Update date: Jul 08, 2026 | N/A Pages | Report ID: EP-OG-002031
Floating Production Systems (FPS) Market
DMA IntelligenceFloating Production Systems (FPS) Expansion Opportunities & Forecast Analysis 2033
Segments: Type (FPSO, Tension Leg Platform, SPAR, Barge), Water Depth (Shallow Water, Deepwater and Ultra-Deepwater), Hull Type (Converted Tanker FPSO Units, Newly Built FPSO Units, Modular Floating Units), Deployment Type (New Installations (Greenfield Projects), Redeployment of Existing Units, Life Extension & Upgrade Projects), By Region, And Segment Forecasts
$14.5B
Market Size, 2025
$15.4B
Market Estimate, 2026
$24.0B
Market Forecast, 2033
6.5%
CAGR, 2026–2033
Floating Production Systems (FPS) Market Size, Share & Key Insights
The Floating Production Systems (FPS) Market size was valued at USD 14.50 Billion in 2025, and the market is projected to grow from USD 15.44 Billion in 2026 to USD 24.00 Billion by 2033, growing at a CAGR of 6.5% during the forecast period 2026–2033. The market saw distributed global demand in 2025.
Study Overview
 Study Period | 2021 - 2033 |
 Base Year | 2025 |
 Estimated Year | 2026 |
 Forecast Period | 2026-2033 |
 Historical Range | 2021-2025 |
| Units | USD Billion |
 Coverage | Global | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
 Deliverables | PDF + Excel Data Pack |
Major Market Players
Key Insights
- The global Floating Production Systems (FPS) market is projected to reach USD 24.16 Billion by 2033, growing at a significant CAGR of 6.50% from its 2025 valuation of USD 14.50 Billion, indicating robust expansion driven by deepwater exploration.
- FPSO vessels are anticipated to maintain their dominance, accounting for the largest share of the market due to their versatility in production, storage, and offloading capabilities, particularly in remote offshore locations.
- North America is expected to remain the largest market for FPS, benefiting from substantial investments in offshore projects in the Gulf of Mexico, while Asia Pacific emerges as the fastest-growing region driven by new discoveries and energy demand.
Market Definition and Strategic Context
The Floating Production Systems (FPS) Market refers to the specialized offshore facilities used for the exploration, production, processing, and storage of hydrocarbons in deepwater and ultra-deepwater environments. These systems are crucial for accessing remote and challenging oil and gas reserves, offering flexibility and cost-effectiveness compared to fixed platforms. The global FPS market is a vital component of the energy industry's infrastructure, facilitating the extraction of resources that are otherwise inaccessible. Driven by increasing energy demand, advancements in offshore drilling technologies, and the depletion of shallow-water reserves, the Floating Production Systems (FPS) market size has been experiencing steady growth. The market forecast indicates a robust growth outlook, fueled by new project sanctioning and upgrades to existing units. The current market value for Floating Production Systems stood at USD 14.50 Billion in 2025, with projections for significant industry expansion over the forecast period. FPS units, including Floating Production, Storage, and Offloading (FPSO) vessels, Floating Storage and Offloading (FSO) vessels, Tension Leg Platforms (TLPs), and Spar platforms, are engineered to withstand harsh marine conditions and process hydrocarbons onboard before offloading or transporting them via pipelines. Their modular design allows for redeployment, enhancing economic viability for marginal fields. The strategic context of this market is shaped by global energy transition efforts, the need for enhanced operational efficiency, and the geopolitical landscape influencing oil and gas exploration. As the world continues to rely on hydrocarbons, albeit with a growing emphasis on cleaner energy, FPS solutions remain indispensable for maximizing recovery from mature fields and developing new frontiers. This detailed analysis provides a comprehensive understanding of the market dynamics, technological innovations, and strategic imperatives driving the FPS sector.
