The market size of aerospace robots reaches 7.78 billion US dollars

The market size of aerospace robots reaches 7.78 billion US dollars

Pune, India, November 3, 2022 (GLOBE NEWSWIRE) – Global space robotics market It is expected to gain momentum from the increasing adoption of artificial intelligence (AI) by companies for aircraft maintenance. This information is provided by Fortune Business Insights™ In a new report entitledAerospace Robots Market Size, Share and Industry Analysis, Regional Forecast, 2020-2027. The report further states that the space robots market size was 2.66 billion USD In 2019 is expected to reach 7.78 billion US dollars By 2027, show a Compound annual growth rate of 20.49% during the forecast period.

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Fortune Business Insights™ lists all the prominent aerospace robot manufacturers operating in the global market. They are as follows:

  • ABB Group (Switzerland)
  • Electroimpact Inc. (United State)
  • Fanuc Corporation (Japan)
  • Gudel AG (Switzerland)
  • Kawasaki robots (USA)
  • KUKA AG (Germany)
  • Oliver Crispin Robotics Ltd. (United kingdom)
  • TAL Manufacturing Solutions Limited India (India)
  • Universal Robotics A/S (Denmark)
  • Yaskawa Electric Corporation (Japan)

Report scope and segmentation:

Report coverage details
prediction period 2020-2027
Forecast compound annual growth rate 20.49%
2027 Value Drop 7.78 billion US dollars
base year 2019
Historical data 2016-2018
number of pages 150
covered slices By type of robot, by solution, by application
Aerospace Robots Market Regional Analysis Spending rises to modernize North American aircraft manufacturing units to drive growth

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The hardware sector to show rapid growth fueled by the high demand for sensors and controllers

Based on the solution, the market is segmented into services, software, and hardware. Of these, the hardware segment achieved 57.33% of the aerospace robotics market share in 2019. This growth is attributed to the growing demand for sensors, arm processors, and controllers to accelerate sales of aerospace robotics solutions.

Regional Analysis-

High refresh spend North American aircraft manufacturing units to drive growth

In 2019, North America bought $1.01 billion in revenue. The region is set to be the fastest growing during the coming 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 US is seeing high investments in modernization programs to improve aircraft manufacturing units. On the other hand, Europe is likely to rank second due to the high adoption of space robotics solutions based on the Internet of Things (IoT).

Drivers and restrictions-

Investments in research and development activities to develop AI-based robots will help grow

Many countries around the world, such as Japan, Germany, South Korea, China, France and the United States are investing extensively in research and development activities to develop new robots that support artificial intelligence. The South Korean government, for example, planned to invest nearly $450 million in 2017 for the space robotics sector. The main objective of this investment was to create a smart robot. However, for small and medium-sized enterprises (SMEs), a robot automation project can be challenging. Also, operators must be trained in the maintenance and programming of these robots. These factors may hinder the growth of the space robotics market in the near future.

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Detailed table of content:

  • an introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • market dynamics
    • Market Drivers
    • market restrictions
    • Market Opportunities
  • the main ideas
    • Key Industry Developments – Major Contracts, Agreements, Mergers, Acquisitions, and Partnerships
    • The latest technological advances
    • Porter’s Five Forces Analysis
    • Supply Chain Analysis
  • Quantitative Insights – Impact of the COVID-19 Pandemic on the Global Aerospace Robots Market
    • Impact of the COVID-19 pandemic on the global aerospace robots market
    • Steps taken by industry/companies/governments to overcome the impact
    • Key developments in the industry in response to the COVID-19 pandemic
    • Potential opportunities due to the COVID-19 outbreak
  • Global Aviation Robots Market Analysis, Insights and Forecast, 2016-2027
    • Main results / summary
    • Market size estimates and forecasts
      • According to the application
        • material handling
        • surface treatment
        • Vehicle Applications
        • crowd
        • Aharon
      • By type of robot
        • articulated robotics market
        • Linear/Cartesian robots
        • Parallel robots
        • Selective Compliance Assembly (SCARA) robotic arm robots
        • Aharon
      • by technology
        • traditional technology
        • collaborative technology
      • according to the solution
        • hardware
          • observer
          • arm healer
          • sensors
          • leader
          • Aharon
        • Programming
          • Application based software
          • System based software
          • Cloud-based software
          • Planning, Service, Safety and Project Engineering Programs
        • Services
      • by payload
          • Small – medium payload robots (2 kg to 100 kg)
          • Big payload robots (100kg to 200kg)
          • Robots for very large payloads (200 kg to 1500 kg)
      • by region
        • North Amarica
        • Europe
        • Asia Pacific
        • Middle East and Africa
        • South america

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Here are two of the latest industry developments:

  • August 2019: Epson Robots has announced the launch of its Automate Elite SM certified system integration program. Placed under the Epson Advantage Partner Program. It will help them increase their business through sales of their bots. At the same time, it will enable customers to easily search for the most effective system integrators for their automation projects.
  • July 2017: ABB has successfully acquired Bernecker + Rainer Industrie-Elektronik GmbH (B&R) to expand its footprint in industrial automation.

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Competitive scene-

Key players focus on product launches and acquisition strategies to intensify competition

The market consists of many reputable organizations that are constantly striving to gain a competitive advantage by offering new aerospace and robotics solutions equipped with the latest technology. Others are also engaging in acquisitions to expand their portfolio and geographic footprint.

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