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Overview
The global aerospace robotics market will touch USD 31.58 billion at an 11.7% CAGR by 2030, as per the recent Market Research Future report.
Drivers
Growing Demand for Automation to Boost Market Growth
Airlines prefer to automate operational processes to reduce costs, save time, produce high-quality goods and increase productivity to compete in a fierce market. Aerospace robots are automating internal operations and relieving employees by collaborating with them to increase efficiency. The Boeing Company, Pratt & Whitney, GKN Aerospace and Airbus are among the companies focusing on the use of robots in the production of aircraft components.
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Key Players
Eminent industry players profiled in the global aerospace robotics market report include Kuka AG, ABB Group, FANUC Corporation, Yaskawa electric corporation, Kawasaki Heavy Industries Ltd, Mtorres, Oliver Crispin Robotics Limited, Gudel AG, Electroimpact Inc., Universal Robots A/S, STÄUBLI, COMAU, FESTO, and BOSTON DYNAMICS.
COVID-19 Analysis
The COVID-19 pandemic possessed a huge impact on the aerospace robotics market. The epidemic greatly reduced the need for air travel, which in turn reduced the demand for the development and maintenance of new aircraft. The demand for aerial robots has decreased, as suppliers and manufacturers in the aerospace sector have seen due to financial difficulties and supply chain disruptions.
Market Opportunities
Advances in Technology to offer Lucrative Opportunities
Due to the introduction of new technologies, the future growth of the aviation robotics market is expected. Artificial intelligence, cloud computing, 3D vision technology and other improvements are improving the capabilities of robotic equipment used in the aerospace sector. Equipped with state-of-the-art ultrasonic and metrology inspection technologies, robots help with tasks such as inspecting fasteners, cracks and delamination during assembly in the aerospace industry. Owing to the surge of the Internet of Things (IoT), modern industrial robots can also interact with others to improve the manufacturing process.
Market Restraints and Challenges
High Robotic Device Installation to act as Market Restraint
The high robotic device installation and dearth of experienced professionals may act as market restraints over the forecast period.
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Market Segmentation
The global aerospace robotics market is bifurcated based on application, payload, component, and type.
By type, SCARA will spur the market in the forecast period.
By component, end effector will spearhead the market over the forecast period.
By payload, up to 16.00 kg will domineer the market over the forecast period.
By application, drilling and fastening will lead the market over the forecast period.
Regional Analysis
North America to Head Aerospace Robotics Market
The growth of the North American market is supported by the increased global demand for and production of aircraft and the increased use of robotics in aircraft manufacturing operations. The growing need for increased operational efficiency, enhanced safety and new technological breakthroughs in the aviation industry is expected to drive the market in the region.
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