| Report Attribute | Details |
|---|---|
| Market size value in 2025 | USD 14.50 Billion |
| Revenue forecast in 2033 | USD 24.00 Billion |
| Growth rate | CAGR of 6.5% from 2025 to 2033 |
| Actual data | 2021 - 2024 |
| Forecast period | 2025 - 2033 |
| Quantitative units | Revenue in USD Billion and CAGR from 2025 to 2033 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | Type, Water Depth, Hull Type, Deployment Type |
| Regional scope | North America; Europe; Asia-Pacific; South America; Middle East and Africa |
| Country scope | United States; Canada; Mexico; Germany; United Kingdom; Norway; Russia; Rest of Europe; China; India; Thailand; Vietnam; Australia; Rest of Asia-Pacific; Brazil; Trinidad and Tobago; Rest of South America; Saudi Arabia; United Arab Emirates; Qatar; Egypt; Nigeria; Angola; Namibia; Rest of Middle East and Africa |
| Key companies profiled | SBM Offshore N.V.; MODEC Inc.; BW Offshore Ltd; Keppel Offshore & Marine Ltd; Samsung Heavy Industries Co. Ltd; Bumi Armada Berhad; TechnipFMC plc; Hyundai Heavy Industries Co. Ltd; Mitsubishi Heavy Industries Ltd; Teekay Corporation; Sembcorp Marine Ltd; Offshore Oil Engineering Co. (CNOOC); COSCO Shipyard Group Co.; Daewoo Shipbuilding & Marine Engineering Co. Ltd; Aker Solutions ASA; Petrofac Ltd; China Harbor Engineering Co. Ltd; Yinson Holdings Berhad; Saipem S.p.A.; Wood Group PLC |
| Customization scope | Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Growth Catalysts & Market Constraints
The Floating Production Systems (FPS) market is currently navigating a complex landscape shaped by evolving energy demands and technological advancements. The global drive for energy security, coupled with the increasing viability of deepwater hydrocarbon reserves, is significantly influencing the market. The Floating Production Systems (FPS) market size continues to expand as operators prioritize flexible and cost-effective solutions for offshore production. The growth forecast for FPS units remains positive, reflecting ongoing investments in new projects and the refurbishment of existing assets. This dynamic environment necessitates a keen understanding of both the opportunities for expansion and the constraints that could impede industry progress, ensuring stakeholders can strategically position themselves within the Floating Production Systems (FPS) market.
Growth Drivers
- Increasing deepwater and ultra-deepwater exploration and production activities are a primary driver, as conventional shallow-water reserves deplete. FPS units offer the necessary flexibility and technical capabilities to operate effectively in these challenging environments, unlocking vast new hydrocarbon resources and driving demand for advanced floating solutions.
- Technological advancements in FPS design, materials, and digital integration are enhancing operational efficiency, safety, and environmental performance. Innovations such as advanced mooring systems, subsea processing, and remote monitoring reduce operational costs and improve production rates, making FPS an increasingly attractive option for offshore projects.
Restraints
- High capital expenditure and long project lead times associated with FPS construction and deployment pose a significant restraint. The substantial initial investment required, coupled with the complex financing structures and inherent risks of large-scale offshore projects, can deter smaller players and delay project sanctioning.
- Volatile crude oil prices and a fluctuating global economic outlook directly impact investment decisions in the offshore sector. Periods of low oil prices can lead to project deferrals or cancellations, reducing demand for new FPS units and affecting the overall profitability and stability of the market.
Opportunities
- The growing demand for gas and the development of floating liquefied natural gas (FLNG) facilities present a substantial opportunity. FLNG units combine gas production, liquefaction, storage, and offloading, providing a flexible solution for monetizing stranded gas reserves and expanding the FPS market beyond traditional oil production.
- Expansion into frontier regions and marginal fields, previously deemed uneconomical, offers new growth avenues. Technological advancements and modular FPS designs enable operators to develop smaller, more complex reservoirs efficiently, leveraging the adaptability of floating systems to maximize resource recovery.
Challenges
- Strict environmental regulations and increasing public scrutiny over offshore operations pose a significant challenge. Compliance with stringent emission standards, waste management protocols, and decommissioning requirements adds complexity and cost, potentially slowing down project approvals and increasing operational burden.
- Supply chain disruptions and skilled labor shortages, particularly in specialized engineering and construction roles, can impact project timelines and costs. The global nature of FPS projects makes them vulnerable to geopolitical events and economic instability, leading to delays and increased operational risks.
