Dynamic Positioning Systems Market Growing at the Fastest Rate in APAC and North America

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Dynamic Positioning Systems Market Growing at the
Fastest Rate in APAC and North America The report
"Dynamic Positioning Systems Market by Equipment
type (Class 1, class 2, class 3), Application
(Bulk Carrier, Gas Tanker, Ferries, Cruise,
Amphibious, Destroyer, Frigate), End
use (OEM, Retrofit), Type, Sub- system,
and Region - Global Forecast to 2026", is
estimated to be USD 6.3 billion in 2021 and is
projected to reach USD 10.5 billion by 2026,
at a CAGR 10.7 from 2021 to 2026. Rise in
offshore shipping industry and rise in naval
based operations in military vessels are the
major factors anticipated to boost the demand
for marine batteries during the forecast
period. The rise in seaborne trade across the
globe, growing maritime tourism industry, and the
development of autonomous vessels are the other
factors anticipated to fuel the growth of the
dynamic positioning system market. Browse 193
market data Tables and 47 Figures spread through
223 Pages and in- depth TOC on "Dynamic
Positioning Systems Market - Global Forecast to
2026" Download PDF Brochure _at_ https//www.market
sandmarkets.com/pdfdownloadNew.asp?id44881766 Cl
ass 1 Equipment type for Dynamic Positioning
System projects highest CAGR from 2021 to
2026 By equipment type, the Class 1 equipment
type of dynamic positioning system is projected
to register highest CAGR during the forecast
period. Small and medium commercial vessels are
the ship type which are majorly equipped with
class 1 dynamic positioning system. Class 1
dynamic positioning system equipment type has the
ability to automatically maintain and hold
the position of the vessel under specific
environmental conditions. This equipment has a
manual position control system. A single fault in
this equipment may cause failure of the entire
system. Commercial application segment is
projected to register highest CAGR from 2021 to
2026 By application type, the commercial segment
of vessels is estimated to witness highest CAGR
during the forecast period. The rise in this
segment is attributed by factors such
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as rise in shipbuilding industries manufacturing
commercial vessels in the Asia Pacific region,
rise in seaborne trade around the globe
and also the increasing water recreational
activity throughout different regions. Commercial
types of vessel includes research vessels,
motorboats, dry cargo ships, passenger ferries
and others are some of the vessels under the
commercial shipping industry. OEM End Use
segment is projected to register the highest CAGR
from 2021 to 2026 By end use, the OEM segment is
estimated to witness the highest CAGR during the
forecast period. Original equipment
manufacturers (OEMs) offer line fit and new
product demand, thereby saving the time consumed
in the installation of components post-delivery.
Traditional dynamic positioning systems were
not connected to administrative networks or
the internet. Due to the increasing
installation of automated DP systems on
vessels/ships, Original Equipment Manufacturers
(OEM) also offer remote diagnostics and
maintenance. Next generation type of dynamic
positioning system is projected to register
highest CAGR from 2021 to 2026 By type, the next
generation dynamic positioning system is
projected with the highest CAGR during the
forecast period. The next generation dynamic
positioning system will be replacing the
conventional dynamic positioning system in the
near future. With the rise in testing and
development of autonomous vessels for being used
as commercially used vessel, the demand of high
technology equipped dynamic positioning system is
going up. These dynamic positioning systems will
not only reduce the chances of error in the
dynamic positioning system market but will also
increase the efficiency of vessel operations. By
sub-system type, position reference and tracking
systems is projected to register highest CAGR
from 2021 to 2026 By sub-system type, the
position reference and tracking systems is
projected with the highest CAGR during the
forecast period. The different types of position
reference and tracking systems available for the
dynamic positioning system are hydro-acoustic
position reference system, differential GPS
reference system, taut wire reference system,
and laser based reference system. Out of these
the laser based reference system is the majorly
used positioning reference and tracking
system. APAC region for dynamic positioning
system market is projected to register the
highest CAGR from 2021 to 2026 By region, APAC
(Asia Pacific) is expected to witness
substantial growth in the dynamic positioning
system market during the forecast period. The
analysis for the APAC region includes the
economically growing countries such as
China, India, Japan, and Others. Countries such
as China and South Korea houses some of the
largest commercial shipbuilding companies which
is expected to drive the market in this region.
Along with this country such as New Zealand is
one the major country in
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this region which will see a rise in the dynamic
positioning system market due to the increasing
recreational water activities and commercial
trade. Key Market Players The dynamic
positioning system market has been gaining
traction over the past few years due to the
presence of several established companies. Some
of the major market players are Kongsberg Gruppen
(Norway), ABB Group (Switzerland), General
Electric Company (US), Wartsila (Finland), Rolls
Royce PLC. (UK), A.B Volvo (Sweden), Twin Disc
(US), L3 Harris (US), Navis Engineering
(Finland), Royal IHC (Netherlands), Marine
Technologies LLC (US), Praxis Automation
Technology (Netherlands), Norr Systems Pte Ltd.
(Singapore), Moxa Inc. (Taiwan), Reygar
(UK), Comex (France), Sonardyne (UK),
Alphatron Marine (Netherlands), Undheim
Systems (Norway), Wartsila Guidance Marine (UK),
Thrustmaster of Texas (US), Xenta Systems
(Italy), RH Marine (Netherlands), Raytheon
Anschutz (Germany), Japan Radio Company Ltd.
(Japan). Ask for Sample Report _at_ https//www.marke
tsandmarkets.com/requestsampleNew.asp?id44881766
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