Pune, India, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The global aerospace robotics market 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, titled, “Aerospace Robotics Market Size, Share & Industry Analysis, and Regional Forecasts, 2020-2027.” 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.
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Fortune Business Insights™ lists 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)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 20.49% |
| 2027 Value Projection | USD 7.78 Billion |
| Base Year | 2019 |
| Historical Data | 2016-2018 |
| No. of Pages | 150 |
| Segments Covered | By Robot Type, By Solution, By Application |
| Aerospace Robotics Market Regional Analysis | High Expenditure to Modernize Aircraft Manufacturing Units in North America to Drive Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/aerospace-robotics-market-103324
Segment-
Hardware Segment to Show Rapid Growth Fuelled 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 Modernize Aircraft 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.
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.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Aerospace Robotics Market
- Impact of the COVID-19 pandemic on the global aerospace robotics Market
- Steps taken by Industry/ Companies/ Governments to overcome the impact
- Key Developments in the Industry in Response to COVID-19 pandemic
- Potential opportunities due to COVID-19 Outbreak
- Global Aerospace Robotics Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Application
- Material Handling
- Surface Treatment
- Composites Applications
- Assembly
- Others
- By Robot Type
- Articulated Robots Market
- Linear/Cartesian Robots
- Parallel Robots
- Selective Compliance Assembly Robot Arm (SCARA) Robots
- Others
- By Technology
- Conventional Technology
- Collaborative Technology
- By Solution
- Hardware
- Controller
- Arm Processor
- Sensors
- Drive
- Others
- Software
- Application Based Software
- System Based Software
- Cloud-Based Software
- Planning, Service, Safety, Project Engineering Software
- Services
- Hardware
- By Payload
-
- Small - Medium Payloads Robots (2kg To 100 Kg)
- Large Payloads Robots (100kg to 200kg)
- Extra Large Payloads Robots (200 Kg to 1,500kg)
-
- By Region
- North America
- Europe
- Asia pacific
- The Middle East & Africa
- South America
- By Application
TOC Continued…!
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Below are two of the latest industry developments:
- August 2019: Epson Robots declared the launch of its Automate Elite SM 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.
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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.
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