Dynamic Positioning Systems Market Worth $10.5 Billion by 2026

Northbrook, IL -- (SBWIRE) -- 05/17/2021 -- According to the new market research 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", published by MarketsandMarkets™, the market 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.