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Airport Robots Global Market Analysis, Trends, Growth, Research And Forecast 2033
Airport Robots Global Market Analysis
According to The Business Research Company's, The airport robots market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.5 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to early adoption of robotics, increasing passenger traffic, emphasis on efficiency and productivity, improved safety measures, cost-saving initiatives.
The airport robots market size is expected to see rapid growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to passenger traffic growth, automation for efficiency, adoption of ai and machine learning, cost reduction initiatives, collaboration with airlines and airports. Major trends in the forecast period include enhanced passenger experience, sanitization and cleaning robots, baggage handling automation, security and surveillance robots, contactless services.
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Market Drivers and Trends:
The increasing automation in airports is expected to boost the growth of the airport robots market going forward. Automation is the development and implementation of technology to produce and deliver goods and services with little or no human interaction. The use of automation technology, techniques, and procedures makes various tasks that were performed manually more efficient, dependable, and quicker. Airport robots are part of the automation technology that makes the various tasks performed in the airport more efficient and dependable. These robots perform the tasks with more accuracy and in lesser time which improves the experience of the passengers. For instance, in April 2023, SITA, a Switzerland-based information technology company in the air transport industry, released the 2022 Airport IT Insights Survey report, which shows that there has been an increase in investments in information technology for the introduction of digitalization and automated technologies in the airports, with the spending rising to an estimated $6.8 billion in 2022. This spending as a percent of revenue has risen from 4.66% in 2021 to 4.73% in 2022. Therefore, the increasing automation in airports is driving the growth of the airport robots market going forward.
The adoption of artificial Intelligence (AI) is the key trend gaining popularity in the airport robot market. Major companies operating in the airport robot market are focusing on developing new technologies to sustain their position in the market. For instance, in January 2022, Secom Co. Ltd., a Japan-based security service provider launched Cocobo. Cocobo is a security robot that uses cutting-edge technology such as AI and 5G to deliver a range of services such as patrols and inspections. Cocobo moves autonomously along a predetermined patrol path while avoiding objects and people. It can patrol spaces with many stories, is integrated with lifts, and can patrol outdoors in all-weather situations because of its waterproof feature.
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Major Key Players of the Market:
ABB Ltd.; Avidbots Corp.; Cyberdyne Inc.; ECA Group; LG Corporation; SITA; SoftBank Group Corp.; UVD Robots; Advanced Navigation and Positioning Corporation; Elenium Automation Pty Ltd.; Fives Group; GreyOrange Pte. Ltd.; Honeywell International Inc.; NEC Corporation; Secom Co. Ltd.; Vanderlande Industries B.V.; Stanley Robotics; YUJIN ROBOT Co. Ltd.; Aero Sentinel; Airport Robotics; Omron Corporation; RoboCV LLC; Aviabotics; Blue Ocean Robotics; Boston Dynamics; Clearpath Robotics; Simbe Robotics; F Robotics AG; Incheon International Airport Corporation; Knightscope
Airport Robots Market 2024 Key Insights:
• The airport robots market size will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%.
• The Surge Of Airport Robots Market Driven By Increasing Automation In Airports
• Airport Robot Market Embraces Innovation With Secom's Cocobo
• North America was the largest region in the airport robots market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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