rate has the global Dynamic Positioning System market been expanding during the forecast period?
- How will the global Dynamic Positioning System market look like by the end of the forecast period?
- What innovative technologies are the Dynamic Positioning System market players adopting to stay ahead of the pack?
- What are the restraints affecting the growth of the global Dynamic Positioning System market?
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Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Dynamic Positioning System market