The global marine dynamic positioning system market size was US$ 6.30 billion in 2021. The global marine dynamic positioning system market size is forecast to reach US$ 18.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 12.55% during the forecast period from 2022 to 2030.

A dynamic positioning system is a computer-operated system used to control a vessel's position in the water. Dynamic positioning systems consist of a thruster system, a control system, and a power system. The positioning system contains a GPS, which monitors the vessel's position. As the vessel moves off its intended position, the DP computer begins calculating how much thrust it needs to apply to maintain its position. Furthermore, a dynamic positioning system keeps the vessel stationary and eliminates the need to rely on anchors in the vessel.

Factors Influencing Market Growth

• A rise in seaborne trade throughout the world, a rise in the number of dynamic position ships, including survey and research vessels, and advancements in offshore drilling technology drive the global market growth.
• High maintenance costs and the complexity of the system may slow down the overall market growth.
• The advent of laser-based dynamic positioning systems, an increase in the development of autonomous ships, and technological innovations are forecast to offer lucrative opportunities in the global marine dynamic positioning system market during the forecast period. 

Impact Analysis of COVID-19

The COVID-19 pandemic negatively impacted the global market growth. Several governments-imposed lockdowns in order to combat the spread of COVID-19. This led to the temporary closure of shipyards, resulting in a decreased demand for marine dynamic positioning systems. In addition, a reduction in trade activities and ship production also hindered market growth. In order to avoid losses during the COVID-19 pandemic, shipowners scrapped older ships due to higher fuel prices and poor market conditions. 

Regional Insights

The Asia Pacific is forecast to lead the marine dynamic positioning system market over the forecast period. Due to an increase in seaborne trade in the region. As a result, in countries such as India, the government is taking steps to promote maritime tourism, which will lead to a demand for new ships equipped with the latest technologies. Therefore, the demand for dynamic positioning systems will increase. Increasing deployment of offshore patrol vessels and advances in offshore drilling technology is also contributing to market growth in the region. In addition, offshore oil and gas operations in deep ocean waters are increasing the need for dynamic positioning systems in the Asia Pacific region.  

Leading Competitors

The leading prominent companies profiled in the global marine dynamic positioning system market are:

• ABB Limited
• AB Volvo
• General Electric Company
• Kongsberg Gruppen ASA
• L3Harris Technologies, Incorporated
• Marine Technologies, LLC
• Navis Engineering Oy
• Praxis Automation Technology B.V.
• Reygar Limited
• Wärtsilä Corporation
• Guidance Marine
• Master Boat Builders Incorporated
• RH Marine
• Thrustmaster of Texas, Incorporated
• Other Prominent Players

Scope of the Report

The global marine dynamic positioning system market segmentation focuses on Subsystem, Equipment Class, Application, Sales Channel, and Region.

Segmentation based on Subsystem

• Control System
• Power System
• Thruster System

Segmentation based on Equipment Class

• Class 1
• Class 2
• Class 3

Segmentation based on Application

• Naval Vessels
• Offshore Vessels
• Others

Segmentation based on Sales Channel

• OEM (original equipment manufacturer)
• Retrofit

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America