The Aerospace Robotics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Aerospace Robotics Global Market Report 2024, The aerospace robotics market size has grown rapidly in recent years. It will grow from $4.07 billion in 2024 to $4.64 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to global economic growth, increase in commercial air traffic, rise in automation, rise in demand for product customization, labor shortages.
The aerospace robotics market size is expected to see rapid growth in the next few years. It will grow to $7.52 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to increasing use of unmanned aerial vehicles (uavs), growing demand for space exploration, increasing investments in research and development, shorter production cycles, . Major trends in the forecast period include integration of ai and machine learning, swarm robotics, human-robot collaboration, exoskeletons and wearable robotics, collaborations and partnerships.
The increase in commercial air traffic is expected to drive the aerospace robotics market during the forecast period. Aerospace robotics offer high precision and performance in the construction of aircraft engines, drilling and painting airframes, precise fiber cutting and placement. The growing middle-class population and the emergence of low-cost airlines offering competitive prices in developing economies is expected to contribute to airline activity, thus increasing demand for aircrafts during the period. For instance, according to Boeing’s 2020-2039 commercial market outlook, India’s domestic air passenger market is expected to double its size by 2030, from the pre-pandemic levels, creating demand for an additional 2,200 new commercial aircrafts in the next 20 years in India, thus driving the growth of the aerospace robotics market during the period.
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The aerospace robotics market covered in this report is segmented –
1) By Type: Articulated, Cartesian, Other Types
2) By Technology: Conventional, Collaborative
3) By Component: Controller, Sensors, Drive, Arm Processor, End Effector
4) By Payload: Small-Medium Payloads Robots, Large Payloads Robots, Extra Large Payloads Robots
5) By Application: Drilling, Welding, Painting, Inspection, Other Applications
Companies in the aerospace robotics market are focusing on technological advancement to accelerate and develop robotics and process technologies for the next generation of energy-efficient aircrafts. The aerospace industry rapidly adopts novel technologies such as the integration of robotics with 3D visualization, Internet of Things (IoT), artificial intelligence (AI), and cloud computing solutions to enhance the performance and productivity of predefined operations in the aerospace sector. In addition, robotic technology complements human-robot collaboration and reduces the turnaround time of the manufacturing process. For instance, in February 2021, Ai Build, a UK-based AI robotic 3D printing developer raised $1 million to scale its AI-based robotic technology to global aerospace and automotive sectors and speed up the large-scale 3D printing across these sectors. Through robotic systems with cloud-based software AiSync, it enables a large-scale 3D printing in aerospace and automotive sectors.
The aerospace robotics market report table of contents includes:
- Executive Summary
- Aerospace Robotics Market Characteristics
- Aerospace Robotics Market Trends And Strategies
- Aerospace Robotics Market – Macro Economic Scenario
- Global Aerospace Robotics Market Size and Growth
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- Global Aerospace Robotics Market Competitive Benchmarking
- Global Aerospace Robotics Market Competitive Dashboard
- Key Mergers And Acquisitions In The Aerospace Robotics Market
- Aerospace Robotics Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- KUKA Aktiengesellschaft
- ABB Group
- FANUC Corporation
- Yaskawa Electric Corporation
- Kawasaki Heavy Industries Ltd
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