launchora_img

Aerospace Robotics Market Top Companies, Business Growth, Key Applications, Demand

Info

The global aerospace robotics market size 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. 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.

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.’

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.

Browse Complete Report Summary:

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

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 ModernizeAircraft 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. Below are two of the latest industry developments:

August 2019: Epson Robots declared the launch of its AutomateEliteSM 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.

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)

"


Be the first to recommend this story!
launchora_img
More stories by Ashwini
Automatic Weapons Market Trends, Growth, Size, Seg...

The global Blockchain Supply Chain Finance Market size (2022-2027)

00
Automatic Weapons Market Top Companies, Business G...

The global automatic weapons market size is expected to reach USD 15.04 billion by 2027.

00
Ultrasonic Testing Market Key Players Analysis, Ov...

The global ultrasonic testing market size is projected to reach USD 3,671.9 million by 2027

00

Stay connected to your stories

Aerospace Robotics Market Top Companies, Business Growth, Key Applications, Demand

21 Launches

Part of the Culture collection

Published on June 14, 2022

Recommended By

(0)

    WHAT'S THIS STORY ABOUT?

    Characters left :

    Category

    • Life
      Love
      Poetry
      Happenings
      Mystery
      MyPlotTwist
      Culture
      Art
      Politics
      Letters To Juliet
      Society
      Universe
      Self-Help
      Modern Romance
      Fantasy
      Humor
      Something Else
      Adventure
      Commentary
      Confessions
      Crime
      Dark Fantasy
      Dear Diary
      Dear Mom
      Dreams
      Episodic/Serial
      Fan Fiction
      Flash Fiction
      Ideas
      Musings
      Parenting
      Play
      Screenplay
      Self-biography
      Songwriting
      Spirituality
      Travelogue
      Young Adult
      Science Fiction
      Children's Story
      Sci-Fantasy
      Poetry Wars
      Sponsored
      Horror
    Cancel

    You can edit published STORIES

    Language

    Delete Opinion

    Delete Reply

    Report Content


    Are you sure you want to report this content?



    Report Content


    This content has been reported as inappropriate. Our team will look into it ASAP. Thank You!



    By signing up you agree to Launchora's Terms & Policies.

    By signing up you agree to Launchora's Terms & Policies.