Market Level Breakdown
The Floating Production Systems (FPS) market is broadly segmented by Type into Floating Production, Storage, and Offloading (FPSO), Floating Storage and Offloading (FSO), Tension Leg Platforms (TLP), and Spar platforms. FPSOs represent the largest segment due to their comprehensive capabilities for hydrocarbon processing, storage, and offloading, making them highly versatile for deepwater projects. FSOs are primarily used for storage and offloading, complementing other production facilities. TLPs and Spars are favored for their stability and suitability for specific water depths and reservoir characteristics, often serving as production hubs. This segmentation highlights the diverse operational requirements and technological solutions available within the Floating Production Systems (FPS) market.
Segmentation by Water Depth categorizes FPS deployments into Shallow Water, Deepwater, and Ultra-Deepwater. The Deepwater and Ultra-Deepwater segments collectively account for the majority of the market share, driven by the increasing exploration and production activities in these challenging environments. As easily accessible shallow-water reserves dwindle, operators are increasingly moving into deeper waters, necessitating robust and technologically advanced FPS solutions. This shift underscores the critical role of FPS in accessing new frontiers and maximizing global hydrocarbon recovery, significantly influencing the Floating Production Systems (FPS) segmentation.
Based on Hull Type, the market includes Ship-shaped, Semi-submersible, and Cylindrical designs. Ship-shaped hulls are predominant, primarily due to their application in FPSO and FSO units, offering large storage capacities and ease of construction. Semi-submersible hulls provide excellent stability in harsh weather conditions and are often used for TLPs. Cylindrical hulls, characteristic of Spar platforms, offer superior motion characteristics in very deep waters. Each hull type is selected based on environmental conditions, operational requirements, and reservoir characteristics, contributing to the diverse Floating Production Systems (FPS) market.
The market is also segmented by Deployment Type into New Build and Converted units. While new builds offer tailored solutions and the latest technology, converted units, often repurposed oil tankers, provide a more cost-effective and faster deployment option, particularly for fields with shorter lifespans or smaller reserves. The choice between new build and conversion depends on project economics, timeline constraints, and specific operational needs, reflecting the strategic flexibility within the Floating Production Systems (FPS) market.
Floating Production Systems (FPS) Segmentation Breakdown
- Type
- FPSO
- Tension Leg Platform
- SPAR
- Barge
- Water Depth
- Shallow Water
- Deepwater and Ultra-Deepwater
- Hull Type
- Converted Tanker FPSO Units
- Newly Built FPSO Units
- Modular Floating Units
- Deployment Type
- New Installations (Greenfield Projects)
- Redeployment of Existing Units
- Life Extension & Upgrade Projects
Geographic Performance & Regional Trends
North America currently holds the largest share in the Floating Production Systems (FPS) market, primarily driven by extensive deepwater exploration and production activities in the Gulf of Mexico. The region benefits from a well-established offshore infrastructure, significant investments from major oil and gas companies, and technological leadership in subsea engineering. Conversely, Asia Pacific is poised to be the fastest-growing region, fueled by new offshore discoveries in countries like China, Vietnam, and Australia, coupled with increasing energy demand and government initiatives to boost domestic hydrocarbon production. This regional growth is underpinned by the deployment of advanced FPS solutions to unlock previously untapped reserves, contributing significantly to the overall Floating Production Systems (FPS) market growth.
Regional Growth Drivers
- North America: The region's market is propelled by significant deepwater projects in the United States Gulf of Mexico, where advanced FPS units are essential for extracting complex hydrocarbon reserves. Robust investment in offshore infrastructure and technological innovation further supports market expansion and operational efficiency.
- Europe: Growth in Europe is driven by continued development in the United Kingdom and Norway sectors of the North Sea, focusing on mature field optimization and new discoveries in challenging environments. Stringent safety and environmental regulations also spur demand for advanced, compliant FPS technologies.
- Asia Pacific: The Asia Pacific market is experiencing rapid expansion due to rising energy demand, new oil and gas discoveries off the coasts of China, India, and Australia, and government support for offshore exploration. The region's emerging economies are investing heavily in FPS to meet their growing energy needs.
- Latin America: The market in Latin America is primarily boosted by large-scale deepwater and pre-salt projects in Brazil, as well as significant activities in Guyana and Mexico. These nations are leveraging FPS to unlock vast offshore resources, driving demand for both new builds and converted units.
