Newark, April 25, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.04 billion in 2022 airport robots market will reach USD 6.10 billion by 2032. In airport terminals, robots are becoming more common as technology is used to interact with travellers and boost productivity. Artificial intelligence and machine learning technologies enable many robots to learn and expand their knowledge. As technology develops, robots can give passengers updated information and assist airport managers and airlines with new operational advantages.
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Key Insight of the Airport Robots Market
Asia-Pacific is anticipated to expand at the highest CAGR of 22.53% over the projection period.
Asia-Pacific is expected to grow at the highest CAGR of 22.53% over the forecast period. It results from automated technologies at airports in nations like China, South Korea, and Japan. One of the markets for air travel with the highest growth in China. China is anticipated to surpass the United States as the world's top aviation market. Over time, there will probably be considerable passenger demand due to China's rebalancing economic situation. The need for airport robots will also be driven during the projection period due to the increasing number of new airport projects and passenger traffic in India.
In the airport robots market, the humanoid segment is expected to register the highest CAGR of 21.08% over the projected period.
The humanoid segment is anticipated to grow at the highest CAGR of 21.08% in the airport robots market. The overall look of a humanoid robot is attributed to this expansion. This robot looks like a human and can interact with objects and settings designed for people. These multitasking robots can work in many settings. As a result, there is a growing market for such robots that can provide passenger services.
The terminal segment is expected to register the highest CAGR of 21.93% in the airport robots market over the projected period.
Over the forecasted period, the terminal segment is anticipated to grow at the highest CAGR of 21.93% in the airport robots market. Upon landing and boarding a flight, travellers enter and exit an airport terminal building. Typically, airports include multiple gates, which are areas containing shops, restaurants, restrooms, lounges, and other amenities. At terminals, travellers have access to various services, including the ability to buy tickets, check in for scheduled flights, check or retrieve luggage, go through security or customs, identify connecting flights, and others.
Market Dynamics
Driver: Increasing emphasis on automating airport surveillance
Airlines are putting more and more emphasis on offering cutting-edge airport amenities to enhance customer experience and security, which is fuelling the need for security robots and airport cleaning robots. The highly complicated subject of airport security, which necessitates physical labour and drives up the entire cost of security operations, must be handled by airport authorities. On the other side, robotics lowers security operations costs while boosting efficiency and accuracy. Over the past ten years, there has been a significant increase in air travel. As a result, the global market for airport robots is anticipated to expand throughout the projected time. With the rise in air travel, there is an increasing need for additional airports and rapid, dependable passenger services. Airports are replacing their outdated technology with highly advanced, autonomous robotic technologies to reduce the time consumers must wait for flights. Airport robots are employed to shorten check-in times for passengers. They are equipped to provide all the services necessary for speedy check-ins, such as baggage loading and unloading, passenger screening, and baggage screening.
Restraint: Reduced traffic of air passengers due to pandemic
The outbreak of COVID-19 has affected several economies and the aviation sector. There were long periods of lockdown and severe domestic and international travel restrictions due to the pandemic of COVID-19. Therefore, significantly fewer individuals travelled.
Opportunity: Smart development of airports is expanding, and new technologies are being included to improve airport services
The establishment of "smart airports" has substantially increased in recent years because of the development of cutting-edge technology that enhances passenger experiences. The governments of advanced countries are also ready to invest in smart and green airport projects to decrease the detrimental environmental effects. The idea of "smart parking" is still being developed in these airports. As a result, there will be greater demand for robots created particularly for airport operations. Additionally, the growth of AI, machine learning, IoT, and AR has resulted in a significant shift in the aviation sector.
Challenge: High costs of manufacturing, using, and maintaining airport robots
For manufacturers of airport systems and equipment, creating technologically advanced systems to replace outdated ones at airports is a primary goal. Airport authorities are also anticipating the development of smart airports, a project that is being undertaken by many nations. High airport robot manufacturing, installation, and maintenance expenses hinder the market's growth.
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Some of the major players operating in the airport robots market are:
• Swisslog Holding Ltd.
• Omron Corporation
• Locus Robotics
• Fetch Robotics, Inc.
• Cimcorp
• Aethon
• AtriCure, Inc.
• Vecna Robotics
• Mobile Industrial Robots A/S
• Clearpath Robotics Inc.
• BD
• Savioke, Inc.
• AVIC.ALL
• Biosensors International Group, Ltd.
• Hi-Tech Robotic Systemz
Key Segments cover in the market:
By Type:
• Non-humanoid
• Humanoid
By Application:
• Landside
• Terminal
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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