Aerospace Robotics Market to Grow Swiftly Owing to Rising Adoption of Robots for Efficient Aircraft Production and to Reduce Order Backlog Till 2022 | Million Insights
FELTON, California, December 3, 2018 /PRNewswire/ --
The Global Aerospace Robotics Market is expected to display higher growth rate over the next seven years. The market is subject to witness a substantial growth due to the growing demand for robotics & automation in aerospace industry, rising adoption of robots for efficient aircraft production, and increasing implementation of aircraft orders backlog. Additionally, higher labor costs is expected to augment market demand for aerospace robotics over the forecast period. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the aerospace robotics market.
Rising adoption of automation and robotics in production of aircraft carriers has changed overall outlook of the aerospace robotics industry since the last decades. Additionally, increasing number of initiatives taken by the regional governments to promote use of automation in manufacturing processes are likely to boost the sales of aerospace robots. Such initiatives by regional governments include tax exemptions and tax cut, thus reducing overall of manufacturing cost and elevating the manufacturing opportunities for industry players across the globe. These factors are anticipated to drive growth of the automotive robotics market in upcoming years.
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Articulated robotics is one of the fastest growing segment in market with highest revenue generation in the recent years. Increasing adoption of the articulated robot is credited to its numerous advantages such as flexibility and degree of freedom. Articulated robots are primarily used in application involving large-scale assembly line of aerospace robots with six axes movement.
Some of the application of articulated robots in production of aircraft include welding, material handling, dispensing and material separation. These robots are specifically designed to perform required task in restricted period. Increasing number of application of automotive robots in industrial manufacturing processes is key factor responsible for the growth of the market. Application of these robot changes in accordance with the industry applications. Increasing adoption of robotics in automotive industry is credited to rising application of robots in different aspects of the production line due to their large-scale work envelope.
Early adoption of the aerospace robotics in supply chain operation leads to minimum production delays. Aerospace industry need to follow specific period during manufacturing processes coupled with process control at each step in the production line. Thus, adoption of aerospace robotics has become vital in the recent years. Such factors are anticipated to spur market demand of aerospace robots over the coming years.
The market is broadly categorized into four major segments based on the application type such as drilling & fastening, inspection, welding, and painting & coating. The drilling & fastening is considered as one of the fastest growing segment in the aerospace robotics market with substantial revenue generation in the last few years.
Growing popularity of aerospace robots in the drilling & fastening segment is attributed to the increase in production activities and higher efficiency of the aerospace robots. The painting & coating segment has also witnessed substantial growth due to enhanced performance capability and cost-effectiveness.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the aerospace industry, increase in the number of aircraft manufactures in the region, and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the aerospace robotics market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with strong economic growth in the region, growing domestic manufacturing, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the aerospace robotics market are KUKA AG, FANUC Co., ABB Group, Yaskawa Electric Co., Electroimpact, Inc., Oliver Crispin Robotics Ltd., and Universal Robots A/S.
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Market Segment:
- The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
- Key vendors
- ABB
- FANUC
- Kawasaki Heavy Industries
- Midea Group
- Yaskawa Electric
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