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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

/EIN News/ -- 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:

https://www.fortunebusinessinsights.com/aerospace-robotics-market-103324

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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