Airport Robots Market Size Expected To Reach $2.56 Billion By 2030
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By application, the market is categorized into landside and terminal. The terminal segment accounted for the highest revenue in 2020, owing to high demand for convenient airport services, for instance guidance, easy check-ins, baggage handling, and others.
By end user, the airport robots market is divided into airport security, boarding pass scanning, airport baggage system, passenger guidance, and others. The airport security segment accounted for the highest revenue in 2020, owing to rapid rise in demand for modernizing airport security systems for small and big airports across the world.
Increase in air passenger traffic across the globe and benefits, such as faster check-ins and easier baggage handling, are expected to drive the airport robots market during the forecast period. However, high cost of airport robots is anticipated to hamper the growth of the market. Moreover, rise in usage of taxibots and increase in real & perceived threats to national security are expected to offer lucrative opportunities in future.
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COVID-19 Impact Analysis
The COVID-19 impact on the airport robots market is unpredictable and is expected to remain in force till the second quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned domestic and international travel for most of 2020. This led to sudden fall in demand for air travel and hampered the adoption of airport robots across the globe.
Moreover, nationwide lockdowns forced robot hardware related parts manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic resulted in delay in activities and initiatives regarding development of robust and innovative airport robot solutions globally.
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Key Findings Of The Study
By end user, the airport baggage system segment anticipated to witness lucrative growth during the forecast period.
By application, the landside segment is expected to register a significant growth during the forecast period.
By type, the humanoid segment is expected to register a significant growth during the forecast period.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global airport robots market include ABB Ltd., Avidbots Corp., Cyberdyne Inc., ECA Group, LG Electronics Inc., SITA, SoftBank Corp., Stanley Robotics, UVD Robots, and YUJIN ROBOT Co., Ltd.
David Correa
Allied Market Research
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