Aerospace Robotics Market worth USD 7.91 Billion by 2029, in depth analysis of the current trends and future estimations

Manual and robots working together is creating new opportunities for aerospace robotics market.

PUNE, India, May 17, 2023 /PRNewswire/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Aerospace Robotics Market.

The Global Aerospace Robotics Market is expected to grow at 11.80% CAGR from 2020 to 2029. It is expected to reach above USD 7.91 Billion by 2029 from USD 2.90 Billion in 2020.

The aerospace industry uses a robotic technology called aerospace robotics to build airplanes. Aerospace robots are used for a variety of jobs, such as drilling holes for engines, manufacturing, joining metal components, and painting airframes. Aerospace robotics technology has several advantages, including high accuracy, adaptable automation, ability to perform repeatable tasks, and high-speed production, all of which are essential in the construction of airplanes.

Increased labor costs are one of the factors driving the aerospace robotics market. The aerospace industry requires a high level of precision and accuracy in manufacturing and assembly processes, which can be time-consuming and expensive when done manually. As labor costs continue to rise, aerospace companies are looking to automate and streamline their production processes to reduce costs and increase efficiency. The use of robotics in aerospace manufacturing can significantly reduce the need for manual labor, increasing production speed, consistency, and quality. Robotic systems can perform repetitive and dangerous tasks more efficiently and with greater accuracy than human workers. Additionally, robots can work continuously without the need for breaks, increasing productivity and reducing costs.

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Is technological advancement or price competition driving the market? Read more to get insights for from the report. By 2029, due to the growing automotive, and transportation markets, the demand for the Aerospace Robotics market will be increasing, which will result in the market growth of market being around USD 7.91 Billion.

Growth Drivers

Increased cost of manual labour driving factor for aerospace robotics market.

Robot automation is difficult, especially for small and medium-sized businesses (SMEs). Costly initial capital outlay is necessary. Moreover, training must be provided for the staff in order to maintain and program the robots. Robots are used by SMEs for a variety of purposes, including welding, assembling, and packaging. Yet, a change in the product specification might also affect how the robot's work. Customization is therefore required, which raises the price of the robot. These elements could thus prevent this market from expanding.

High prices of installation and maintenance putting forth challenge for aerospace robotics market.

Robot automation is difficult, especially for small and medium-sized businesses (SMEs). Costly initial capital outlay is necessary. Moreover, training must be provided for the staff in order to maintain and program the robots. Robots are used by SMEs for a variety of purposes, including welding, assembling, and packaging. Yet, a change in the product specification might also affect how the robot's work. Customization is therefore required, which raises the price of the robot. These elements could thus prevent this market from expanding.

Scope

Original manuscripts are elicited from researchers active in the following areas:

• Aeronautical and Space Robotics Systems
• Unmanned Aircraft Systems
• Autonomous Airspace Mobility Systems
• Robotics Guidance, Navigation, and Control
• Tracking, Optimal Control, and Trajectory Optimisation
• Human–Autonomy Interactions
• Trusted Autonomous Systems

Competitive landscape and companies covered in the global Aerospace Robotics report:

Some of the major players in this industry have taken a leadership position while trying to establish their market through innovative marketing strategies. These leading firms focus on expanding by developing new products or partnering with other companies for strategic initiatives that will help them conquer markets they occupied previously and make gains where it matters most- at home (geographic). There are a lot of local players in each of the regions who are trying to penetrate the market which again can be disruptive in low-income economies.

• ABB
• Av&R
• Electroimpact Inc.
• Fanuc Corporation
• JH Robotic Inc.
• Kuka Ag
• Mitsubishi Electric Corporation
• OC Robotics
• Universal Robots A/S
• Yaskawa Electric Corporation *The Company List Is Indicative

Recent Developments

Nov 2022 The use of robotic MROs (Maintenance, Repair and Overhauls) on aircraft is becoming increasingly popular due to their high efficiencies and low cost. With robotic systems, inspections and maintenance are more user friendly and take less time as engines can remain on the aircraft's wings.

In July2021, Fanuc Corporation announced that it has started the production of 750,000th industrial robot, representing a record high point in the robotics industry. FANUC Corporation's customer base covers a wide range of industries including automotive, aerospace, food and beverage, consumer goods, medical and pharmaceutical, warehousing, and many more.

Browse the full "Aerospace Robotics Market by Application (Material Handling, Surface Treatment, Composites Applications, Assembly), by Robot Type (Articulated, Linear, Parallel, SCARA), by Technology (Conventional, Collaborative), By Solution (Hardware, Software, and Services), and Region, Global Trends and Forecast From 2022 To 2029" Report and TOC at https://exactitudeconsultancy.com/reports/16247/aerospace-robotics-market/   

Key Segmentation

The Aerospace Robotics market is segmented based on Robot Type, Application, and Technology, Global trends and forecast.

Aerospace Robotics Market by Application, 2020-2029, (USD Billion)

• Material Handling
• Surface Treatment
• Composites Application
• Assembly

Aerospace Robotics Market by Robot Type, 2020-2029, (USD Billion)

• Articulated
• Linear
• Parallel
• Scara

Aerospace Robotics Market by Technology, 2020-2029, (USD Billion)

• Conventional
• Collaborative

Regional Growth Insights

Asia Pacific (38% Largest Market) region is expected to show higher Aerospace Robotics market growth in the forecast period.

The biggest revenue share was attributed to the Asia Pacific region. This is because there are more businesses, like COMAC and local producers, that sell aerospace robotics systems for less money than other manufacturers. In order to meet the demand for aircraft, COMAC has hastened the renovation of its assembly and manufacturing line. India is recognized as a significant participant in the Asia Pacific region in terms of both the domestic aviation market and the global aviation sector. To encourage domestic aircraft manufacturing, the Indian government is also implementing new aviation laws. International businesses have come to India as a result of a new government policy that allowed 100% Foreign Direct Investment (FDI) in the manufacturing and aerospace sectors. Such measures will facilitate knowledge transfer from Western nations to India and increase country's production of aerospace robots.

What's New for 2023?

• Coverage of the danger of a recession, supply chain disruptions, global trade tensions, the Russia-Ukraine War, global inflation, recovery analysis from COVID-19, and global inflation
• Positions of the main competitors and global competition
• influence in the market across several geographic areas - Strong/Active/Niche/Trivial

The investment made in the study would provide you access to information such as:

• Aerospace Robotics market [Global – Broken-down into regions]
• Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
• Country wise Market Size Split [of important countries with major market share]
• Market Share and Revenue/Sales by leading players
• Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter's Five Forces, etc.
• Market Size)
• Market Size by application/industry verticals
• Market Projections/Forecast

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