Aerospace Service Robotics Market to Reach $12.8 Billion, Globally, by 2033 at 12.3% CAGR: Allied Market Research
Wilmington, Delaware, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “The Global Aerospace Service Robotics Market by Component (Controller, Sensor, Drive, and End Effector), by Application (Drilling, Welding, Sealing, Assembling and Disassembling, and Others), by Payload (Up to 50 Kg, 51 to 100 Kg, and Above 100 Kg): Global Opportunity Analysis and Industry Forecast, 2024-2033”. The global aerospace service robotics market was valued at $4.30 billion in 2023 and is estimated to reach $12.80 billion by 2033, exhibiting a CAGR of 12.3% from 2024 to 2033.
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Prime determinants of growth
The global aerospace service robotics market is experiencing growth due to increase in demand for efficiency, continuous advancements in robotics technology, and growth in the commercial aerospace sector. However, complexity of integration, and limited accessibility hinder the market growth. Moreover, space exploration expansion and autonomous aircraft maintenance create lucrative opportunities in the global aerospace service robotics market.
Segment Highlights
By component, the sensor segment is expected to lead the market as aerospace tasks evolve in complexity, There is an escalating need for sensors offering precise data acquisition, crucial for intricate operations such as maintenance and navigation. Secondly, advancements in sensor technology have yielded highly resilient solutions tailored as per the demanding conditions of space and aviation. These innovations enhance operational efficiency and safety. Additionally, sensors play a central role in augmenting the autonomy and functionality of aerospace service robots, driving their adoption across diverse applications. This convergence of technological advancements and evolving operational needs positions sensor sales on a trajectory of sustained expansion in the aerospace service robotics domain.
By application, the assembling and disassembling segment is expected to have the highest market share owing to several reasons. Firstly, with the continuous advancement of aerospace technology, there's a heightened demand for efficient assembly and disassembly processes to facilitate rapid prototyping and customization. This segment addresses the need for precision and speed in assembling intricate aerospace components, ensuring seamless integration and functionality. Moreover, as the aerospace industry embraces lean manufacturing principles, robotics solutions for assembling and disassembling offer significant cost savings and efficiency improvements compared to traditional methods. Additionally, the versatility of robots in adapting to various assembly tasks, coupled with advancements in machine learning and artificial intelligence, further fuels the growth of this segment by enabling adaptive and agile assembly processes.
By payload, the up to 50 Kg segment is projected to hold maximum market share in the market due to several key factors. Firstly, the trend towards miniaturization and lightweight design in aerospace components necessitates robotics solutions capable of handling payloads within this range. These robots are well-suited for tasks such as inspection, maintenance, and assembly in confined spaces or environments with weight restrictions. Moreover, the increasing adoption of unmanned aerial vehicles (UAVs) for surveillance, reconnaissance, and cargo transport drives the demand for lightweight payloads in aerospace applications. Additionally, advancements in materials science and robotics technology have enabled the development of compact yet robust robotic systems capable of carrying payloads up to 50 Kg with precision and efficiency.
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Regional Outlook
By region, Asia-Pacific is expected to witness rapid growth in the aerospace service robotics market, propelled by several strategic factors. Firstly, burgeoning investments in aerospace infrastructure and technology across countries such as China, India, and Japan foster a conducive environment for market expansion. Secondly, the region's robust manufacturing capabilities, coupled with a skilled workforce, fuel the development and adoption of advanced robotics solutions tailored to aerospace needs. This positions the Asia-Pacific region as a dynamic and rapidly evolving landscape in the aerospace service robotics market.
Players:
- ABB
- AV&R
- Electroimpact Inc.
- Fanuc Corporation
- JH Robotics, Inc.
- KUKA AG
- Mitsubishi Electric Corporation
- OC Robotics
- Universal Robots A/S
- Yaskawa Electric Corporation
The competitive landscape of the aerospace service robotics market is characterized by innovation, expertise, and strategic partnerships. Collaboration between industry players, research institutions, and government agencies fosters a culture of innovation, driving the evolution of robotics technology in the aerospace sector. Market players continuously strive to differentiate themselves by offering robust, reliable, and cost-effective solutions to meet diverse customer needs.
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Recent Development:
- In June 2024, ABB unveiled its latest innovation, the next-generation Robotics control platform named OmniCore. This groundbreaking platform revolutionizes business productivity and flexibility by delivering faster, more precise, and highly autonomous automation solutions. ABB's strategic investment of $170 million in this control platform highlights its commitment to advancing sustainable automation practices. Notably, OmniCore boasts a distinctive single control architecture, seamlessly integrating ABB Robotics' comprehensive suite of hardware and software. This unified approach promises to streamline operations, enhance performance, and unlock new possibilities for automation across various industries.
- In February 2024, FANUC expanded its presence in Spain with the inauguration of its new office, reinforcing the company's foothold in Europe. The new facility of FANUC IBERIA features a comprehensive setup, including a showroom, application development area, training facilities, offices, and a warehouse. It offers training courses covering FANUC's CNC, ROBOT, and ROBOMACHINE products.
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