Aerospace Robotics Market will exhibit a CAGR of 20.49% during the forecast period, and reach USD USD 7.78 billion by 2027, and the Market value as per 2019 was 2.66 billion.
Fortune Business Insights™ in a new report, titled, “Aerospace Robotics Market Size, Share & COVID-19 Impact Analysis, By Application (Material Handling, Surface Treatment, Composites Applications, Assembly, and Others), By Robot Type (Articulated, Linear, Parallel, SCARA, and Others), By Technology (Conventional, Collaborative), By Solution (Hardware, Software, and Services), Payload (Small – Medium Payloads Robots, and Others), and Regional Forecasts, 2020-2027.”
Aerospace Robotics Market Drivers and Restraint:
Increasing Investment in Aerospace Robotics to Boost Growth
Many countries, such as the U.S., France, China, South Korea, Germany, and Japan, have been investing heavily in the R&D of AI-enabled robots. For instance, in 2017, the South Korean government announced an investment of USD 450 million for the robotics sector. The focus of this investment was directed toward R&D centers to develop an intelligent robot.
The European Union-funded over USD 110.6 million between the 2010 to 2016 under the information and communication technologies (ICT) the research framework program, as well as under the Active and Assisted Living (AAL) joint program. Such financial assistance from the governments of various countries across the globe helped the companies in the market carry out R&D activities, thereby driving the growth of the aerospace robotics market.
Rising Demand for Collaborative Robots across Aerospace Industry will Favor Growth
Implementation of robotics simplifies and optimizes the operational process in the manufacturing industry. However, the operational process of conventional robots encompasses risk related to the safety of workers working in near the robots. For example, if a robot is performing the task of the packaging of finished goods, then simultaneously, the worker was not able to engage in post packaging tasks. Thus, the augmentation of collaborative robots helps to manufacture goods that could work in synergy with the workers on the shop floor. Hence, collaborative robots were introduced. They are safer, simple to program, and integrate with the other machines.
The growing demand for aircraft components is facilitating suppliers to implement collaborative robots in the manufacturing process to produce quality aircraft parts and systems with less turnaround time. Moreover, a change in the manufacturing process safety norms posts the COVID-19 pandemic will boost the growth of the market.
List of Key Players Covered in the Aerospace Robotics Market Report:
- 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)
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/aerospace-robotics-market-103324
Some of the key industry developments in the Aerospace Robotics Market Include:
- December 2019– Airbus SAS purchased the U.S. based industrial automation company, MTM Robotics. Airbus SAS already utilizes MTM’s light automated robotics systems at its manufacturing facilities. However, the purchase will facilitate closer collaboration with the company.
- August 2019– Epson Robots, a SCARA robot manufacturer, announced an Automate EliteSM Authorized System Integrator Program as part of the Epson Advantage Partner Program. The new program will assist the business to grow through the sales of Epson Robots and will make it easier for customers to find the best system integrators for their automation projects.
