According
to New Research on aerospace robotics
market is projected to grow from USD 1.81 Billion in 2016 to USD 4.54 Billion
by 2022, at a CAGR of 16.55% during the forecast period.
Factors such as
increasing use of robots for efficient aircraft production, growing use of
robotics to handle aircraft orders backlog, and increasing labor costs are
expected to drive the growth of the aerospace robotics market.
By type, the articulated
segment of the aerospace robotics market is projected to grow at the highest
CAGR during the forecast period.
Based on component,
the sensors segment of the aerospace robotics market is
estimated to grow at the highest CAGR during the forecast period, owing to the
increasing use of robotic sensors to provide essential inputs about an object’s
motion, location, velocity, and temperature, among others.
Based on technology,
the collaborative segment of the aerospace robotics market is estimated to
witness the highest growth during the forecast period. This segment’s growth is
driven by the increasing demand for human safety while working alongside
robots, in the aerospace industry. Customers/manufacturers in the
aerospace industry are showing an interest in collaborative robots, as these
robots can safely work alongside humans.
Asia-Pacific is the
fastest-growing markets for aerospace robotics, due to increase in the number
of aircraft deliveries in the region. The region’s major economies, such as
India, China, and Japan are increasingly investing in automation solution for
aircraft manufacturing. These countries are also expected to increase their
acquisition of robotic systems and invest in research & development in
aerospace manufacturing.
Some of the major
players in the aerospace robotics market include Yaskawa Electric Corporation
(Japan), Kawasaki Heavy Industries, Ltd. (Japan), and FANUC Corporation
(Japan).