The Aerospace Robotics Market is estimated at USD 2.9 billion in 2021 and is projected to reach USD 4.9 billion by 2026, at a CAGR of 11.4% from 2021 to 2026. The aerospace robotics market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period. . Increase in global aircraft demand and manufacturing, increasing use of robots for efficient aircraft production processes, growing use of robotics to handle aircraft orders backlog, increasing manual labor cost are fueling the growth of the aerospace robotics market.
Key Market Players
Major manufacturers in this market are based in North America and Europe. Kuka AG (Germany), ABB Group (Switzerland), FANUC Corporation (Japan), Yaskawa electric corporation (Japan), Kawasaki Heavy Industries, Ltd (Japan) are among the key manufacturers that secured aerospace robotics contracts in the last few years. A major focus was given to the development of new products due to the changing requirements of robotic capabilities across the world.
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COVID-19 Impact on the Aerospace Robotics Market
- Components and required raw materials used to manufacture aerospace robotics were not available for ready production.
- The supply chain is experiencing transportation-related delays due to travel restrictions and shortage of workforce.
- Production/assembly lines are also either running at lower capacities or are completely shut down.
Long-term market drivers for aerospace robotics remain strong, and, before the pandemic, the market had started to show signs of recovery from the major market price reset. The COVID-19 pandemic has swept the world, with many industries trying to stay afloat. Governments and businesses involved with robotics are reacting differently to the new situation. Some product launches are moving forward, while some are not; some tests continue, and some are delayed; some companies still operate, and others have shuttered.
Major manufacturers in this market are based in North America and Europe. Kuka AG (Germany), ABB Group (Switzerland), FANUC Corporation (Japan), Yaskawa electric corporation (Japan), Kawasaki Heavy Industries, Ltd (Japan) are among the key manufacturers that secured aerospace robotics contracts in the last few years. A major focus was given to the development of new products due to the changing requirements of robotic capabilities across the world. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the aerospace robotics market.
Kuka AG focuses on customer requirements and expectations integrated at all levels of services through extensive research & development and technological advancements. The company’s strength lies in the continuous improvement of its processes and methods. It focuses on improving processes by identifying and applying innovative concepts through investments in R&D activities. Its extensive capability to invest in automotive and aerospace platforms and programs through contracts, joint ventures, and partnerships allows the company to stand apart from its competitors. In April 2021, The Daimler Automotive Group and the KUKA AG signed a new framework contract for the coming years. The order encompasses a four-figure number of robots and linear units as well as other KUKA technologies such as software and controllers.
ABB Group has a diversified product portfolio in the robotics business serving a number of industries. It has made key contributions to robotic paint-finishing technology in the aerospace industry. It has developed TrueView vision and force control systems supporting applications such as object location, robot guidance, part cleaning, sanding, polishing, and masking. It has automation centers in more than 30 countries, through which ABB continuously provides automation and robotics systems to manufacturers. The company is focused on profitability by shifting to high-growth end markets and lowering business risks through diversification. In October 2021, Tecnoideal, an integrator specializing in the medical sector, selected industrial robots of ABB to be used in its automated applications.
FANUC had consistently focused on the automation of factories since 1956 when it succeeded in the development of the SERVO mechanism for the first time in the Japanese private sector. FANUC Corporation’s robotics portfolio consists of a wide range of robots for applications such as drilling, fastening, laser machining, welding, and palletizing. They are making continuous efforts towards making the manufacturing process more efficient and reducing the downtime of robots. This can be witnessed by the collaborations with Cisco, Nvidia, and Preferred Networks Inc., where the companies are making constant efforts towards improving the artificial intelligence of the robots. In August 2021, FANUC received a major order in the field of e-mobility, which is scheduled for delivery by 2022; the company will supply the Cologne plant of Ford with around 500 robots to assist in the construction of electric car bodies.
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