Dynamic Positioning System Market 2023 report gives a detailed description of drivers and opportunities in the market with market strategies adopted by key players such as Kongsberg Gruppen ASA, General Electric, Wartsila Oyj ABP
Pune, India -- (SBWIRE) -- 12/12/2018 -- Dynamic positioning (DP) is a computer-controlled system to automatically maintain a vessel's position and heading by using its own propellers and thrusters. Dynamic positioning started in the 1960s for offshore drilling. With drilling moving into ever deeper waters, Jack-up barges could not be used anymore and anchoring became less economical.
The Global Dynamic Positioning System (DPS) Market was valued at USD 1754.98 Mn in 2017 and is expected to reach US$ 1979.68 by 2022.
The Dynamic Positioning System Market report begins with an executive summary that highlights the market overview, which including forecast and analyzes for the entire industry. The research report also addresses the trends that are presently popular in the global market, the opportunities that may come up in the future, and driving factors affecting the growth of the market.
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Company profiled in this report:
Kongsberg Gruppen ASA, General Electric, Wartsila Oyj ABP, ABB, Rolls-Royce, Navis Engineering, Marine Technologies, LLC, Praxis Automation Technology, Mitsui Engineering & Shipbuilding, and Guidance Marine amongst others.
Factors, such as rise in the number of offshore patrol vessels, technological advancements, and expansion in oil & gas refineries worldwide are anticipated to drive the Dynamic Positioning System market. In order to meet consumer demands and the growing industrialization and technological advancements, the deep-sea offshore activities are increasing. However, the adverse aftereffects of these activities are growing as well, pertaining to inattentive usage and inconsistent control.
By revenue, Asia Pacific created the largest market for Dynamic Positioning System in 2017. Dynamic positioning system vessels for offshore drilling by oil industries in Asia Pacific region is the main factor behind the growth of the market in this region. Furthermore, it is expected that the demand for class-III dynamic positioning equipment will grow in this region.
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Dynamic Positioning System Market report delivers a detailed analysis of the top players operating in the industry along with market share analysis and market structure. The latest information about mergers and acquisitions has been offered in order to provide a complete view of the Dynamic Positioning System Market, ultimately providing the readers to evaluate business strategies, key financials, and current market developments.