The global aerospace robotics market size was US$ 3.1 billion in 2021. The global aerospace robotics market is forecast to grow to US$ 8.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 11.1% during the forecast period from 2022 to 2030.
Aerospace Robotics technology is widely used to manufacture aircraft in the aerospace industry. The technology performs several tasks, such as drilling engine holes, welding metal parts, and painting airframes.
Factors Influencing the Market
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic has negatively affected the global aerospace robotics market. Due to the pandemic, governments across the globe announced stringent lockdown and banned import-export of raw material items. The regulations remained for more than 2 years, which impeded the manufacturing activities in the aerospace industry. As a result, it halted the growth of the global aerospace robotics market. Furthermore, the demand for aerospace also reduced drastically due to the declining air traffic, which hampered the growth of the aerospace robotics market.
Regional Analysis
The Asia-Pacific aerospace robotics market will exhibit the highest CAGR. It is owing to the increasing focus of governments on the aerospace and defense sector. The government bodies in the region are investing highly in this sector. Moreover, the growing number of projects is increasing the demand for efficient technology. As a result, it will benefit the Asia-Pacific aerospace robotics market during the forecast period.
Competitors in the Market
Market Segmentation
The global aerospace robotics market segmentation focuses on Technology, Application, Type, and Region.
By Technology
By Application
By Type
By Region