Global Aerospace Robotics Market set to soar to USD 52.4 billion by 2033
From Globe Newswire: 2024-06-14 11:00:00
The Global Aerospace Robotics Market is set to skyrocket from USD 2.9 billion in 2023 to USD 52.4 billion by 2033, with a CAGR of 37.31%. Robotics in aerospace applications like drilling, welding, and painting are driving efficiency, precision, and cost reduction. North America leads the market, with Asia Pacific experiencing the fastest growth.
Aerospace manufacturers are increasingly turning to composite materials due to their lightweight and high strength-to-weight ratio, driving the composites segment to hold the largest market share from 2023 to 2033. Robotics play a crucial role in manufacturing composite components with precision and efficiency, leading to advancements in automated technologies like robotic composite layup.
Collaborative technology, specifically cobots, holds the largest market share in aerospace robotics from 2023 to 2033, as they work alongside human operators without safety barriers. Cobots excel in tasks like assembly and inspection, enhancing productivity and safety in aerospace production. The deployment of collaborative technologies is accelerating due to increased demand for accuracy and flexibility in production.
The hardware segment dominates the aerospace robotics market, offering advanced solutions designed for aerospace applications. Robotics hardware components like robotic arms, sensors, and controllers are crucial for enhancing manufacturing processes in the aerospace industry. Investments in R&D for robotics hardware are driving innovations in materials, sensor technologies, and control systems for better precision and efficiency.
Major vendors in the Global Aerospace Robotics Market include Kuka AG, ABB Group, Fanuc Corporation, Yaskawa Electric, and more. In July 2021, Fanuc Corporation announced the manufacture of its 750,000th industrial robot, setting a record in the robotics sector. The market is segmented by application, technology, solution, and region, with North America leading and Asia Pacific experiencing rapid growth due to increased automation investments in the aerospace sector.
Read more at Globe Newswire: Global Aerospace Robotics Market Size To Worth USD 7.31