Dynamic Positioning System Market Size, Share, Growth Analysis, By Type (Conventional Dynamic Positioning System, Next-Generation Dynamic Positioning System), By Subsystem (Power Systems, Motors, & Drives), By Class, By Application, By Fitting, By Region -Industry Forecast 2024-2031.

Global Dynamic Positioning System Market size was valued at USD 6.70 billion in 2022 and is poised to grow from USD 7.88 billion in 2023 to USD 16.86 billion by 2031, growing at a CAGR of 10.6% during the forecast period (2024-2031). 

Dynamic positioning has an integration of a variety of individual and computer-controlled systems which automatically maintains and detects the vessel's movement. Dynamic positioning systems help with computer-based solutions for operating and maintaining the propellers and thrusters of vessel headings.

The urgent requirement for meeting the various types of norms on the different guidelines implemented by the International Maritime Organization is, however, expected to drive the sales of dynamic positioning systems.

The preference for latest developed technologies including AI-based technology and Nano Positioning Systems is increasing; and thus, it holds a bright future in the dynamic positioning systems market. The rise in expenditure on the research and development for developing commercially reliable Dynamic Positioning Systems by leading firms have forecasted the swift growth in this market over the forecast period. The rising demand for upgraded medium for operating sea vessels has resulted in an increasing demand for dynamic positioning systems by the commercial maritime sectors available in the current time.

US Dynamic Positioning System Market is poised to grow at a sustainable CAGR for the next forecast year.