Press release
Airport Robotics Market Projected for Explosive 17.8% CAGR Growth Through 2030
Airport Robots Market
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Rise in air passenger traffic across the world and benefits such as faster check-ins and easier baggage handling have boosted the growth of the global airport robots market. However, high costs of airport robots hinder the market growth. On the contrary, surge in use of taxibots and increase in real and perceived threats to national security are expected to unlock new opportunities for the market players in the future.
Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. U.S. dominated the global airport robots market share in North America in 2020, owing to increase in R&D activities, technological developments by big players, and rapid adoption of innovative technologies in making safer, convenient, & efficient airport robots. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in demand for faster and convenient services at airports.
Increase in air passenger traffic across the globe and benefits, such as faster check-ins and easier baggage handling, are expected to drive the airport robots market during the forecast period. However, high cost of airport robots is anticipated to hamper the growth of the market. Moreover, rise in usage of taxibots and increase in real & perceived threats to national security are expected to offer lucrative opportunities in future.
The airport robots market segmentation is based on end user, application, type, and region. The end user segment is further divided into airport security, boarding pass scanning, airport baggage system, passenger guidance, and others. The application segment is further bifurcated into landside and terminal. Based on type, the airport robots market is classified into humanoid and non-humanoid. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on type, the non-humanoid segment held the largest share in 2020, contributing to more than two-thirds of the market. However, the humanoid segment is estimated to portray the highest CAGR of 19.7% from 2021 to 2030.
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On the basis of end user, the airport baggage system segment is projected to manifest the highest CAGR of 20.1% during the forecast period. However, the airport security segment held the lion's share in 2020, accounting for nearly one-third of the market.
The global airport robots market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2020, holding more than one-third of the market. Moreover, the region is projected to showcase the highest CAGR of 19.6% during the forecast period.
The global airport robots market includes an in-depth analysis of the prime market players such as ABB Ltd., Cyberdyne Inc., Avidbots Corp., LG Electronics Inc., ECA Group, SoftBank Corp., SITA, UVD Robots, Stanley Robotics, and YUJIN ROBOT Co., Ltd.
Key players operating in the global airport robots market include ABB Ltd., Avidbots Corp., Cyberdyne Inc., ECA Group, LG Electronics Inc., SITA, SoftBank Corp., Stanley Robotics, UVD Robots, and YUJIN ROBOT Co., Ltd.
Key Benefits For Stakeholders:
➢This study presents analytical depiction of the global airport robots market analysis along with the current trends and future estimations to depict imminent investment pockets.
➢The overall airport robots market opportunity is determined by understanding profitable trends to gain a stronger foothold.
➢The report presents information related to key drivers, restraints, and opportunities of the global airport robots market with a detailed impact analysis.
➢The current airport robots market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
➢Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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