With an increase of almost two and a half times, the aerospace robotics market is projected to grow from USD$1.81 billion in 2016 to $4.54 billion by 2022, according to a new report from MarketsandMarkets.
The report categorizes the market by type (SCARA, articulated, cylindrical and Cartesian among others), component technology (controller, arm processor, end effector, drive and sensors), application (drilling & fastening, inspection, welding, painting and coating among others) and region (primarily North America, Europe, Asia-Pacific and the rest of the world), while also providing detailed analyses of each one’s status and projections to 2022.
The report identifies one of the key factors expected to drive the aerospace robotics market as the growing use of robotics to handle the backlog of aircraft orders.
At the same time, it predicts that a lack of skilled robot operators could hamper this growth. North America is estimated to be the largest market for aerospace robotics systems, while the Asia-Pacific is predicted to show the fastest growth rate in the same market.
The largest type segment in the market is estimated to be that of articulated robots, which are known for their speed, agility and high degree of freedom and are widely used in the aerospace industry for a range of applications.
The component segment of the market is estimated to be dominated by the controller segment, an essential component that gives direction to robotics systems. Additionally, traditional robots that work autonomously on the various phases of aircraft manufacturing and inspection are estimated to be the largest technology segment of the market.
In addition to detailing important developments and industry trends, the report identifies its top players and provides an analysis of the market’s various challenges, restraints, drivers and opportunities. It also provides insights on corporate strategies put in place by the market’s major players, as well as micromarkets within the industry, their prospects and their contributions.
The MarketsandMarkets report can be found in its entirety can be found here at their website.