Aerospace Robotics expected to grow

Market researcher Allied Market Research, part of Allied Analytics, projects that the global aerospace robotics market is expected to reach USD 5,687 million by 2022, growing at a CAGR of 17.2 percent from 2016 to 2022. The articulated robot segment is expected to dominate the global market during the forecast period. North America is expected to generate the maximum revenue in the global market by 2022. The robotics technology is used in aerospace industry for variety of applications during the manufacturing of aircraft components including welding, drilling, painting, material handling, cutting, assembly automation, and fabrication of engines. Growth is fueled by enhanced need of automation for efficient aircraft production. In addition, increase in cost of labor worldwide. However, high installation cost of robotics technology hampers the growth of the aerospace robotics industry. The adoption of advanced technologies in the aircraft manufacturing industry including Internet of Things (IoT), 3D vision technology, artificial intelligence, and cloud computing is expected to present numerous opportunities to the global aerospace robotics industry.