Aerospace Robotics Market Overview:
Aerospace Robotics Market is projected to grow $5,687 million by 2022, growing at a CAGR of 17.2%. The robotics technology is used in aerospace industry for variety of applications during the manufacturing of aircraft components including welding, drilling, painting, material handling, cutting, assembly automation, and fabrication of engines. The aerospace robotics market offers automation, precision, and accuracy in repetitive tasks done in the manufacturing procedure.
Global Aerospace Robotics industry has witnessed rapid growth in the recent years, owing to growing need of automation for the efficient aircraft production. In addition, increasing labor cost across the world contributes to the market growth. However, lack of skilled workforce and high installation cost of robotic devices hamper the market growth. Moreover, upsurge in IoT (Internet of Things) trends in aircraft manufacturing companies and high paced growth in aerospace industry globally are expected to create numerous opportunities for the market during the forecast period.
The global aerospace robotics industry is expected to grow at a prominent rate during the forecast period. Technological advancements, including nanotechnology, 3D vision technology, artificial intelligence, cloud computing, drive growth of the collaborative robots in the aerospace sector. Government expenditure for the development of aerospace and defense sector is one of the major factors that drives the market growth in North America. There is continuous economic development among various countries such as India, China, Malaysia, and Singapore, which is expected to provide numerous growth opportunities in Asia-Pacific region.
The prominent players profiled in the report include ABB Group, KUKA AG, Fanuc Corporation, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, JH Robotics, Inc., Oliver Crispin Robotics Limited, Electroimpact Inc., Universal Robots A/S, AV&R Vision & Robotics Inc.
The global aerospace robotics market is segmented on the basis of type, technology, application, and geography. Based on type, the market is divided into articulated, cartesian, and others (cylindrical, spherical, SCARA, and parallel). Based on technology, the market is further categorized into traditional and collaborative. The market is segmented on the basis of application as drilling, welding, painting, inspection, others (cutting, assembly automation, and material handling). The aerospace robotics market is segmented based on four regions, which include North America, Europe, Asia-Pacific, and LAMEA.
Source: Primary Research, Company Releases, Government Publications, and AMR Analysis
In 2015, the articulated type segment dominated the global aerospace robotics market owing to the huge utilization in the aircraft manufacturing process that includes arc welding, material handling, dispensing, material removal, and deburring. Collaborative technology segment is expected to grow at the fastest rate during the forecast period primarily due to the increasing investments for automation by aircraft manufacturing companies. In addition, North America generated the highest revenue in the global aerospace robotics market in 2015, owing to the government expenditure for the growth of aerospace and defense sector in the region.
Global Aerospace Robotics Market Top Impacting Factors
Source: Primary Research, Company Releases, and AMR Analysis
Factors that affect the growth of the aerospace robotics market include the need for automation of efficient aircraft production and the growing use of robotics to handle aircraft order backlog. Aerospace robots automate internal processes, perform repetitive tasks with accuracy, and reduce the workload of employees by working in collaboration with workers. Various companies such as Airbus Group, The Boeing Company, and Bombardier Inc., are implementing automation and robotics technologies in their manufacturing processes for efficient production of aircraft and to handle order backlogs. However, lack of skilled workforce to develop and implement robotics technology restricts the growth of the aerospace robotics market. Moreover, the growing aerospace industry at a high pace and technological advancements such as 3D vision technology, Internet of Things (IoT), artificial intelligence, and cloud computing is likely to provide huge growth opportunities to the market. Each factor has its definite impact on the aerospace robotics market.
- The study provides an in-depth analysis of the aerospace robotics market along with current and future trends to elucidate the imminent investment pockets.
- Information regarding key drivers, restraints, and opportunities along with their impact analysis on the aerospace robotics industry is discussed.
- Porters Five Forces analysis of the aerospace robotics industry illustrates the potency of buyers and suppliers participating in the global aerospace robotics market.
- The quantitative analysis of the market from 2014 to 2022 is provided to elaborate the market potential.
- The market shares and key strategies of market players has been comprehensively analyzed in the market report.
Aerospace Robotics Market Key Segments
The global aerospace robotics market is segmented based on type, technology, application, and geography.
- Others (Cylindrical, Spherical, SCARA, and Parallel)
- Others (Cutting, Assembly Automation, and Material Handling)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled in the Report
- ABB Group
- KUKA AG
- Fanuc Corporation
- Yaskawa Electric Corporation
- Mitsubishi Electric Corporation
- JH Robotics, Inc.
- Oliver Crispin Robotics Limited
- Electroimpact Inc.
- Universal Robots A/S
- AV&R Vision & Robotics Inc.
Other Companies Mentioned in the Report
- GKN Aerospace
- Boeing Company
- Pratt & Whitney
- GKN Plc
- Airbus Group
- Bombardier Inc.
- Daher Aerospace SAS