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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The report also covers competitive developments, such as long-term contracts, new product launches and developments, and research & development activities in the market, in addition to business and corporate strategies adopted by key market players.
The report provides in-depth market intelligence regarding market dynamics and major factors influencing the growth of the dynamic positioning systems (drivers, restraints, opportunities, and industry-specific challenges), along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution.



Research Methodology:
Market size estimation for various segments and subsegments of the dynamic positioning systems market was arrived at through extensive secondary research sources, such as Kongsberg Gruppen ASA (Norway), ABB Group (Switzerland), L-3 Communications Holdings, Inc. (U.S.), market outlook, International Maritime Organization (IMO), corroboration with primaries, and further market triangulation with the help of statistical techniques using econometric tools.
All possible parameters that affect the market have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to acquire the final quantitative and qualitative data.
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All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

This data is consolidated with detailed inputs and analysis from MarketsandMarkets, and presented in this report.



Africa is projected to grow at the highest CAGR during the forecast period
Africa is one of the fastest-growing markets for dynamic positioning systems due to increase in the end users of dynamic positioning systems. Africa’s economic development was fueled by activities related to extraction of massive energy sources. Due to the presence of a significant number of natural resources, various non-African companies are willing to contribute towards the development of the African maritime sector.
The marine port will serve as a gateway for East African landlocked countries, such as Uganda, Malawi, Rwanda, Burundi, Zambia, and the Democratic Republic of Congo.
However, factors, such as lack of training given to operators for efficient use of dynamic positioning systems and fluctuations in the exchange rate of USD limit the growth of this market.
Products offered by various companies in the market have been listed in the report. The recent developments section of the report includes recent and important developments by various companies between 2014 and 2016.
Major players in the dynamic positioning systems market are General Electric Company (U.S.), Rolls-Royce plc. (U.K.), ABB Group (Switzerland), L-3 Communications Holdings, Inc. (U.S.), Wartsila Oyj Abp (Finland), and Kongsberg Gruppen ASA (Norway).
Contracts accounted for a major share of the total growth strategies adopted by the leading players in the dynamic positioning systems market. This strategy has enabled companies to strengthen their position in the market.
The ecosystem of the market comprises raw material suppliers, manufacturers, distributors, and end users. Some of the key market players in the dynamic positioning systems market are Kongsberg Gruppen ASA (Norway), ABB Group (Switzerland), L-3 Communications Holdings, Inc. (U.S.), and Wartsila Oyj Abp (Finland), among others.
These players adopt strategies, such as contracts, new product developments, agreements, and collaborations to strengthen their position in the dynamic positioning systems.
They are also investing heavily in R&D to focus on the development of new and better products with high accuracy rate in vessel positioning.

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