The dynamic positioning systems market is projected to grow from USD 1.62 Billion in 2016 to USD 1.82 Billion by 2021, at a CAGR of 2.36% during the forecast period. The market is projected to grow from USD 1.62 Billion in 2016 to USD 1.82 Billion by 2021, at a CAGR of 2.36% during the forecast period.
Various factors, such as increase in the number of offshore patrol vessels, technological advancements, and expansion in oil & gas refineries are expected to drive the growth of the dynamic positioning systems market.
The base year considered for the study is 2015 and the forecast period is from 2016 to 2021. Factors, such as increase in the number of offshore patrol vessels, technological advancements, and expansion in oil & gas refineries worldwide are expected to drive the dynamic positioning systems market.
Browse 94 market data Tables and 94 Figures spread through 214 Pages and in-depth TOC on "Dynamic Positioning System (DPS) Market - Global Forecast to 2021"
Based on application, the merchant vessels segment is expected to grow at the highest rate during the forecast period
Based on application, the merchant vessels segment of the dynamic positioning systems market is estimated to grow at the highest CAGR during the forecast period. Increasing use of dynamic position (DP) vessels for offshore drilling by oil industries is fueling the growth of the merchant vessels segment.
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