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Soaring Demand Set to Propel Airport Robots Market to $3.22 Billion by 2029
Airport Robots
What Is the Expected CAGR for the Airport Robots Market Through 2025?
In recent times, there has been a swift expansion in the market size of airport robots. The projections predict an increase from $1.47 billion in 2024 to $1.71 billion in 2025, with a compound annual growth rate (CAGR) of 16.0%. Factors such as the early adoption of robotics, escalating passenger traffic, focus on enhancing efficiency and productivity, upgraded safety protocols, and cost-efficient activities have all contributed significantly to the growth in the historic period.
What's the Projected Size of the Global Airport Robots Market by 2029?
In the coming years, the airport robots market is anticipated to experience a brisk expansion. The market is expected to reach "$3.22 billion by 2029, with a compound annual growth rate (CAGR) of 17.2%. Factors contributing to this predicted growth during the forecast period include an increase in passenger traffic, the implementation of automation for improved efficiency, the incorporation of artificial intelligence and machine learning, as well as cost-cutting measures, and partnerships with airlines and airports. Some key trends predicted for the forecast period entail improved passenger experiences, the introduction of robots for sanitizing and cleaning, automation of baggage handling, as well as security and surveillance robots and the proliferation of contactless services.
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Top Growth Drivers in the Airport Robots Industry: What's Accelerating the Market?
The proliferation of automation in airports is predicted to fuel the expansion of the airport robots market in the future. Automation involves utilizing advanced technology for the production and delivery of goods and services, with little to minimal human involvement. By employing automation technology, practices, and procedures, various tasks previously carried out manually are transformed into more efficient, reliable, and rapid activities. Airport robots, being part of this automation technology, enhance the efficiency and reliability of several operations undertaken at airports. These robots execute tasks more accurately and promptly, thereby elevating passenger experiences. For example, SITA, a Swiss IT firm in the air transport field, published the 2022 Airport IT Insights Survey report in April 2023. The report revealed an uptick in IT investment for the integration of digitalization and automated technologies in airports, with expenditure attaining an estimated $6.8 billion in 2022. This investment as a percentage of revenue saw an increase, rising from 4.66% in 2021 to 4.73% in 2022. Hence, the surge in airport automation is propelling the growth of the airport robots market in the proceeding period.
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What Trends Will Shape the Airport Robots Market Through 2029 and Beyond?
The surge in the use of artificial Intelligence (AI) is a leading trend in the airport robot market. Prominent companies involved in the airport robot sector are concentrating their efforts on the advancement of new technologies to maintain their market dominance. For instance, in January 2022, Japan's security service provider, Secom Co. Ltd., unveiled Cocobo, a security robot. Using state-of-the-art technologies like AI and 5G, Cocobo offers a variety of services including patrolling and inspecting. Cocobo autonomously navigates along a preset patrol path, dodging objects and people. It is capable of patrolling multi-story spaces, is merged with elevators and can work outdoors in any weather condition, thanks to its waterproof property.
What Are the Main Segments in the Airport Robots Market?
The airport robots market covered in this report is segmented -
1) By Type: Humanoid, Non-Humanoid
2) By Application: Landside, Terminal
3) By End User: Airport Security, Boarding Pass Scanning, Airport Baggage Handling System, Passenger Guidance, Other End Users
Subsegments:
1) By Humanoid: Service Robots, Security Robots
2) By Non-Humanoid: Baggage Handling Robots, Cleaning Robots, Delivery Robots
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Which Top Companies are Driving Growth in the Airport Robots Market?
Major companies operating in the airport robots market include 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
Which Regions Will Dominate the Airport Robots Market Through 2029?
North America was the largest region in the airport robots market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global airport robot market report during the forecast period. The regions covered in the airport robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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