Aerospace Robotics Market| 2020 Covid-19 Impact On Aerospace & Defense Industry Global Analysis By Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2027 is latest study published by Fortune Business Insights. The global aerospace robotics market expected to rise at 20.49% CAGR and reach US$ 7.78 billion by 2027 valuations by 2027. Aerospace Robotics Industry is segmented 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 Forecast till 2027
The global aerospace robotics industry share 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 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), By Payload (Small – Medium Payloads Robots, and Others), and Regional Forecasts, 2020-2027.” The report further mentions that the 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 out the names of all the prominent manufacturers operating in the global aerospace robotics market. They are as follows:
- ABB Group (Switzerland)
- Electroimpact Inc. (United States)
- Fanuc Corporation (Japan)
- Gudel AG (Switzerland)
- Kawasaki Robotics (United States)
- KUKA AG (Germany)
- Oliver Crispin Robotics Ltd. (United Kingdom)
- TAL Manufacturing Solutions Limited India (India)
- Universal Robotics A/S (Denmark)
- Yaskawa Electric Corporation (Japan)
Global Aerospace Robotics Market Highlights:
The aerospace robotics market trends report offers an in-depth analysis of the Aerospace Robotics industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, The Aerospace Robotics Market concentration, and maturity analysis is elaborated in this robotics software report.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
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 aerospace robotics application growth in the near future.
Hardware Segment to Show Rapid Growth Fueled 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.
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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 robot manufacturing.
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.
Below are two of the latest industry developments:
- August 2019: Epson Robots declared the launch of its AutomateEliteSM 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.
Key Questions Answered:
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- What Factors are estimated to drive and restrain the market growth?
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