Airport Robots Market

Global Airport Robots Market Size, Share, Growth Analysis, By End User(Airport Security, Boarding Pass Scanning), By Application(L, side) - Industry Forecast 2024-2031

Report ID: SQMIG45K2016 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 65

Global Airport Robots Market Dynamics

Airport Robots Market Driver

  • Airlines' increasing emphasis on providing advanced airport facilities to improve passenger experience and security fuels the demand for security and airport cleaning robots. Airport security is a sensitive issue for airport authorities, and it also necessitates manual work, raising overall security operation costs. On the other hand, the use of robots reduces the cost of security operations while increasing efficiency and accuracy. As a result, the Global Airport Robots Market is expected to expand during the forecast period.
  • The number of air passengers has increased exponentially in the last decade. The International Air Transport Association (IATA) predicts that the number of airline passengers will more than double to 8.2 billion by the end of 2037. The constant increase in air traffic raises the demand for new airports as well as quick and efficient passenger services. As a result, airports are replacing traditional systems with highly advanced and automatic robotic systems in order to reduce air passenger wait times. The airport robot is ideal for reducing passenger check-in time. Moreover, due to increased air traffic, the airport authority faces car parking challenges. This problem can also be mitigated by deploying advanced, intelligent airport robot parking.

Airport Robots Market Restraint

  • Airport system and equipment manufacturers are focusing on developing technologically advanced systems to replace traditional airport systems. Moreover, airport authorities are looking forward to the development of the smart airports, an initiative initiated by governments from various countries. However, high costs associated with robot production and implementation at airports, as well as high costs associated with maintenance, are impeding Airport Robots Market growth.
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The Global Airport Robots Market size was valued at USD 0.65 billion in 2021, and it is expected to reach a value of USD 2.08bBillion by 2028, at a CAGR of 18.10 % over the forecast period (2022-2028).

 

Major Airport Robots Market players such as Stanley Robotics, SITA, ABB Ltd, and LG Electronics Inc. are constantly innovating in order to provide advanced airport robots. Moreover, they are increasing their R&D investment as well as their interest in technological adoption, strategic acquisition, and collaboration in order to design and develop modern humanoid airport robots. Furthermore, to sustain their Airport Robots Market position, key companies have implemented organic and inorganic growth strategies such as new robot launches and long-term contracts with airport authorities. 'LG Electronics Inc. (South Korea)', 'SoftBank Corp. (Japan)', 'ABB Ltd (Switzerland)', 'Stanley Robotics (UK)', 'SITA (Switzerland)', 'YUJIN ROBOT Co., Ltd. (South Korea)', 'Universal Robots A/S (Denmark)', 'ECA GROUP (France)', 'Avidbots Corp (US)', 'Cyberdyne Inc. (Japan)'

 

Airlines' increasing emphasis on providing advanced airport facilities to improve passenger experience and security fuels the demand for security and airport cleaning robots. Airport security is a sensitive issue for airport authorities, and it also necessitates manual work, raising overall security operation costs. On the other hand, the use of robots reduces the cost of security operations while increasing efficiency and accuracy. As a result, the Global Airport Robots Market is expected to expand during the forecast period.

 

Among all the segments, airport security now has the biggest share. One of the main worries that airport personnel face globally is airport security. Airport officials are being extra cautious and focused on airport security as a result of the rise in terrorism throughout the world.

 

In 2021, North America has a market size of more than 100 million. North America has been a Airport Robots Market leader in the aerospace sector, thanks to large corporations and a strong infrastructure. A large number of airports in the United States, as well as the rapid adoption of modern airport technologies to improve passenger experience, are expected to drive Airport Robots Market growth in North America. During the forecast period, the Asia Pacific region is expected to grow at a faster rate in the market. China has one of the world's fastest-growing aviation markets. According to the International Air Transport Association, China will soon overtake the United States as the world's largest aviation market.During the forecast period, the Asia-Pacific region is anticipated to develop faster than other regions in the airport robotics market. One of the air transport markets with the highest growth is China. By the middle of 2022, China is expected to overtake the United States as the world's largest aviation market, according to the IATA (International Air Transport Association). Long-term, a high passenger demand is projected to be supported by China's economy's rebalancing.

 

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