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(MoneyNewsWire.Net, March 09, 2018 ) The aerospace robotics market is projected to grow from USD 1.81 Billion in 2016 to USD 4.54 Billion by 2022, at a CAGR of 16.55% during the forecast period. Increasing use of robots for efficient aircraft production, growing use of robotics to handle aircraft order backlogs, and increasing labor costs are factors driving the aerospace robotics market.
The market has been segmented on the basis of type, application, component, technology, and region. Based on application, the aerospace robotics market has been segmented into drilling & fastening, inspection, welding, painting & coating, and others. By type, the market has been segmented into SCARA, cylindrical, articulated, cartesian, and others. The articulated type segment is expected to witness the highest growth during the forecast period. Articulated robots are preferred in most aircraft manufacturing processes owing to their high flexibility and precision.
Browse Market Data Tables and In-Depth TOC of the Aerospace Robotics Market to 2022 @ https://www.researchcosmos.com/reports/global-aerospace-robotics-market-analysis-and-forecast-to-2022-growth-opportunity-assess/1825617
Based on component, the market has been segmented into controller, arm processor, drive, end effector, and sensors. The controller segment, estimated to be the largest component segment of the market in 2016, is also projected to remain the largest by 2022. The rise in aircraft deliveries is expected to drive the aerospace robotics market, which will consequently result in healthy growth for the controller segment. On the basis of technology, the aerospace robotics market has been segmented into traditional and collaborative. The collaborative segment is estimated to witness the highest growth, as the aerospace industry is gradually adopting collaborative robots owing to their ability to work alongside humans.
The geographical analysis of the aerospace robotics market includes regions, such as North America, Europe, Asia-Pacific, and the rest of the world (RoW). North America is estimated to account for the largest share of the aerospace robotics market in 2016. Presence of major aircraft manufacturers and aircraft part manufacturers in North America is the reason behind the region’s large market share. The increasing demand for commercial aircraft has made aircraft manufacturers turn to robots and industrial automation to increase their monthly production.
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High initial costs can act as a challenge for the growth of the aerospace robotics market. Implementation of robotics in manufacturing includes cost of software, hardware, and integration. The robot’s cost may be less, but implementation of the whole system increases initial investment.
Products offered by various companies in the aerospace robotics market have been listed in the report. The recent developments section of the report includes recent and important developments by various companies between 2013 and 2016. Major companies profiled in the report include KUKA AG (Germany), FANUC Corporation (Japan), ABB Group (Switzerland), Yaskawa Electric Corporation (Japan), and Kawasaki Heavy Industries, Ltd. (Japan), among others. Expansions accounted for the major share of total growth strategies adopted by the leading players in the aerospace robotics market. This strategy has enabled companies to strengthen their position in the market.
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