Aerospace Robotics Market Fueled By Rising Demand And Industry Innovations

EINPresswire/ -- Aerospace robotics market size was accounted for $2.9 billion in 2020, and is estimated to reach $9.2 billion by 2030, growing with a CAGR of 12.6% from 2021 to 2030.

Increase in need for automation for efficient aircraft production and growth in adoption of robotics to handle aircraft order backlog are expected to drive the growth of aerospace robotics market during the forecast period. However, lack of skilled workforce is anticipated to hamper the growth of the market. Conversely, technological advancements are expected to offer lucrative growth opportunities for the market in future.

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Covid-19 scenario:

During the pandemic, governments imposed strict lockdown and ban on import and export of raw materials. This affected the manufacturing activities of robotics in aerospace industry negatively.
The disrupted supply chain and delay in activities and initiatives about development of advanced aerospace robotics components hindered the market growth.

The report offers an analysis of the global aerospace robotics market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 14.8% during the forecast period.

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North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated global aerospace robotics market share in North America in 2020, owing to increase in R&D activities; technological developments by key players; rapid adoption of innovative technologies in making reliable, precise, and efficient aerospace robotics systems. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in adoption of aerospace robotics across several countries in Asia, for instance, China, India, Japan, and South Korea.

The global aerospace robotics industry report includes an in-depth analysis of the prime market players such as ABB, Electroimpact Inc., AV & R, JH Robotics, Inc., Fanuc Corporation, Mitsubishi Electric Corporation, KUKA AG, Universal Robots A/S, OC Robotics, and Yaskawa Electric Corporation.

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