Dynamic positioning market worth US$1.48 billion by 2020, report claimsNews // June 8, 2015
According to the new market research report 'Dynamic Positioning Systems (DPS) Market by Equipment Type (Class 1, Class 2, Class 3), Sub-system (Power Systems, Thruster Systems, DP Control Systems, Sensors), Application (Passenger Ships, Merchant Vessels, Offshore Vessels, Naval Vessels), and Region - Forecasts to 2020,' published by MarketsandMarkets, the global dynamic positioning systems market is expected to reach US$1.48 Billion by 2020, growing at a CAGR of 4.36%.
The report segments the market on the basis of equipment type, application, and region. The geographical analysis section of the report contains a detailed classification of this market and includes North America, Europe, Asia-Pacific, the Middle East, Latin America, and Africa, encompassing the top countries that account for the majority share of the market.
The report divides the market on the basis of vessels encompassing passenger ships (cruise ships and mega yachts), merchant vessels (shuttle tankers, container vessels, and bulk carriers), offshore vessels (cable laying vessels, pipe laying vessels, OCVs, DSVs, drill ships, dredging ships, FPSO, PSVs, AHTS, and accommodation barges), and naval vessels (mine sweepers and survey ships).
The report also provides a detailed description regarding the industry, market, and technology trends that prevail in the DP market.