How will aerospace robotics market expected to hit $56.87 billion by 2022: Growth Drivers and Trends

The global aerospace robotics market is expected to reach $5,687 million by 2022, growing at a CAGR of 17.2% from 2016 to 2022. The articulated robot segment is expected to dominate the global market during the forecast period. North America is expected to generate the maximum revenue in the global market by 2022.

Download Sample Report - https://www.alliedmarketresearch.com/request-sample/2152

The robotics technology is used in aerospace industry for variety of applications during the manufacturing of aircraft components including welding, drilling, painting, material handling, cutting, assembly automation, and fabrication of engines. The aerospace robotics market offers automation, precision, and accuracy in repetitive tasks done in the manufacturing procedure,

The aerospace robotics market growth is fueled by enhanced need of automation for efficient aircraft production. In addition, increase in cost of labor worldwide. However, high installation cost of robotics technology hampers the growth of the aerospace robotics industry. The adoption of advanced technologies in the aircraft manufacturing industry including Internet of Things (IoT), 3D vision technology, artificial intelligence, and cloud computing is expected to present numerous opportunities to the global aerospace robotics industry.

In 2015, the drilling application segment generated the maximum revenue in the global market, owing to utilization of robotics technology for drilling holes in aircraft components with high precision. The inspection application segment is expected to grow at the highest CAGR during the forecast period, owing to the implementation of new technologies such as ultrasonic technology, 3D imaging technology, and other non-destructive methods used in the inspection process of aircrafts. The collaborative technology segment is anticipated to witness the highest growth rate, registering a CAGR of 19.8% from 2016 to 2022. The articulated type segment is expected to generate the highest revenue throughout the forecast period. The other (cylindrical, spherical, SCARA, and parallel) type is anticipated to grow at the highest rate during the study period.

Purchase this report@ 25%* discount (Offer Till 31st Jan 2018)
Buy Now: https://www.alliedmarketresearch.com/checkout/116401

In 2015, North America dominated the global aerospace robotics market. Asia-Pacific is expected to grow at the highest rate during the forecast period on account of the surge in the number of air passengers and continuous economic development in various countries such as India, Malaysia, China, and Singapore.

Competitive Analysis of Leading Industry Players:

•ABB Group
•KUKA AG
•Fanuc Corporation
•Yaskawa Electric Corporation
•Mitsubishi Electric Corporation
•JH Robotics Inc.
•Oliver Crispin Robotics Limited
•Electroimpact Inc.
•Universal Robots A/S
•AV&R Vision & Robotics Inc.

Analyst Review:

The aerospace industry uses robotics technology to manufacture aircraft components. Aerospace robots are used for various manufacturing process such as welding, drilling holes, inspection, painting, material handling, assembly automation, and others. The robotic devices offer automation, efficiency, and ability to accurately perform intricate tasks. Technologically advanced collaborative robots are used in the aerospace industry owing to increase in investment for automation among aircraft manufacturing companies and adoption of advanced technologies including Internet of Things (IoT), 3D technology, nanotechnology, and cloud computing. For instance, in November 2016, the Boeing Company announced to implement automated machines and robots for aircraft manufacturing in its 777X Composite Wing Center.

The growth of the aerospace robotics industry is hampered by high installation cost for implementing robots. However, rapid growth in the aerospace industry is expected to drive the aerospace robotics market. Leading players in the market have collaborated with other companies to expand their product portfolio and increase their market potential. North America generated the maximum revenue in the global aerospace robotics industry, owing to rapid technological advancements and heavy government expenditure for the development of the aerospace and defense industry.

For Purchase Inquiry - https://www.alliedmarketresearch.com/purchase-enquiry/2152

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.