Aerospace Robotics Market to Reach USD 31.58 Billion by 2030, at a CAGR of 11.7% - Report by Market Research Future
Market Research Future
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Market Research Future
Aerospace Robotics Market Research Report Information By Type (Traditional Robots[Articulated, Parallel, Linear/Cartesian, Scara, and Others], and Collaborative Robots), By Component (Controller, Sensor, Drive, and End Effector(Welding Guns, Grippers, Robotic Screwdrivers, Sanding & Deburring Tool, Specialty & Hybrid End Effectors, and others)),By Payload (up to 16.00 kg, 16.01–60.00 kg, 60.01–225.00 kg, and more than 225.00 kg), By Application (Drilling & Fastening, Non-Destructive Testing & Inspection, Welding & Soldering, Sealing & Dispensing, Handling, Assembling & Disassembling, and others), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Forecast till 2030
New York, US, May 20, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), the global Aerospace robotics market expected to reach value at USD 31.58 Billion by 2030 and will grow at an 11.7% CAGR by 2030. The primary market drivers pushing market expansion are rising demand, increased awareness of sustainability in fashion, and government backing.
Aerospace Robotics Market Overview :
Drivers: Growing Need for Automation for Effective Aircraft Production to Boost Market Growth
Aerospace businesses prioritize operational process automation to lower costs, save time, produce high-quality goods, and boost productivity in order to compete in a fierce market. Aerospace robots automate the internal operations and lighten the strain on staff by collaborating with them for increased effectiveness. Boeing Company, Pratt & Whitney, GKN Aerospace, and Airbus are among the businesses that concentrate on using robots in the production of aerospace components.
Technological Advances to offer Robust Opportunities:
Future growth in the aerospace robotics market is anticipated due to the introduction of novel technologies. Artificial intelligence, cloud computing, 3D vision technology, and other advancements improve the capabilities of robotic equipment employed in the aircraft sector. Robots equipped with cutting-edge ultrasonic & metrology inspection technologies assist with tasks like inspecting fasteners, cracks, and delamination during assembly in the aviation manufacturing sector. Due to the growth of the Internet of Things (IoT), modern industrial robots may also interact with others for a better production process.
Market Segmentation:
The global aerospace robotics market is bifurcated based on application, payload, component, and type.
By type, articulated will lead the market over the forecast period.
By component, end effector will domineer the market over the forecast period.
By payload, up to 16.00 kg will spearhead the market over the forecast period.
By application, the market is bifurcated into handling, sealing and dispensing, welding and soldering, non-destructive testing and inspection, drilling and fastening, and others.
Restraints and Challenges:
The high cost of installing robotic systems coupled with the dearth of skilled workforce may act as market restraints over the forecast period.
COVID-19 Analysis:
The COVID-19 pandemic has had a huge influence on the aerospace robotics market. The outbreak significantly reduced the need for air travel that in turn reduced the demand for the development and upkeep of new aircraft. The demand for aerospace robots has decreased, which has been observed by suppliers and manufacturers in the aerospace sector as a result of financial difficulties and supply chain disruptions. Additionally, because of the pandemic, social isolation regulations and travel restrictions have been implemented, which has had an effect on how aircraft companies and their suppliers operate. This has slowed down the implementation of new projects and reduced the usage of robotics in aerospace sector. The outbreak has nevertheless also shown how important automation is to lowering human interaction and raising safety in the aviation industry.
This has increased awareness of the requirement for collaborative robots & other cutting-edge automation technology in the aerospace sector. In the end, the COVID-19 epidemic has had both beneficial and bad effects on the aircraft robotics industry. Although the pandemic has decreased demand, it has also highlighted the need for innovation and automation in the aviation industry, which may help to increase the market for aerospace robots in the future.
Asia-Pacific held the top spot in the market in 2021, and throughout the forecast period, the market there is anticipated to grow at the greatest CAGR. The need for robots in the area is being driven by the expanding aerospace sector in nations like China, India, and Japan. With strong regional economic growth, expanding domestic manufacturing, and large investments from top industry companies looking at prospective expansion prospects in the area, nations like India, China, and Japan are driving the Asia-Pacific market.
North America to Have Admirable Growth in Aerospace Robotics Market
The expansion of the market in North America is being fueled by rising worldwide demand for and production of aeroplanes, as well as rising robotics utilization in the industry. The market for aerospace robotics was dominated by North America in 2018 and is anticipated to remain so during the projected period. The market is fueled by the presence of large aircraft manufacturers and manufacturers of aviation parts in the region, as well as by the rising need for commercial aircraft that is pushing aircraft manufacturers to use robotics and industrial automation to increase their monthly output.
North America is the greatest market for aerospace robots because American investment on updating its aircraft linear units has increased significantly. Additionally, the market development in the US is being fueled by the presence of top suppliers like Kawasaki Robotics and Electro Impact Inc. Additionally, the government would prioritize spending on high-tech robotics, which is anticipated to increase market demand throughout the projection period. Due to the existence of several industry behemoths, like Kawasaki Robotics and Electro Impact Inc., it is predicted to see the quickest growth throughout the next time. In addition, the United States is making significant expenditures in modernization projects to upgrade its facilities for making aeroplanes.
Latest Industry Update:
May 2023- At the forthcoming Automate 2023 trade event in Detroit, Michigan, Ascent Aerospace, a top supplier of factory automation, aerospace tooling systems, and integration services, will be announcing its cooperation with True Position Robotics (TPR). The top robots and automation providers and buyers from across the globe will be present at the event, which runs from May 22 to May 25.
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