NEW YORK, Jan. 12, 2017 /PRNewswire/ -- "Growing use of robotics to handle aircraft orders backlog is one of the key factors expected to drive the market"
The 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. The market is mainly driven by factors, such as increase in the use of robots for efficient aircraft production processes and growing use of robotics to handle aircraft orders backlog. However, lack of skilled robot operators may restrain the growth of this market.
"The articulated segment is estimated to be the largest type segment of the market in 2016"
By type, the articulated segment is estimated to account for the largest share of the market in 2016. Articulated robots are the most common type of robots used in the aerospace industry for a wide range of applications. These robots are known for their speed, agility, and high degree of freedom. The type segment of the aerospace robotics market includes articulated, SCARA, cylindrical, cartesian, and other robotic types.
"The controller segment is estimated to be the largest component segment of the market in 2016"
The aerospace robotics market has been segmented on the basis of component into controller, sensors, drive, arm processor, and end effector. Among these, the controller segment is estimated to be the largest in 2016. The controller monitors and gives direction to the robotics system, and is an essential component of aerospace robotics.
"The traditional segment is estimated to be the largest technology segment of the market in 2016"
Based on technology, the traditional segment is estimated to account for the largest share of the aerospace robotics market in 2016. Traditional robots, designed and programmed to work autonomously, are extensively used in aircraft manufacturing. These robots are used for various applications, such as drilling, fastening, welding, paints & coating, material handling, assembly, and inspection, among others.
"North America is estimated to be the largest market for aerospace robotics systems in 2016"
North America is estimated to account for the largest share of the aerospace robotics market in 2016. The aviation industry in North America has witnessed considerable growth over the past few years, owing to increase in the number of aircraft orders. To cater to this surplus aircraft orders, leading aircraft manufacturers, such as Boeing (U.S.), have started employing aerospace robotics for their manufacturing and assembly operations in the region. Asia-Pacific is estimated to be the fastest-growing market for aerospace robotics systems, due to growth of the region's aviation industry.
Break-up of profile of primary participants in the aerospace robotics market:
- By Company Type - Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Major companies profiled in the report include KUKA AG (Germany), ABB Group (Switzerland), FANUC Corporation (Japan), Yaskawa Electric Corporation (Japan), and Kawasaki Heavy Industries, Ltd. (Japan), among others.
This research report categorizes the aerospace robotics market on the basis of type (SCARA, cylindrical, articulated, cartesian, and others), component (controller, arm processor, end effector, drive, sensors), technology (traditional and collaborative); and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, and the rest of the world (RoW).
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, company profiles, emerging and high-growth segments of the market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on aerospace robotics systems offered by top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aerospace robotics market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for aerospace robotics systems across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aerospace robotics market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the aerospace robotics market
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