Robotics in Shipbuilding Market to Exhibit a CAGR of 7.74% between 2021 and 2028

The global robotics in shipbuilding market size was USD 581.3 million in 2020. The market is projected to grow from USD 616.8 million in 2021 to USD 1001.4 billion in 2028 at a CAGR of 7.74% in the 2021-2028 period. This information is published by Fortune Business Insights™, in its report, titled, "Robotics in Shipbuilding Market, 2021-2028." According to our researchers, shipbuilding industry is promptly moving towards collaborative robots also recognized as cobots. These cobots join forces with humans and carry out the manufacturing efficiently and effortlessly. Moreover, transportable combined robots are capable to travel across the plants and help the employees. Besides, cobots can also be employed for proficiently carrying small as well as large modules to the assembly unit. Several robot producers are fixated on creating technologically innovative cooperative robots.
For example, READY Robotics, which is a U.S. situated start-up company advances collaborative robots that eases the industrial automation services. The corporation also provides Robotics-as-a-Service (RaaS) to the producers, to get paid with a monthly scheduled sort of income for machines and cobots.

COVID-19 Pandemic has Adversely Influenced Shipbuilding Industry

The COVID-19 pandemic has distraught the global economy since its arrival. The stringent government guidelines regarding lockdown in first two quarters of 2020 displayed a consequence of the decline in revenues of numerous sectors which mainly comprises of the naval sector. Furthermore, the reduced demand for maritime deals and logistics has resulted in the termination of ship sales and orders.
The cruise ship is the most fruitful segment in ship manufacture of the European dockyard. Nevertheless, during the COVID-19 outbreak, cruise ships were moored and anchored owing to the decline in commuter movement. This occasioned in a postponement in cruise supplies and withdrawal of orders in some cases.

Therefore, owing to the decrease in manufacturing procedures, the demand for robotics in shipbuilding diminished during the pandemic, which impacted the robotics in shipbuilding market growth.

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Report Coverage

We follow a wide-ranging research methodology that emphasizes primarily on presenting precise information. Our researchers have applied a data triangulation method which would help us to deliver reliable approximations and gauge the complete market dynamics. Moreover, our analysts have secured admission to numerous international as well also al funded databases for conveying the newest information so that the investors can finance only in the essential zones.

Segmentation

On the basis of type, the market is segregated into articulated robots, SCARA robots, Cartesian robots, cylindrical robots, polar robots, and collaborative robots. In terms of region, the global market is classified into North America, Europe, Asia Pacific, and the rest of the world.
By application, the market is further categorized into cutting, welding, painting, assembly, inspection, and others.
The welding segment is anticipated to dominate robotics during the mentioned period owing to the huge implementation of robots to bond parts of the ship. Soldering is a time-consuming and labour-persuaded operation, hence, shipbuilders are fixated majorly on mechanising the welding process to preserve the labour charges.

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Drivers and Restraints

Increasing Acceptance of Manufacturing Robots in Shipbuilding Industry to Thrust Growth
The shipbuilding corporations are financing in computerization of procedures such as soldering, painting, cutting, among others to hasten the industrial procedure and preserve the production budget. Countless crucial companies such as Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries, and Hyundai Heavy Industries have implemented soldering robots to decline the industrial charge of the ship.
For example, Geoje Shipyard, a brand owned by the Samsung Heavy Industries Co. Ltd. has established numerous robot systems such as spider automatic welding robot, vacuum blasting robots, wall-climbing robot, cleaning pipe robot as well as examination robot. After the acceptance of these automatons, the Geoje Shipyard documented an augmented production automation rate of 68%.

Regional Insights

Asia Pacific held the highest robotics in shipbuilding market share in 2020 and is anticipated to grow at an enhanced CAGR throughout the mentioned forecast period. The supremacy is on account of the existence of chief industrial robot producers such as Hyundai Heavy Industries Co. Ltd., Kawasaki Heavy Industries, the Fanuc Corporation, and many others in this region.
The market in Europe is estimated to grow considerably owing to the increasing capitalizations by shipbuilders in the European region for shipbuilding robots.
North America region is projected to grow owing to the growing research and development projects by the significant robot producers for artificial intelligence (AI)-based extremely proficient and minor robotic systems.

Competitive Landscape

Key players always engage in contracts and agreements as they are effective for broadening the business territories. For instance, in May 2021, Fincantieri S.p.A contracted an arrangement with Comau to create samples of robotic steel soldering solutions which shall be instigated primarily in Fincantieri boatyards. The first combined project experiments will be conducted at the Fincantieri shipyards in the first half of the year 2022.

Industry Development

October 2020: Sarcos Robotics, was granted an agreement by the Office of Naval Research in order to advance a remote-controlled model of the upper-body of the inventive Sarcos Guardian XO wearable automation. This fresh variation is to be fortified and fasten to a selection of mobile bottoms, such as wheeled or trailed automobiles, boom lifts, fork lifts, and bucket trucks in order to fulfil upkeep and transportation requirements.

List of Key Players Covered in this Market Report
• ABB (Switzerland)
• Kawasaki Heavy Industries, Ltd (Japan)
• KUKA AG (Germany)
• The Yaskawa Electric Corporation (Japan)
• KRANENDONK Production Systems BV (Netherlands)
• Hyundai Heavy Industries Co. Ltd. (South Korea)
• Samsung Heavy Industries Co. Ltd. (South Korea)
• RB3D (France)
• The Fanuc Corporation (Japan)
• READY Robotics Corporation (U.S.)

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