The Airport Robots Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Airport Robots Global Market Report 2024, The airport robots market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.5 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to early adoption of robotics, increasing passenger traffic, emphasis on efficiency and productivity, improved safety measures, cost-saving initiatives.
The airport robots market size is expected to see rapid growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to passenger traffic growth, automation for efficiency, adoption of ai and machine learning, cost reduction initiatives, collaboration with airlines and airports. Major trends in the forecast period include enhanced passenger experience, sanitization and cleaning robots, baggage handling automation, security and surveillance robots, contactless services.
The increasing automation in airports is expected to boost the growth of the airport robots market going forward. Automation is the development and implementation of technology to produce and deliver goods and services with little or no human interaction. The use of automation technology, techniques, and procedures makes various tasks that were performed manually more efficient, dependable, and quicker. Airport robots are part of the automation technology that makes the various tasks performed in the airport more efficient and dependable. These robots perform the tasks with more accuracy and in lesser time which improves the experience of the passengers. For instance, in April 2023, SITA, a Switzerland-based information technology company in the air transport industry, released the 2022 Airport IT Insights Survey report, which shows that there has been an increase in investments in information technology for the introduction of digitalization and automated technologies in the airports, with the spending rising to an estimated $6.8 billion in 2022. This spending as a percent of revenue has risen from 4.66% in 2021 to 4.73% in 2022. Therefore, the increasing automation in airports is driving the growth of the airport robots market going forward.
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The airport robots market covered in this report is segmented –
1) By Type: Humanoid, Non-Humanoid
2) By Application: Landside, Terminal
3) By End User: Airport Security, Boarding Pass Scanning, Airport Baggage Handling System, Passenger Guidance, Other End Users
The adoption of artificial Intelligence (AI) is the key trend gaining popularity in the airport robot market. Major companies operating in the airport robot market are focusing on developing new technologies to sustain their position in the market. For instance, in January 2022, Secom Co. Ltd., a Japan-based security service provider launched Cocobo. Cocobo is a security robot that uses cutting-edge technology such as AI and 5G to deliver a range of services such as patrols and inspections. Cocobo moves autonomously along a predetermined patrol path while avoiding objects and people. It can patrol spaces with many stories, is integrated with lifts, and can patrol outdoors in all-weather situations because of its waterproof feature.
The airport robots market report table of contents includes:
1. Executive Summary
2.Airport Robots Market Characteristics
3.Airport Robots Market Trends And Strategies
4. Airport RobotsImpact Market analysis
5. Airport Robots Market Size And Growth
6. Airport Robots Segmentation
7. Airport Robots Regional And Country Analysis
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27. Airport Robots Competitive Landscape And Company Profiles
28. Airport Robots Key Mergers And Acquisitions
29.Airport Robots Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- ABB Ltd.
- Avidbots Corp.
- Cyberdyne Inc.
- ECA Group
- LG Corporation
- SITA
- SoftBank Group Corp.
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