Airport Robots Market Analysis and Forecast up to 2028

According to the new research report published by The Insight Partners, titled "Airport Robots Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Service Type, Media Type, and Vertical," the market is expected to grow from US$ 512.56 million in 2021 to US$ 2108.29 million by 2028; it is estimated to register a CAGR of 22.4% from 2021 to 2028.

Developing countries have become a hub of opportunities for various markets, including the airport robots market. Government authorities in these countries are planning and investing a huge amount in the advancement of technologies to improve the overall infrastructure. Transportation and logistics activities are huge contributors to the development of any country, and therefore, developing countries are extensively focusing on enhancing and improving their transportation and logistics infrastructure, including air, road, and sea transport. Airways is an important mode of transportation; hence, governments of developing countries have planned the development and revamping of various mid-size and large airports. For instance, in India, Netaji Subhash Chandra Bose International Airport in Kolkata has laid down an expansion plan for the airport. Similarly, Vietnam is planning to build one of the largest airports near its economic hub Ho Chi Minh City. Other developing countries, including the Philippines and Kuwait, are also expanding and revamping airports. As a part of the expansion and revamping strategy, these airports would also be passing tenders on acquiring technologically advanced equipment including robots for ensuring convenience and providing a superior experience to passengers. Hence, the airport robot market players have huge opportunities to offer best-in-class and highly reliable and cost-efficient robots for such new airport projects.

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The airport robots market is segmented into five major regions-North America, Europe, APAC, the MEA, and SAM. In 2020, APAC led the market, followed by Europe and North America. Governments of North American countries are emphasizing the expansion and enhancement of the infrastructure of airports. They have also increased the overall investments for this purpose, with a major focus on adopting advanced technologies such as robotics. The US leads the airport robots market in North America. The highly advanced and autonomous airport robots are well equipped with advanced components such as sensors, cameras, and mapping technologies.

The COVID-19 pandemic and the consequent containment measures have marginally impacted the airport robots market in 2020, as it has led to temporary halts in the manufacturing processes. Social distancing norms laid down by local and federal governments compelled manufacturers to shut down their units, which further disrupted the logistics activities. However, with the gradual resumption of manufacturing processes from the third quarter of 2020, the demand for airport robots has begun to rise; thus, manufacturers managed to stabilize the overall revenue and cash flow.

ABB Ltd, Cyberdyne Inc., LG Electronics Inc., SoftBank Corp., and Stanley Robotics SAS are among the major companies operating in the airport robots market.

Based on application, the airport robots market is segmented into landside/valet parking and terminal. The terminal segment led the market in 2020. On the basis of geography, the airport robots market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).

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Get More Related Link - https://www.marketwatch.com/press-release/light-attack-and-reconnaissance-aircrafts-market-analysis-key-business-strategies-by-leading-industry-players-forecasts-2028-2022-11-28?mod=search_headline

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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