Global Aerospace Robotics Market 2018-2022
About Aerospace Robotics
The scope of the report includes revenue generated by sales to manufacturers in the aerospace industry, including aerospace component manufacturers.
Technavio’s analysts forecast the global aerospace robotics market to grow at a CAGR of 5.33% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global aerospace robotics market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aerospace Robotics Market 2018-2022
Technavio recognizes the following companies as the key players in the global aerospace robotics market: ABB, FANUC, Kawasaki Heavy Industries, Midea Group, and Yaskawa Electric.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of cobots. The growing emergence of cobots will drive the growth of the aerospace robotics market till the end of the forecast period. The growing improvement in safety standards will drive the adoption of collaborative robots (cobots). This drives the demand for robots that can work in collaboration with individuals and complement their activities.”
According to the report, one driver in the market is pressure on global aerospace industry to improve manufacturing process. Over the years, there has been a significant surge in passenger and freight air transport demand, due to depreciation in oil prices, the rise in number of passengers, vigorous equipment replacement cycles, and technological advances.
Further, the report states that one challenge in the market is high cost of deployment. As aerospace robots use sensors, software, and advanced technologies, their prices are considerably high, and they require a high initial one-time payment. Hence only the companies that derive significant cost benefits from implementing these robots invest them.