Raising technological developments in robots, growing usage of robotics for manufacturing efficiency, and to limit the labour costs are some of the major factors propelling the market growth.
According to Publisher, the Global Aerospace Robotics Market is expected to grow from $2.15 billion in 2016 to reach $6.94 billion by 2023 with a CAGR of 18.2%.
In addition, increasing robotics market for handle aircraft orders backlog is another factor favoring the market. On the other hand, higher investments, lack of skilled robot operators are some of the restrains limiting the market growth.
Articulate robot type segment is expected to witness a higher CAGR over the forecast period. The growth is owed to wider application of articulate robots in painting, drilling, and fastening,.
Among all components, the sensor segment is anticipated to register a higher market growth rate. North America is anticipated to hold the largest share in global market due to the existence of prominent aircraft manufactures.
Asia Pacific is anticipated to be a fastest growing region. The growth is attributed to increasing investments in research and development in aerospace manufacturing.
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Some of the key players in global Aerospace Robotics Market include ABB Group, Electroimpact Inc., Fanuc Corporation, Gudel AG, Industrial Designs M.Torres, Sau, Kawasaki Heavy Industries, Ltd, Kuka AG, Oliver Crispin Robotics Limited, Universal Robots A/S, and Yaskawa Electric Corporation.
Robotic Types Covered:
-Other Robotic Types
-Drilling & Fastening
-Painting & Coating
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- Rest of Europe
- New Zealand
- Rest of Asia Pacific
-Rest of the World
- Middle East
- South Africa
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