The global aerospace robotics market was valued at USD 2.66 billion in 2019 and is anticipated to reach USD 48.39 billion by 2032, growing at a CAGR of 25.0% over the forecast period. North America led the market in 2019, holding a 37.97% share.

Robots play a crucial role in enhancing various operations in the aerospace sector, from manufacturing components to delivering finished products to end-users. The increased adoption of the Internet of Things (IoT) in robotics has transformed the industry, particularly in aircraft component manufacturing, where IoT-enabled robotics help reduce labor costs and improve quality and precision in producing critical parts. With features like high precision, reliability, speed, and cost-effectiveness, robotics are well-suited to address challenges faced by aircraft manufacturers, including substantial aircraft backlogs and tight delivery schedules. Automation through robotics can shorten manufacturing turnaround times, helping manufacturers fulfill delivery commitments to airlines more efficiently.

Fortune Business Insights™ lists out the names of all the prominent key players in the Aerospace Robotics Market. They are as follows:

• ABB Group (Switzerland)
• Electroimpact Inc. (The U.S.)
• Fanuc Corporation (Japan)
• Gudel AG (Switzerland)
• Kawasaki Robotics (The U.S.)
• KUKA AG (Germany)
• Oliver Crispin Robotics Ltd. (The U.K)
• TAL Manufacturing Solutions Limited India (India)
• Universal Robotics A/S (Denmark)
• Yaskawa Electric Corporation (Japan)

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessinsights.com/aerospace-robotics-market-103324

Drivers & Restraints-

Investments in R&D Activities to Develop AI-based Robots will Aid Growth

Several countries worldwide, such as Japan, Germany, South Korea, China, France, and the U.S. are extensively investing in research and development activities to develop novel AI-enabled robots. The South Korean government, for instance, planned to invest approximately USD 450 million in 2017 for the aerospace robotics sector. The main aim of this investment was to create an intelligent robot. However, for small and medium-sized enterprises (SMEs), a robot automation project can be challenging. Also, the operators must be trained to maintain and program these robots. These factors may hamper the aerospace robotics market growth in the near future.