- Middle East & Africa: This region sees growth from ongoing offshore developments in Saudi Arabia, United Arab Emirates, and Nigeria, alongside emerging projects in Angola and Mozambique. The need for enhanced oil recovery and new field developments in challenging waters underpins the demand for FPS solutions.
Looking ahead, mature markets like North America and Europe will likely focus on asset optimization, life extension projects, and technological upgrades to existing FPS units, ensuring continued production from aging fields. In contrast, emerging regions such as Asia Pacific and Latin America are expected to be the primary drivers of new FPS deployments, characterized by greenfield projects and significant capital investments. This bifurcated trajectory creates distinct strategic implications for suppliers, requiring tailored approaches for both established and growth markets to capitalize on regional opportunities and navigate diverse regulatory and operational landscapes.
Competitive Insights & Leading Companies
The Floating Production Systems (FPS) competitive landscape is characterized by a moderately consolidated market structure, with a few dominant players holding significant market share alongside several specialized niche providers. Global players like SBM Offshore, MODEC Inc., and BW Offshore lead the market, leveraging extensive experience, technological expertise, and a global footprint. These companies often engage in long-term contracts for FPS unit leasing, operation, and maintenance, creating high barriers to entry for new competitors. The market also includes major shipyards and engineering firms such as Samsung Heavy Industries and Hyundai Heavy Industries, which are critical for the construction and conversion of FPS units. Competition revolves around several key levers, including the ability to offer advanced technological solutions for challenging deepwater environments, competitive pricing models, robust project execution capabilities, and strong relationships with major oil and gas operators. Furthermore, compliance with stringent international safety and environmental regulations, along with the ability to secure necessary certifications, plays a crucial role in maintaining and expanding market presence. The specialized nature of FPS projects demands integrated services, from design and engineering to installation and operation, fostering a competitive environment where comprehensive service offerings are highly valued. This dynamic mix of global and regional players underscores the intensity and strategic complexity of the Floating Production Systems (FPS) market.
Companies in the FPS market employ various strategies to maintain and enhance their competitive edge. Mergers and acquisitions (M&A) are common, allowing companies to expand their service portfolios, acquire new technologies, and gain access to new geographic markets. Strategic partnerships and joint ventures are also prevalent, particularly for large, complex projects that require pooling resources and expertise. Product launches and technological advancements, such as the development of more efficient processing modules, enhanced mooring systems, and digital twins for predictive maintenance, are critical for differentiation. Geographic expansion, especially into high-growth regions like Asia Pacific and Latin America, is a key strategy to tap into new project opportunities. Furthermore, investment in research and development (R&D) focuses on improving operational efficiency, reducing environmental impact, and adapting to new energy transition requirements, such as carbon capture readiness. Differentiation is achieved through superior engineering capabilities, a proven track record of project delivery, flexible financing options (e.g., build-own-operate-transfer models), and a strong emphasis on safety and reliability. However, the industry faces challenges such as margin pressure due to volatile commodity prices, the high cost of compliance with evolving environmental regulations, and the inherent risks associated with operating in harsh offshore environments, which necessitate robust risk management strategies and continuous innovation to sustain profitability and market leadership.
Floating Production Systems (FPS) Key Companies
- SBM Offshore N.V.
- MODEC Inc.
- BW Offshore Ltd
- Keppel Offshore & Marine Ltd
- Samsung Heavy Industries Co. Ltd
- Bumi Armada Berhad
- TechnipFMC plc
- Hyundai Heavy Industries Co. Ltd
- Mitsubishi Heavy Industries Ltd
- Teekay Corporation
- Sembcorp Marine Ltd
- Offshore Oil Engineering Co. (CNOOC)
- COSCO Shipyard Group Co.
- Daewoo Shipbuilding & Marine Engineering Co. Ltd
- Aker Solutions ASA
- Petrofac Ltd
- China Harbor Engineering Co. Ltd
- Yinson Holdings Berhad
- Saipem S.p.A.
- Wood Group PLC
Floating Production Systems (FPS) Market Ecosystem
Ecosystem Participants
- Oil and Gas Operators — These are the primary clients and end-users of FPS units, responsible for hydrocarbon exploration, development, and production. They drive demand by sanctioning projects, managing reservoirs, and overseeing the entire lifecycle of offshore assets, playing a central role in investment decisions and technological adoption.
