The report includes an expansive account of the present state and a futuristic view of the global market for dynamic positioning systems. It is titled “Dynamic Positioning Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022.”
Albany, NY -- (SBWIRE) -- 11/16/2016 -- The vast rise in the numbers of dynamic positioning vessels such as drilling ships, survey vessels, diving support vessels, and supply vessels has led to a significant rise in demand for dynamic positioning systems, states a recent report by Transparency Market Research.
The increased use of dynamic positioning vessels for offshore drilling operations in the oil and gas industry is one of the key factors driving the global demand for dynamic positioning systems. Moreover, the fast pace of technological improvements observed in these systems over the past few years, significantly enhancing their competence and efficiency levels, are also boosting the global demand for dynamic positioning systems.
However, the disparity between the demand for dynamic positioning vessels and effective resources capable of operating dynamic positioning vessels is posing challenges to the widespread adoption of dynamic positioning systems. Along with this, the high level of system complexity, complex installation, and operations of most dynamic positioning systems also act as restraint for the market.
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Nevertheless, the increased usage of dynamic positioning systems in offloading vessels and floating production storage is expected to generate newfound growth opportunities for the global dynamic positioning systems market in the next few years. Transparency Market Research also estimates that the increased adoption of condition-based monitoring systems for vessel maintenance purposes will influence and shape the overall growth dynamics of the market.
In the report, the global dynamic positioning systems market is segmented on the basis of criteria such as equipment type, reference system, sub-system, application, and geography. In terms of sub-system, the global dynamic positioning systems market is segmented into sensors, controls, power systems, and thruster systems. In terms of reference system, the market has been segmented into taut wire, hydro acoustic position reference, differential global positioning system, and laser based systems. Key applications of dynamic positioning systems examined in the report are passenger ships, offshore vessels, naval vessels and merchant vessels.
The report also gives a thorough overview of the competitive landscape of the global dynamic positioning systems market, with a detailed account of the strengths, weaknesses, opportunities, and threats for each of the market's notable players profiled in the report. An expansive account of the recent developments in the market is also included.
Some of the key companies in the market, profiled in the report, are Rolls-Royce PLC, L-3 Communications corp., Kongsberg Gruppen ASA, AB Volvo Penta, General Electric Co., NORR Systems Pvt. Ltd., Marine Technologies LLC, Navis Engineering Oy, and Praxis Automation Technology B.V.