North America Airport Robots Industry Forecast 2021-2028; Growth at 22.6% CAGR – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD)–The “North America Airport Robots Market Forecast to 2028 – Impact of COVID-19 and Regional Analysis by Application (Ground / Valet and Terminal Parking)” the report was added to ResearchAndMarkets.com offer.
According to the study, the market is expected to reach US $ 428.4 million by 2028, compared to US $ 103.08 million in 2021. The market is expected to grow at a CAGR of 22.6% from 2021 to 2028.
The increasing construction of new airports and the requirement for robust airport security and increasing demand for advanced robots are the major growth driver of the airport robot market in North America. However, high initial and maintenance costs are hampering the growth of the airport robot market in North America.
Regarding COVID-19, North America is badly affected – particularly the United States. The country’s federal government did not impose a nationwide lockdown in 2020; however, the governors of a few states have decided to impose the lockdown in their respective states. The lockdown has hampered the operations of various industries, including manufacturing and IT. However, essential industries such as Fast Turning Consumer Goods (FMCG) and Pharmaceuticals have had to keep operating.
Various large construction projects, including the modification and expansion of the airport, have also been halted due to COVID-19, especially in countries like the United States and Canada. For example, Raleigh-Durham International Airport was set to expand its Terminal 1 from nine gates to up to 22 and proceed with a new security checkpoint and consolidated car rental center.
The planned expansion has been halted due to the pandemic. Likewise, an infrastructure project at Vancouver International Airport has been halted due to the COVID-19 crisis. Due to the shutdown of such a large project (extended to Q3 2020), airport robot manufacturers lost a lot of potential customers / projects which impacted their overall cash flow. The impact was not only on the demand side, but also on the supply side.
As the region’s manufacturing facilities were not operational for months, the supply chain was disrupted and the supply of raw materials was cut off. Because of this, OEMs faced a major challenge in sustaining quarterly revenue. But the airport has also seen the importance of robots and other machinery due to the reduction in human contact in COVID-19. However, the analysis indicates that fiscal 2021 would result in additional demand for airport robots, as the airport development project resumes and airport authorities prepare to focus significantly on health and safety. passenger safety.
The North America airport robot market is segmented by application and country. On the basis of applications, the North America airport robot market is segmented into parking lot and city side terminal / valet. The terminal segment dominated the North America airport robot market in 2020 and the same segment is expected to experience the fastest growth during the forecast period.
The terminals segment is further divided into airport security and cleaning, boarding pass scanning, airport baggage system and passenger guidance. The airport security and cleaning segment dominated the North America airport robot market in 2020 and the same segment is expected to experience the fastest growth during the forecast period. Based on the country, the market is segmented between United States, Canada, and Mexico.
ABB Ltd. Avidbots Corp. CYBERDYNE INC. LG Electronics, SITA and SoftBank Robotics are among the leading companies in the North American airport robot market. The companies are focused on adopting organic growth strategies such as product launch and expansion to maintain their position in the dynamic market. For example, in 2021, SITA announced that it had completed the installation of its next-generation passenger handling infrastructure at Vaclav Havel Airport in Prague, paving the way for future fully mobile and contactless passenger travel.
Key topics covered
1.1 Scope of the study
1.2 Guide to the research report
1.3 Market segmentation
2. Key points to remember
3. Research methodology
3.2 Secondary research
3.3 Primary research
4. North America Airport Robots Market Landscape
4.1 Market overview
4.2 Porter’s five forces analysis
4.3 Ecosystem analysis
4.4 Expert opinion
5. North America Airport Robots Market – Key Market Dynamics
5.1 Main market drivers
5.1.1 Growing construction of new airports and the requirement for robust airport security
5.1.2 Increasing demand for advanced robots
5.2 Main market constraints
5.2.1 High initial and maintenance cost
5.3 Key Market Opportunities
5.3.1 Growing potential in several countries
5.4 Future trends
5.4.1 Improvement of sanitation programs and procedures at airports
5.5 Impact analysis of conductors and constraints
6. Airport Robots Market – North America Analysis
6.1 North America Airport Robots Market Overview
6.2 North America Airport Robots Market Revenue Forecast and Analysis
7. North America Airport Robots Market Revenue and Forecast to 2028 – By Application
7.2 North America Airport Robots Market, by Application (2020 and 2028)
7.3 City side parking / valet parking
8. North America Airport Robots Market – Country Analysis
9. North America Airport Robots Market – COVID-19 Impact Analysis
10. Industry landscape
10.2 Market initiatives
11. Company profiles
11.1 Avidbots Corp.
11.1.1 Key facts
11.1.2 Company description
11.1.3 Products and services
11.1.4 Financial overview
11.1.5 SWOT Analysis
11.1.6 Key developments
11.2 CYBERDYNE Inc.
11.3 SoftBank Robotics
11.5 ABB SA
11.6 LG Electronics
For more information on this report, visit https://www.researchandmarkets.com/r/ek5445