Aerospace Robotics Market Share, Size, Trends, Industry Analysis Report, By Solution (Traditional Robots, Collaborative Robots); By Component (Controller, Sensor, Drive, End Effector); By Payload; By Application; By Region; Segment Forecast, 2022 - 2030
- Published Date:Apr-2022
- Pages: 126
- Format: PDF
- Report ID: PM2368
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global aerospace robotics market was valued at USD 2.84 billion in 2021 and is expected to grow at a CAGR of 11.7% during the forecast period. The aerospace business has expanded, and modern robotics is at the forefront of that transition. Robotics has grown significantly in recent years, with much of it focusing on commercial processes for the aerospace production process.
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The increased demand for automation for efficient aircraft manufacture has driven the market growth. Furthermore, rising labor costs around the world contribute to market expansion. However, the shortage of experienced professionals and the high cost of robotic device installation are restraining the market's growth.
On the contrary, an increase in IoT (Internet of Things) trends in aircraft manufacturing firms and rapid growth in the global aerospace industry create a lucrative growth opportunity for the market. The COVID-19 pandemic has altered the market's dynamics for the following years, as demand for new aircraft has decreased since the coronavirus outbreak.
Aircraft OEMs focus on variables such as nations' governments planning to revamp supply chain management while considering the epidemic to combat the pandemic. To minimize the consequences of the pandemic on commercial aviation, aircraft manufacturers are looking forward to optimizing their overall operations and focusing on inventory management.
Machine operators must adhere to social distancing and other safety standards when working in the industrial industry. This has also shifted the market for aerospace robotics in a positive direction, as the companies' key concern is worker safety. As a result, demand for the employment of robots in the production process will rise, as robots are the ideal substitutes for shop floor workers.
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Industry Dynamics
Growth Drivers
Aviation interconnections enable commerce and business, governments, and education, while air cargo provides vital services, transporting 35% of global trade by value and providing aid to global health systems. Also, people desire and require a connection. Global aircraft production is predicted to expand as demand for new aircraft fleets in various countries rises as global air passenger traffic increases.
According to Bureau of Transportation statistics, With 605,508 flights operated in July 2021, there were 65 percent more flights than in July 2020, when there were 367,933 flights. Thus, the rise in demand for aircraft fleets has significantly increased the demand for robotics in aircraft manufacturing.
On account of the increasing demand for aircraft components, suppliers can use collaborative robots in the production process to manufacture high-quality aircraft parts and systems in less time. Furthermore, following the COVID-19 pandemic, modifying manufacturing process safety requirements is expected to enhance market growth.
Report Segmentation
The market is primarily segmented based on component, solution, payload, application, and region.
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By Component |
By Solution |
By Payload |
By Application |
By Region |
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Insight by Component
Over the projection period, the end effector is anticipated to grow at the fastest CAGR. End effectors are mechanical and electrical devices attached to a robot's wrist. An aeronautical robot's end effectors are grippers, welding torches, force-torque sensors, material removal tools, collision sensors, and tool changers. Because it has a variety of gripping techniques and styles, the gripper is the most often utilized end effector in aerospace robots.
Geographic Overview
North America is predicted to account for the largest regional share and the fastest-growing region during the projection period. The U.S. has greatly boosted its spending on updating its aircraft production units in recent years. Furthermore, significant manufacturers are driving market expansion in the U.S.
For instance, in October 2021, Reliable Robotics has raised USD 100 million in funding to automate traditional fixed-wing planes to transport freight and eventually passengers and has acquired $100 million in funding. Moreover, the government will invest in sophisticated technology robots to cater to the growing aerospace industry.
China, Japan, and India are likely to expand robotic system purchases in the Asia Pacific area and engage in aerospace manufacturing research and development. Furthermore, many countries have invested in automated technologies to improve their manufacturing capacities and speed up the manufacturing process.
To improve the productivity of their facilities, Chinese and Indian companies are adopting robotic technologies from Western nations. In 2019, the Chinese invested around USD 577 million in developing intelligent robots. According to IFR Data, China's industrial sector had a robotic density of 140 units per 10,000 workers in 2018. In the year 2020, the government proposed new robotics technologies. On the other hand, many aerospace robotics producers are based in the Asia Pacific.
The formation of governmental and private market robotics initiatives has boosted the demand for robots in regions like North America, Europe, and China. In comparison, the IoT has played a significant impact on developing the robotics industry in Europe and the United States. The global demand for aerospace robotics has risen steadily over the years and continues to do so.
Competitive Insights
Kuka AG, ABB Group, Fanuc Corporation, Yaskawa Electric, Kawasaki Heavy Industries, Mtorres, Oliver Crispin Robotics, Gudel Ag, Electroimpact Inc., Universal Robots A/S, Swisslog Ag, Reis Robotics, Boston Dynamics, Bosch Rexroth, and others are some of the players operating in the market.
Aerospace Robotics Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 2.84 Billion |
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Revenue forecast in 2030 |
USD 7.23 Billion |
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CAGR |
11.7% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD Million/Billion and CAGR from 2022 to 2030 |
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Segments covered |
By Component, By Payload, By Solution, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Kuka AG, ABB Group, Fanuc Corporation, Yaskawa Electric, Kawasaki Heavy Industries, Mtorres, Oliver Crispin Robotics, Gudel Ag, Electroimpact Inc., Universal Robots A/S, Swisslog Ag, Reis Robotics, Boston Dynamics, and Bosch Rexroth. |
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