- Their operational responsibilities include field development planning, contracting FPS services, and managing the offloading and transportation of produced oil and gas. They bear the financial risks and rewards of production, influencing FPS design and operational requirements.
- FPS Contractors and Owners — Companies that design, build, own, operate, and lease FPS units to oil and gas operators. They specialize in engineering, procurement, construction, installation, and commissioning (EPCIC) services, often providing integrated solutions for complex offshore projects.
- These entities manage the substantial capital investment in FPS vessels and platforms, offering flexible business models like bareboat charters or full-service contracts. Their expertise is critical in ensuring the technical and operational integrity of the FPS asset throughout its lifecycle.
- Shipyards and Fabricators — These participants are responsible for the physical construction of new FPS hulls, topsides, and modules, as well as the conversion of existing vessels into FPS units. They provide the heavy engineering and manufacturing capabilities essential for realizing FPS designs.
- Their role involves complex project management, adherence to strict quality and safety standards, and managing large-scale supply chains for materials and components. Delays or cost overruns at this stage can significantly impact overall project timelines and budgets.
- Equipment and Technology Providers — Suppliers of specialized components and systems for FPS units, including processing equipment, mooring systems, risers, subsea production systems, power generation, and control systems. They provide critical technologies that enhance efficiency, safety, and environmental performance.
- These providers continually innovate to meet evolving operational demands, such as deeper water capabilities, harsh environment resilience, and digital integration. Their R&D efforts are vital for the advancement of FPS technology and the overall capability of the market.
- Classification Societies and Regulatory Bodies — Independent organizations that establish and enforce technical standards for the design, construction, and operation of FPS units to ensure safety and environmental compliance. They conduct surveys, issue certificates, and provide regulatory oversight.
- Their role is crucial for maintaining industry integrity and minimizing operational risks. Compliance with their rules and guidelines is mandatory for FPS projects, influencing design specifications, material selection, and operational procedures, and adding a layer of scrutiny.
- Financial Institutions and Investors — Banks, private equity firms, and other investors that provide the substantial capital required for FPS projects. They offer project financing, debt, and equity investments, enabling the development and deployment of these high-value assets.
- Their involvement is critical for the economic viability of FPS projects, assessing financial risks, and structuring complex funding arrangements. The availability and cost of capital directly influence the pace of new FPS developments and market growth.
Report Coverage & Key Deliverables
The report delivers a comprehensive analysis of the Floating Production Systems (FPS), combining quantitative data with qualitative insights. It provides an in-depth exploration of the market's current state, historical performance, and future growth trajectories, offering critical intelligence for strategic decision-making. This study meticulously dissects market trends, competitive dynamics, and technological advancements shaping the FPS industry, ensuring that stakeholders gain a holistic understanding of the landscape. By integrating detailed market segmentation, regional analyses, and a robust competitive benchmarking section, the report serves as an invaluable resource for investors, manufacturers, service providers, and policymakers. It aims to equip readers with actionable insights, enabling them to identify lucrative opportunities, mitigate potential risks, and formulate effective business strategies. The clear and concise presentation of complex market data ensures that even non-technical readers can grasp key concepts and implications, making it a powerful tool for navigating the evolving global energy sector and making informed decisions regarding Floating Production Systems.
Report Coverage
- Market Size Estimates (historical and forecast)
- Our analysis spans from 2021 to 2033, covering historical data from 2021-2025 and providing a comprehensive forecast from 2026-2033. The methodology employs a rigorous bottom-up approach, triangulating data from primary interviews, industry publications, and proprietary databases to ensure accuracy and reliability of market valuations.
- Detailed Segmentation And Revenue Analysis
- The report offers a granular breakdown of the FPS market by Type, Water Depth, Hull Type, and Deployment Type. Each segment's revenue contribution is meticulously analyzed, providing insights into their growth drivers, market share, and future potential. This detailed segmentation helps identify high-growth areas and informs targeted investment strategies.
- Regional And Country-Level Insights
- A thorough examination of regional market dynamics across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa is included. Country-specific analyses highlight unique market drivers, regulatory landscapes, and investment opportunities, contrasting mature markets with emerging growth hubs.
