Pune, India, April 26, 2023 (GLOBE NEWSWIRE) -- The global aerospace robotics market size was valued at USD 2.66 billion in 2019 and is projected to reach USD 7.78 billion by 2027, exhibiting a CAGR of 20.49% during the forecast period.
This report provides a comprehensive analysis of the current and future market trends of robotics applications in the aerospace industry. The report covers various factors that drive the market growth, such as the increasing demand for automation, reduced operating costs, and improved productivity. Additionally, the report highlights the challenges faced by the market, such as the high initial cost of robotics systems and the lack of skilled workforce.
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List of Key Players Profiled in the Aerospace Robotics Market Report:
- ABB Group (Switzerland)
- Electroimpact Inc. (The U.S.)
- Fanuc Corporation (Japan)
- Gudel AG (Switzerland)
- Kawasaki Robotics (The U.S.)
- KUKA AG (Germany)
- Oliver Crispin Robotics Ltd. (The U.K)
- TAL Manufacturing Solutions Limited India (India)
- Universal Robotics A/S (Denmark)
- Yaskawa Electric Corporation (Japan)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 20.49% |
| 2027 Value Projection | USD 7.78 billion |
| Market Size in 2019 | USD 2.66 billion |
| Historical Data | 2016-2018 |
| No. of Pages | 150 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Aerospace Robotics Market Growth Drivers | Increasing Investment in Aerospace Robotics to Boost Growth |
| Rising Demand for Collaborative Robots across Aerospace Industry will Favor Growth |
Browse Detailed Summary of Research Report with TOC:
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Segment-
Hardware Segment to Show Rapid Growth Fueled by High Demand for Sensors & Controllers
Based on solution, the market is segregated into services, software, and hardware. Out of these, the hardware segment generated 57.33% in terms of aerospace robotics market share in 2019. This growth is attributable to the increasing demand for sensors, arm processors, and controllers to accelerate the sales of aerospace robotics solutions.
COVID-19 Impact:
The emergence of the COVID-19 pandemic is causing uproar in a wide range of industries owing to the complete shutdown of production processes. Some of them have also started to lay off workers as they are facing a severe economic crisis. Until a vaccine is discovered, we are unsure of the upcoming situations. But, the market for aerospace robotics is set to exhibit positive growth amid this pandemic owing to the increasing usage of robots in manufacturing processes to avoid direct contact of people. Our reports are specially created to help you protect your businesses in the ‘new normal.’
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints-
Investments in R&D Activities to Develop AI-based Robots will Aid Growth
Several countries worldwide, such as Japan, Germany, South Korea, China, France, and the U.S. are extensively investing in research and development activities to develop novel AI-enabled robots. The South Korean government, for instance, planned to invest approximately USD 450 million in 2017 for the aerospace robotics sector. The main aim of this investment was to create an intelligent robot. However, for small and medium-sized enterprises (SMEs), a robot automation project can be challenging. Also, the operators must be trained to maintain and program these robots. These factors may hamper the aerospace robotics market growth in the near future.
Regional Analysis-
High Expenditure to Modernize Aircraft Manufacturing Units in North America to Drive Growth
In 2019, North America procured USD 1.01 billion in terms of revenue. It is set to be the fastest-growing region throughout the forthcoming period backed by the presence of a large number of industry giants, such as Electro impact Inc. and Kawasaki Robotics in the region. Apart from that, the U.S. is experiencing high investments in the modernization programs to improve its aircraft manufacturing units. Europe, on the other hand, is likely to hold the second-largest position because of the higher adoption of Internet of Things (IoT)-based aerospace robotics solutions.
Competitive Landscape-
Key Players Focus on Product Launches & Acquisition Strategies to Intensify Competition
The market consists of numerous reputed organizations that are persistently striving to gain a competitive edge by introducing new aerospace robotics solutions equipped with the latest technologies. Some of the others are also engaging in acquisitions to expand their portfolios and geographical footprints. Below are two of the latest industry developments:
- August 2019: Epson Robots declared the launch of its AutomateEliteSM Authorized System Integrator Program. It was put under the Epson Advantage Partner Program. It would help them in surging its business through the sales of their robots. At the same time, it would enable customers to easily search for the most effective system integrators for their automation projects.
- July 2017: ABB successfully acquired Bernecker + Rainer Industrie-Elektronik GmbH (B&R) to broaden its position in industrial automation.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Aerospace Robotics Market
- Impact of the COVID-19 pandemic on the global aerospace robotics Market
- Steps taken by Industry/ Companies/ Governments to overcome the impact
- Key Developments in the Industry in Response to COVID-19 pandemic
- Potential opportunities due to COVID-19 Outbreak
- Global Aerospace Robotics Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Application
- Material Handling
- Surface Treatment
- Composites Applications
- Assembly
- Others
- By Robot Type
- Articulated Robots Market
- Linear/Cartesian Robots
- Parallel Robots
- Selective Compliance Assembly Robot Arm (SCARA) Robots
- Others
- By Technology
- Conventional Technology
- Collaborative Technology
- By Solution
- Hardware
- Controller
- Arm Processor
- Sensors
- Drive
- Others
- Software
- Application Based Software
- System Based Software
- Cloud-Based Software
- Planning, Service, Safety, Project Engineering Software
- Services
- Hardware
- By Payload
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- Small - Medium Payloads Robots (2kg To 100 Kg)
- Large Payloads Robots (100kg to 200kg)
- Extra Large Payloads Robots (200 Kg to 1,500kg)
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- By Region
- North America
- Europe
- Asia pacific
- The Middle East & Africa
- South America
- By Application
TOC Continued...!
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Key Industry Development:
July 2021: Fanuc Corporation announced a significant milestone in the robotics industry as it began the production of its 750,000th industrial robot. FANUC Corporation has a diverse customer base spanning across industries such as automotive, aerospace, food and beverage, consumer goods, medical and pharmaceutical, warehousing, and many others.
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