Aerospace Robotics Market Industry Share, Size, Future Demand, Global Research, Top Leading Players, Emerging Trends, Region by Forecast to 2027
The global aerospace robotics market is expected to gain
impetus from the increasing adoption of artificial intelligence (AI) by
companies for the maintenance of aircraft. This information is given by Fortune
Business Insights™ in a new report, titled, “Aerospace
Robotics Market Size, Share & COVID-19 Impact Analysis, By Application
(Material Handling, Surface Treatment, Composites Applications, Assembly, and
Others), By Robot Type (Articulated, Linear, Parallel, SCARA, and Others), By
Technology (Conventional, Collaborative), By Solution (Hardware, Software, and
Services), By Payload (Small - Medium Payloads Robots, and Others), and Regional
Forecasts, 2020-2027.” The report further mentions that the market
size was 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.
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, this market 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.’
What Does This Report Contain?
- Analysis &
forecast of the global market on a regional level.
- Historic,
current, and estimated market sizes.
- Restraining
& driving factors, as well as their impact on the demand for aerospace
robotics.
- An in-depth
study of opportunities available in the market.
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.
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.
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.
Browse Detailed Research Insights:
https://www.fortunebusinessinsights.com/aerospace-robotics-market-103324
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.
Fortune Business Insights™
lists out the names of all the prominent manufacturers operating in the global
aerospace robotics market. They are as follows:
- ABB Group
(Switzerland)
- Electroimpact
Inc. (United States)
- Fanuc
Corporation (Japan)
- Gudel AG
(Switzerland)
- Kawasaki
Robotics (United States)
- KUKA AG
(Germany)
- Oliver Crispin
Robotics Ltd. (United Kingdom)
- TAL
Manufacturing Solutions Limited India (India)
- Universal
Robotics A/S (Denmark)
- Yaskawa Electric
Corporation (Japan)
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Read
Press Release:
https://www.fortunebusinessinsights.com/press-release/global-aerospace-robotics-market-10183
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