Portland, OR, April 12, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global aerospace robotics market was accounted for $2.9 billion in 2020, and is estimated to reach $9.2 billion by 2030, growing at a CAGR of 12.6% from 2021 to 2030.
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Aerospace Robotics Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2021–2030 |
| Base Year | 2020 |
| Market Size in 2020 | $2.9 Billion |
| Market Size in 2030 | $9.2 Billion |
| CAGR | 12.6% |
| No. of Pages in Report | 245 |
| Segments covered | Technology, Application, Type, and Region |
| Drivers | Rise in demand for automation for efficient aircraft production |
| Surge in use of robotics to handle aircraft order backlog | |
| Opportunities | Advancements in technology |
| Restrains | Dearth of skilled workforce |
Covid-19 scenario:
- During the pandemic, governments imposed strict lockdown and ban on import and export of raw materials. This affected the manufacturing activities of robotics in aerospace industry negatively.
- The disrupted supply chain and delay in activities and initiatives about development of advanced aerospace robotics components hindered the market growth.
The report divides the global aerospace robotics market on the basis of type, technology, application, and region.
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Based on type, the articulated segment held the largest share in 2020, accounting for more than half of the market. In addition, the segment is projected to manifest the highest CAGR of 12.9% during the forecast period. The report also analyzes the segments including Cartesian and others.
On the basis of technology, the traditional segment held the lion’s share in 2020, contributing to nearly two-thirds of the market. However, the collaborative segment is estimated to portray the highest CAGR of 13.8% from 2021 to 2030.
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The report offers an analysis of the global aerospace robotics market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 14.8% during the forecast period.
The global aerospace robotics market report includes an in-depth analysis of the prime market players such as ABB, Electroimpact Inc., AV & R, JH Robotics, Inc., Fanuc Corporation, Mitsubishi Electric Corporation, KUKA AG, Universal Robots A/S, OC Robotics, and Yaskawa Electric Corporation.
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