Artificial Intelligence and Robotics in Aerospace and Defense Market Size Projected to Generate a Revenue of $35,848.1 Mn by 2031Download Sample Reports Overview
The Global Artificial Intelligence and Robotics in Aerospace and Defense Market Size is predicted to be valued at $35,848.1 million by 2031, surging from $17,200.0 million in 2021, at a noteworthy CAGR of 7.9%.
Impact Analysis of COVID-19 on the Artificial Intelligence and Robotics in Aerospace and Defense Market
The pandemic has had a negative impact on the global artificial intelligence and robotics industry in aerospace and defense in 2020. High investment costs are necessary to begin the operation of industrial robots in various end use sectors, which is expected to hinder market growth during the forecast period. Cost reduction and improved manufacturing quality are expected to be the primary driving factors for market growth. The COVID-19 pandemic has caused significant disruptions in the demand, supply, import-export, and availability of artificial intelligence and robotics in aerospace and other end-use sectors. Despite the advancement of artificial intelligence and robotics in aerospace and military technology, the supply chain interruption of artificial intelligence systems during the COVID-19 pandemic had a minor impact on the market growth of artificial intelligence and robotics in aerospace and defense. This was caused by a lack of raw materials as a result of a disturbance in the supply chain. The influence of hardware systems such as artificial intelligence systems has been slightly negative. Additionally, it was a significant need for robots and artificial intelligence in aerospace and defense services offered to numerous defense companies globally. Furthermore, the government is spending a lot more money on the defense industry.
Global Artificial Intelligence and Robotics in Aerospace and Defense Market Analysis
Artificial intelligence and robotics in aerospace and defense help in performing repetitive tasks with the highest reliability and efficiency without human intervention. Rapid diversification in robot capabilities driven by innovation in machine learning, artificial intelligence, adaptive computing, and vision systems is boosting the market. Additionally, rising automation requirements for efficient aircraft production, increased use of robots to manage aircraft order backlog, and international labor cost increases are major factors driving market revenue growth. These are the major factors anticipated to boost the artificial intelligence and robotics in aerospace and defense market share during the analysis timeframe.
However, operating robots require highly skilled personnel due to complexity of how they work. One of the key obstacles preventing the aerospace business from embracing robotics is the difficulties companies have in locating skilled operators with the specific expertise required to manage robots. Additionally, performing preventative maintenance on a robot is complex and necessitates a certain skill set. Operators should have a basic understanding of how to control a robot and the software programmer that it uses. Moreover, due to a shortage of experienced people, robotics cannot be used extensively in the industrial process.
Robots are replacing traditional manufacturing processes in the aerospace sector to do tasks that need expertise and accuracy that humans cannot achieve. The integration of AI and robotics have facilitated smooth human-robot collaboration. The integration of robots along with human labor has resulted in enhanced productivity and efficiency. Additionally, in production, certain activities are better handled by humans while others are better completed by robots. The use of robots in aircraft production represents a significant growth potential for the AI and robotics markets in aerospace and defense.
Global Artificial Intelligence and Robotics in Aerospace and Defense Market, Segmentation
The global artificial intelligence and robotics in aerospace and defense market is segmented based on type, application, and region.
The type segment is further classified into hardware, software, and services. Among these, the software sub-segment accounted for a dominating market share in 2021. The significance of AI software in creating IT infrastructure and preventing security breaches is attributed to the segment's growth. The rising technical breakthrough in artificial intelligence develops unique AI software and related software development tools that are expected to accelerate AI in the military sector in the future years. AI software connected with computer systems performs complicated operations by combining data from hardware systems and processing it in an AI system to generate an intelligent response.
The application segment is further classified into military, commercial, and space. Among these, the military sub-segment accounted for a dominating market share in 2021. The use of artificial intelligence and robotics in aerospace & defense are used to track, manage, and schedule maintenance and to schedule repairs of the parts that are needed. The AI systems track historical data regarding breakdown, wear & tear to accurately predict whenever the parts need to be replaced and when the company can order those parts. Additionally, the aerospace companies are using AI to enhance the fuel efficiency for optimizing the fuel consumption to build custom profiles based on location, weather, aircrafts, pilots, and more. These factors are anticipated to propel the demand for artificial intelligence and robotics in the military sector.
The artificial intelligence and robotics in aerospace and defense market in the Europe region accounted for a dominating market share in 2021. With the help of automation and latest technologies, the AI-based devices can automatically send the environments to detect any unusual activity. This is made possible with the help of robotic sensors that facilitates original language reckoning actions to anticipate downfalls. The artificial intelligence and robotics in aerospace and defense market is developing as a result of increased adoption of automated material innovations and management, such as improved warehouse automation, lights-out automatic advancements, and expanding use of these devices by enterprises around the world. Over the anticipated time frame, these market trends for robots are expected to intensify.
Key Players in the Global Artificial Intelligence and Robotics in Aerospace and Defense Market
Some of the leading artificial intelligence and robotics in aerospace and defense market players are
- Airbus SE
- IBM Corporation
- Boeing Company
- GE Aviation
- Thales Group
- Lockheed Martin Corporation
- Intel Corporation, Raytheon Technologies Corporation
- General Dynamics Corporation
- Microsoft Corporation
In July 2021, ABB Group, a Swiss digital technology business, paid an undisclosed sum for ASTI Mobile Robotics Group (ASTI). With this purchase, ABB adds robotics and machine automation solutions to its automation portfolio, providing it a strong automation portfolio for the next generation of flexible automation. ASTI Mobile Robotics is a robotics firm that specializes in automation solutions for several sectors, including aerospace, using automated guided vehicles and autonomous mobile robots.
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