Portland, OR, Sept. 27, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global airport robots market generated $565.2 million in 2020, and is expected to reach $2.56 billion by 2030, registering a CAGR of 17.8% from 2021 to 2030.
Rise in air passenger traffic across the world and benefits such as faster check-ins and easier baggage handling have boosted the growth of the global airport robots market. However, high costs of airport robots hinder the market growth. On the contrary, surge in use of taxibots and increase in real and perceived threats to national security are expected to unlock new opportunities for the market players in the future.
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- The Covid-19 pandemic severely affected the manufacturing industry due to strict lockdown imposed in several countries to curb the spread of virus. Moreover, international travel was banned for a long duration in 2020. This decreased the demand for air travel and adoption of airport robots.
- The prolonged lockdown across European and Asian countries forced hardware part manufacturing facilities to shut down their operations. Moreover, it delayed development activities regarding manufacturing robust and innovative airport robots.
The report segments the global airport robots market on the basis of end user, application, type, and region.
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Based on type, the non-humanoid segment held the largest share in 2020, contributing to more than two-thirds of the market. However, the humanoid segment is estimated to portray the highest CAGR of 19.7% from 2021 to 2030.
On the basis of end user, the airport baggage system segment is projected to manifest the highest CAGR of 20.1% during the forecast period. However, the airport security segment held the lion’s share in 2020, accounting for nearly one-third of the market.
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The global airport robots market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2020, holding more than one-third of the market. Moreover, the region is projected to showcase the highest CAGR of 19.6% during the forecast period.
The global airport robots market includes an in-depth analysis of the prime market players such as ABB Ltd., Cyberdyne Inc., Avidbots Corp., LG Electronics Inc., ECA Group, SoftBank Corp., SITA, UVD Robots, Stanley Robotics, and YUJIN ROBOT Co., Ltd.
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