Global Airport Robots Market Forecast to 2028 - COVID-19 Impact and Analysis
DUBLIN, Sept. 9, 2021 /PRNewswire/ -- The "Airport Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application (Landside/Valet Parking and Terminal)" report has been added to ResearchAndMarkets.com's offering.
According to the new research report titled "Airport Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis," the market is expected to reach US$ 2,108.29 million by 2028, registering a CAGR of 22.4% from 2021 to 2028.
With the rise in real and perceived threats to the national security, continuous efforts are being taken to come up with innovative active interrogation approaches to identify these threats. The most instant perceived threats and their essential materials comprise conventional explosives, weapons, chemical agents, and contraband. With an intent to prevent uncertain events, authorities worldwide are actively focusing on the deployment of advanced systems, including robots, to strengthen security at airports. The robots used for security application at airports are integrated with features such as facial recognition systems, sensors, and cameras to measure pulse rate remotely, which allows them to detect suspicious persons, currencies, weapons and explosives, abandoned objects, and other illicit material without disturbing the operations or flow of passengers at airports. Furthermore, the governments of various countries are investing in the development of their transport infrastructure, including building of new airports. For instance, the Chinese government plans to construct additional 215 airports by 2035. Furthermore, the Indian government plans to build 100 new airports across the country by 2024.
The global airport robots market is segmented by application. Based on application, the market is segmented into landside/valet parking and terminal. The terminal segment dominated the market in 2020. The terminal segment is sub-segmented into airport security and cleaning, boarding pass scanning, airport baggage system, and passenger guidance. The airport security and cleaning segment led the market in 2020.
The airport robots market is experiencing significant growth owing to increasing importance for security at airports. However, the high cost of robots hampers their adoption, especially at small airports in developing or under-developed countries. Meanwhile, the number of air passengers worldwide has increased due to surge in business travel and leisure travel. With the growing footfall at airports, the airport authorities are investing significantly in advance technologies, including robotics, for streamlining their operations. According to a survey conducted by the Air Transport IT Insights, ~32% of airports in the world are in the favor of increasing robotics involvement in their operations.
Various big construction projects, including airport modification and expansion were halted due to COVID-19, specifically in countries such as the US and Canada. For instance, Raleigh-Durham International Airport was on pace to expand its Terminal 1 from nine gates to as many as 22 and proceed with a new security checkpoint and a consolidated rental car facility. The projected expansion was halted due to the pandemic. Similarly, an infrastructure project at Vancouver International Airport has been terminated due to the COVID-19 crisis. Due to stoppage in such big project (expanded till quarter 3 of 2020), airport robots manufacturers lost several potential clients/projects, which impacted their overall cash flow. The impact was not only from the demand side, but also from the supply side. As manufacturing facilities in the region were not operational for months, the supply chain was disrupted and the procurement of raw material was interrupted. Due to this, OEMs saw prominent challenges in keeping up with the quarterly revenue. Airports also witnessed the importance of robots and other machinery because of reduction of human touch. Moreover, the analysis states that the FY2021 would bring additional demand for airport robots, as airport development projects resume and airport authorities prepare to focus significantly on health and safety of passengers.
Reasons to Buy
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Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Airport Robots Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Airport Robots Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Construction of New Airports and Exigency for Robust Airport Security
5.1.2 Increase in Demand for Advanced Robots
5.2 Key Market Restraints
5.2.1 Cost Associated with Procuring and Maintaining Advanced Robots
5.3 Key Market Opportunities
5.3.1 High Potential in Developing Countries
5.4 Future Trends
5.4.1 Enhanced Sanitation Programs and Procedures at Airports
5.5 Impact Analysis of Drivers and Restraints
6. Airport Robots - Global Market Analysis
6.1 Global Airport Robots Market Overview
6.2 Global Airport Robots Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Airport Robots Market Revenue and Forecast to 2028 - Application
7.1 Overview
7.2 Airport Robots Market, By Application (2020 And 2028)
7.3 Landside/Valet Parking
7.3.1 Overview
7.3.2 Landside/Valet Parking: Airport Robots Market Revenue and Forecast to 2028 (US$ Million)
7.4 Terminal
7.4.1 Overview
7.4.2 Terminal: Airport Robots Market Revenue and Forecast to 2028 (US$ Million)
7.4.3 Airport Security and Cleaning
7.4.3.1 Overview
7.4.3.2 Airport Security and Cleaning: Airport Robots Market - Revenue and Forecast to 2028 (US$ Million)
7.4.4 Boarding Pass Scanning
7.4.4.1 Overview
7.4.4.2 Boarding Pass Scanning: Airport Robots Market - Revenue and Forecast to 2028 (US$ Million)
7.4.5 Baggage Carrying
7.4.5.1 Overview
7.4.5.2 Airport Baggage System: Airport Robots Market - Revenue and Forecast to 2028 (US$ Million)
7.4.6 Passenger Guidance
7.4.6.1 Overview
7.4.6.2 Passenger Guidance: Airport Robots Market - Revenue and Forecast to 2028 (US$ Million)
8. Airport Robots Market - Geographic Analysis
9. Airport Robots Market - COVID-19 Impact Analysis
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Middle East and Africa
9.5 South America
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
11. Company Profiles
11.1 Yujin Robot Co., Ltd.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Avidbots Corp.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Cyberdyne Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 SoftBank Robotics
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Stanley Robotics SAS
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 SITA
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 ABB Ltd.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 ECA Group
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 LG Electronics
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 UVD Robots
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/3fx8hw
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