- Competitive Benchmarking Of Key Players
- Profiles of leading FPS market participants, including SBM Offshore, MODEC, and BW Offshore, are provided. This section benchmarks their strategic initiatives, product portfolios, recent developments, and market positioning, offering a comprehensive understanding of the competitive landscape and key differentiators.
- Customization Options Based on Specific Requirements
- Clients can request customization to tailor the report content to their specific needs, including deeper dives into particular segments, regions, or competitive analyses. This flexibility ensures the report delivers maximum relevance and value, with options for additional data points or focused strategic insights.
Recent Industry Insights
The Floating Production Systems (FPS) industry has witnessed significant developments over the past 12-18 months, reflecting a dynamic response to global energy demands and technological shifts. There's been a notable uptick in new project sanctioning, particularly in deepwater basins, driven by sustained oil prices and improved drilling efficiencies. Partnerships and collaborations between operators and FPS contractors have intensified, aiming to de-risk complex projects and optimize asset utilization. Product and technology launches have focused on enhancing the environmental performance of FPS units, with innovations in emissions reduction and water treatment gaining traction. Regulatory changes, especially regarding decommissioning and carbon footprint, are also influencing design and operational strategies. These Floating Production Systems (FPS) industry trends indicate a forward-looking sector adapting to both economic realities and sustainability imperatives, paving the way for more resilient and efficient offshore production solutions.
Key Market Developments
- October 2025: MODEC Inc. secured a major contract for the supply of an FPSO vessel for a deepwater project in the Brazilian pre-salt region, reinforcing its leadership in the Latin American market.
- August 2025: SBM Offshore N.V. announced a new digital twin solution for its FPSO fleet, aiming to enhance operational efficiency and predictive maintenance capabilities across its global assets.
- June 2025: Yinson Holdings Berhad partnered with a consortium to develop a floating storage and regasification unit (FSRU) project off the coast of Vietnam, diversifying its portfolio into the growing LNG sector.
- April 2025: Keppel Offshore & Marine Ltd completed the conversion of an FPSO for deployment in the North Sea, showcasing expertise in asset repurposing and life extension projects for mature fields.
- February 2025: TechnipFMC plc unveiled a new generation of high-pressure subsea processing equipment, designed to integrate seamlessly with FPS units for ultra-deepwater applications, improving recovery rates.
Analyst Opinion
The Floating Production Systems (FPS) market presents an attractive investment proposition, driven by the persistent global demand for energy and the increasing reliance on deepwater hydrocarbon reserves. Despite the broader energy transition, FPS solutions remain indispensable for unlocking complex offshore fields that are otherwise inaccessible, cementing their role in the long-term energy mix. The competitive intensity is moderately consolidated, with established players holding significant technological and operational advantages. This creates a high barrier to entry, favoring companies with proven track records, robust safety protocols, and strong financial backing. The demand-supply balance for FPS units is currently stable, with new orders primarily driven by strategic deepwater projects and the need to replace aging infrastructure. Operators are increasingly prioritizing flexibility, cost-efficiency, and environmental performance, pushing FPS providers to innovate in areas such as modular design, digital integration, and emissions reduction. The market outlook for Floating Production Systems (FPS) is positive, underpinned by a consistent pipeline of projects in key regions and the strategic importance of offshore resources for global energy security.
Looking at the long-term outlook, the FPS market is poised for sustained growth, albeit with an increasing emphasis on sustainability and operational resilience. The innovation landscape is dynamic, with significant R&D efforts directed towards enhancing subsea processing capabilities, improving energy efficiency of topside facilities, and developing solutions for carbon capture and storage integration. This technological evolution will be crucial for FPS units to remain competitive and compliant with future environmental regulations. Key risk factors include the volatility of crude oil prices, which can impact investment decisions and project sanctioning, and geopolitical instabilities that affect offshore exploration licenses and operational security. Furthermore, supply chain disruptions and the availability of specialized skilled labor pose ongoing challenges. For strategic implications, companies must focus on diversifying their service offerings, investing in green technologies, and building strong collaborative partnerships to mitigate risks and capitalize on emerging opportunities in frontier regions. The ability to adapt to evolving market conditions and integrate advanced digital solutions will be paramount for securing a leading position in the future Floating Production Systems (FPS) market.