Global Aerospace Robotics Market Soars to $3.1 Billion: Anticipates $5.7 Billion Surge with a Robust 10.68% CAGR by 2028
Global Aerospace Robotics Market
Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Global Aerospace Robotics Market Report by Type, Component, Technology, Payload, Application, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global aerospace robotics market size reached US$ 3.1 Billion in 2022 and is forecast to reach US$ 5.7 Billion by 2028, exhibiting a growth rate (CAGR) of 10.68% during 2022-2028.
Significant growth in the aerospace and aviation industries across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing requirement for automating various labor-intensive inspection, fiber placement, sealing and dispensing processes is providing a thrust to the market growth. In line with this, the widespread production of narrow-body aircraft with lightweight and small-sized components is providing a thrust to the growth of the market.
Various technological advancements, such as the integration of robotics with 3D visualization, Internet of Things (IoT), artificial intelligence (AI) and cloud computing solutions, are acting as other growth-inducing factors. These technologies aid in improving human-robot collaboration and minimizing the turnaround time for the manufacturing processes. Other factors, including extensive research and development (R&D) activities, along with significant improvements in the cyber-physical system (CPS) with automated decision-making functionalities, are anticipated to drive the market toward growth.
Key Market Segmentation
This research provides an analysis of the key trends in each sub-segment of the global aerospace robotics market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on type, component, technology, payload and application.
Breakup by Type:
Articulated
Cartesian
SCARA
Parallel
Breakup by Component:
Controller
Arm Processor
End Effector
Camera and Sensors
Breakup by Technology:
Traditional
Collaborative
Breakup by Payload:
Up to 16.00 KG
16.01-60.00 KG
60.01-225.00 KG
More than 225.00 KG
Breakup by Application:
Drilling
Welding
Painting
Inspection
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
ABB Ltd.
Electroimpact Inc.
FANUC Corporation
General Electric Company
Gudel Group AG
JH Robotics Inc.
Kawasaki Heavy Industries Ltd.
KUKA AG (Midea Group)
Mitsubishi Electric Corporation
Teradyne Inc.
Yaskawa Electric Corporation
Key Questions Answered in This Report
What was the size of the global aerospace robotics market in 2022?
What is the expected growth rate of the global aerospace robotics market during 2023-2028?
What has been the impact of COVID-19 on the global aerospace robotics market?
What are the key factors driving the global aerospace robotics market?
What is the breakup of the global aerospace robotics market based on the type?
What is the breakup of the global aerospace robotics market based on the component?
What is the breakup of the global aerospace robotics market based on the technology?
What is the breakup of the global aerospace robotics market based on the application?
What are the key regions in the global aerospace robotics market?
Who are the key players/companies in the global aerospace robotics market?
Key Attributes:
Report Attribute | Details |
No. of Pages | 145 |
Forecast Period | 2022 - 2028 |
Estimated Market Value (USD) in 2022 | $3.1 Billion |
Forecasted Market Value (USD) by 2028 | $5.7 Billion |
Compound Annual Growth Rate | 10.7% |
Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/mvdv5d
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