Yahoo Finance Aerospace Robotics Market Size Hit USD 7.78 Billion by 2027 | Aerospace Robotics Industry Striking Growth in United States, France, China, South Korea, Germany, Japan and ROW
According to Fortune Business Insights, the global aerospace robotics market size is projected to reach USD 7.78 billion by 2027, at CAGR of 20.49% during forecast period 2020-2027 | Investments in R&D Activities to Develop AI-based Robots will Aid Growth
Pune, India, Aug. 08, 2022 (GLOBE NEWSWIRE) -- 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 & Industry Analysis, and Regional Forecasts, 2020-2027.” The report further mentions that the aerospace robotics 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.
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.
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Fortune Business Insights™ lists out the names of all the prominent aerospace robotics manufacturers operating in the global market. They are as follows:
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 Coverage | Details |
Forecast Period | 2020-2027 |
Forecast CAGR | 20.49% |
2027 Value Projection | USD 7.78 Billion |
Base Year | 2019 |
Historical Data | 2016-2018 |
No. of Pages | 150 |
Segments Covered | By Type, Application, Solution |
Aerospace Robotics Market Growth Drivers | Investments in R&D Activities to Develop AI-based Robots will Aid Growth |
Key Players Focus on Product Launches & Acquisition Strategies to Intensify Competition |
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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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.
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.
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.
Browse Detailed Summary of Research Report with TOC:
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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
By Payload
Small - Medium Payloads Robots (2kg To 100 Kg)
Large Payloads Robots (100kg to 200kg)
Extra Large Payloads Robots (200 Kg to 1,500kg)
By Region
North America
Europe
Asia pacific
The Middle East & Africa
South America
TOC Continued…!
Below are two of the latest industry developments:
August 2019: Epson Robots declared the launch of its Automate Elite SM 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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The Study Objectives of this report are:
To analyze the worldwide aerospace robotics market size by product types, applications, and regions.
To comprehend the design by recognizing its different sub-fragments.
To study flooring market by individual manufacturers' growth, and future trends.
To study Product Overview and Scope of segment, Revenue Sales Status, and Outlook
To understand market Upstream and Downstream analysis
To understand the Market Competitive Situation and Trends
To understand market Drivers, Restraints, Opportunities, and Challenges faced by Flooring Market
To analysis new product and new technology release
Analysis of Industry Development Trends under COVID-19 Outbreak
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