New York, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Airport robots Market: Key Insights
According to our new research study on “Airport Robots Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application and Geography,” the Airport Robots Market Size is projected to reach US$ 2,108.29 million by 2028 from US$ 426.25 million in 2020; it is expected to register a CAGR of 22.4% during 2021–2028.
Airport Robots Market: Competitive Landscape and Key Developments
YUJIN ROBOT Co., Ltd.; Avidbots Corp.; Cyberdyne Inc.; SoftBank Robotics; Stanley Robotics SAS; SITA; ABB Ltd.; ECA Group; LG Electronics; and UVD Robots are among the key players that are profiled during this market study. In addition to these players, several other essential market players were studied and analyzed to get a holistic view of the global airport robots market and its ecosystem.
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In 2020, the deployment of the world's first outdoor car park totally operated by robots, built by Stanley Robotics and VINCI Airports, continues at Lyon Airport, with the number of accessible places anticipated to expand from 500 to 2,000. Seven autonomous robots will operate the service at the same time, with 28 cabins accessible for dropping off and picking up vehicles.
The airport robots market is experiencing significant growth owing to increasing importance for security at airports. However, the high cost of robots hampers their adoption, especially at small airports in developing or under-developed countries. Meanwhile, the number of air passengers worldwide has increased due to surge in business travel and leisure travel. With the growing footfall at airports, the airport authorities are investing significantly in advanced technologies, including robotics, for streamlining their operations. According to a survey conducted by the Air Transport IT Insights, ~32% of airports in the world are in the favor of increasing robotics involvement in their operations.
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In 2020, APAC led the market, followed by Europe and North America, respectively. Governments of North American countries are emphasizing on the expansion and enhancement of the infrastructure of airports. They have also increased the overall investments for this purpose, with a major focus on adopting advanced technologies such as robotics. The US leads the airport robots market in North America. The highly advanced and autonomous airport robots are well equipped with latest components such as sensors, cameras, and mapping technologies.
Developing countries have become a hub of opportunities for various markets, including the airport robots market. Government authorities in these countries are planning and investing huge amount in the advancement of technologies for improving the overall infrastructure. Transportation and logistics activities are huge contributors to the development of any country, and therefore, developing countries are extensively focusing on enhancing and improving their transportation and logistics infrastructure, including air, road, and sea transport. Airways is an important mode of transportation; hence, governments of developing countries have planned development and revamping of various mid-size and large airports. For instance, in India, Netaji Subhas Chandra Bose International Airport in Kolkata has laid down an expansion plan of the airport. Similarly, Vietnam is planning to build one of the largest airports near its economic hub Ho Chi Minh City. Other countries such as the Philippines and Kuwait are also expanding and revamping airports. As a part of expansion and revamping strategy, these airports would also be passing tenders on acquiring technologically advanced equipment including robots for ensuring convenience and providing superior experience to passengers. Hence, the airport robot market players have huge opportunities to offer best-in-class, and highly reliable and cost-efficient robots for such new airport projects.
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Airport Robots Market: Application Overview
The airport robots market, by application, is segmented into landside/ valet parking and terminal. The airport robots deployed in the landside/ valet parking segment are mainly used in valet parking applications. Further, in the terminal segment, air robots are deployed in airport security and cleaning, boarding pass scanning, airport baggage systems, and passenger guidance applications
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