Global Aerospace Robotics Market Share To worth USD 4.9 billion by 2026 | CAGR of 11.4%

The aerospace robotics market is estimated at USD 2.9 billion in 2021 and is projected to reach USD 4.9 billion by 2026, at a CAGR of 11.4% from 2021 to 2026. The aerospace robotics market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period. . Increase in global aircraft demand and manufacturing, increasing use of robots for efficient aircraft production processes, growing use of robotics to handle aircraft orders backlog, increasing manual labor cost are fueling the growth of the aerospace robotics market.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Kuka AG (Germany), ABB Group (Switzerland), FANUC Corporation (Japan), Yaskawa electric corporation (Japan), Kawasaki Heavy Industries Ltd (Japan), Mtorres (Spain), Oliver Crispin Robotics Limited (UK), Gudel AG (Switzerland), Electroimpact Inc. (US), Universal Robots A/S (Denmark).

Browse 190 market data Tables and 40 Figures spread through 219 Pages and in-depth TOC on "Aerospace Robotics Market"

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Aerospace Robotics Market Dynamics

Driver: Increase in manual labor cost

Aircraft manufacturers are trying to gain a competitive advantage over the other market players by providing lower-priced products. Increasing labor cost is one of the major concerns in the aerospace industry. The use of robots is expected to cut down labor costs and increase productivity. Though the initial cost of robots is high, it proves more beneficial than employing a huge workforce in the long term. Human workers need to be compensated in other ways, such as salaries, incentives, leaves, and allowances. However, a robot does not require any such compensation.

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Restraints: Lack of skilled operators

Highly skilled employees are required to operate robots, owing to their complex functioning. One of the major factors restraining the adoption of robotics in the aerospace industry is that companies find it difficult to employ skilled operators who possess the necessary technical skills to operate robots. Furthermore, the maintenance of a robot is not easy and requires a specific skill set to perform preventive maintenance. Operators should know running a robot and the basic knowledge of the software programs through which the robot operates. The shortage of skilled labor limits the manufacturers from using robots on a full scale in the manufacturing process.

Opportunities: Human-robot collaboration

Robots are replacing traditional production processes in the aerospace industry to perform tasks that require skills and precision that humans cannot achieve. The emergence of collaborative robots has increased collaboration between human-robot collaboration, with robots operating hand-in-hand with human employees. This integration of robots with the human workforce has resulted in increased productivity and efficiency. Furthermore, in manufacturing, some tasks can be better performed by humans, while others can perform better by robots. The introduction of robots in the manufacturing of aircraft is a key growth opportunity for the aerospace robotics market to explore the diverse strengths of humans and robots

Challenges: High initial cost of implanting robotics.

The incorporation of robots in manufacturing processes involves high initial costs. Manufacturers are planning to adopt robotics in their manufacturing process need to carefully consider the return on investment before applying a new system in their plants. The purchasing of sophisticated robots and software requires huge capital. Implementing new industrial robots, including robots, controllers, software, and other systems, for a specific application can cost around USD 100,000 to USD 150,000. The need for regular maintenance and skilled labor is also required to be considered. Order backlogs have led to aircraft manufacturers employing robots in their manufacturing processes despite the high cost. However, implementing completely automated processes is still a challenge due to the high initial cost.

Kuka AG focuses on customer requirements and expectations integrated at all levels of services through extensive research & development and technological advancements. The company's strength lies in the continuous improvement of its processes and methods. It focuses on improving processes by identifying and applying innovative concepts through investments in R&D activities. Its extensive capability to invest in automotive and aerospace platforms and programs through contracts, joint ventures, and partnerships allows the company to stand apart from its competitors. In April 2021, The Daimler Automotive Group and the KUKA AG signed a new framework contract for the coming years. The order encompasses a four-figure number of robots and linear units as well as other KUKA technologies such as software and controllers.

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China, Japan, and India in the Asia Pacific region are expected to increase acquisitions of robotic systems and invest in research and development in aerospace manufacturing. In addition to this, these countries are investing in automated solutions to strengthen their manufacturing capacities and make advancements in the manufacturing process. Companies from China and India are importing robotic technologies from Western countries to enhance the productivities of their facilities. However, many aerospace robotics manufacturers are based in the Asia Pacific region. Some of the key manufacturers are Yaskawa Electric Corporation (Japan), Kawasaki Heavy Industries, Ltd (Japan), and FANUC Corporation (Japan). In addition to this, China is an emerging country in the field of commercial aircraft manufacturing with the state-owned organization, Commercial Aircraft Corporation of China, Ltd. (COMAC).

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