Global Airport Robots Market to Fly Higher to Reach $2.08 Billion Revenue But Current Business Model is Not Sustainable and Full of Challenges
Global airport robots market was valued at USD 0.65 billion in 2021, and it is expected to reach a value of USD 2.08 billion by 2028, at a CAGR of 18.10 % over the forecast period (2022-2028).
Westford, USA, Dec. 07, 2022 (GLOBE NEWSWIRE) — As the global airport robots market looks to automate many of its processes, robots are increasingly being seen as a way to improve efficiency and cut costs. From check-in and baggage handling to security and passenger screening, there are many potential applications for robots in airports. In addition, robots can also be used for security tasks such as screening passengers and baggage, which can help to speed up the process and improve security. Another key trend driving the growth of airport robots is the increasing demand from passengers for a better travel experience.
As travelers become more demanding, they expect airports to offer a seamless and convenient travel experience from start to finish. According to a new report on the global airport robots market from market research firm SkyQuest, the airport robots’ market is set to grow significantly in the next few years, with annual sales expected to surpass $2 billion by 2028. The report covers the current market for airport robots, as well as detailed analysis of the key trends and drivers shaping the future of the market.
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According to our study, the majority of airport robots are currently being deployed in Asia-Pacific airports, followed by North American and European airports. The major players in the airport robots market include Japan’s Yaskawa Electric, South Korea’s LG Electronics, and China’s Alibaba Group. The major players in the industry are still trying to figure out what works and what doesn’t. This is reflected in the large number of different airport robot projects that have been announced over the past few years. Many of these projects have failed to take off, or have been shelved indefinitely. However, there are a few bright spots in the industry. SkyQuest’s analysis shows that some airport robots are beginning to find a place in airports around the world. For example, Flytrex’s cargo drones are being used to deliver food and other items to passengers at Reykjavik Airport. And, at Zurich Airport, robotic concierges are being trialed to help guide passengers through the terminal.
However, the report states that it is still too early to identify any clear leaders in the industry. The analysis provides a comprehensive overview of the airport robots market, highlighting key trends and drivers of growth. This information will be valuable for those looking to enter this burgeoning market or invest in it.
Airports are Deploying AI driven Assistance Robot in the Global Airport Robots Market
More airports are deploying AI driven assistance robots in an effort to improve customer service and satisfaction. The robots, which are about the size of a large briefcase, can be found in a number of different locations throughout the airport, including the baggage claim area, ticketing counters, and security checkpoints. The robots are equipped with a number of sensors and cameras that allow them to navigate their surroundings and avoid obstacles. They also have the ability to interact with passengers, providing them with information about their flight, directional guidance to their gate, and even answering basic questions.
The deployment of these robots is part of a larger trend of airports using AI and automation to improve the travel experience for passengers in the global airport robots market. In the future, it is likely that even more airports will be using AI driven assistance robots as well as other forms of AI and automation to provide a better customer experience.
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While assistance robots are still in the early stages of development, they have the potential to greatly improve the airport experience for both passengers and staff. In addition, they can free up staff members to focus on more important tasks, such as security. As AI technology continues to develop, it is likely that we will see even more airports deploying AI-driven assistance robots.
- In December 2022, Heathrow Airport deployed a robot dog to enhance safety and efficiency of the airport’s major construction projects.
- In December 2022, HDOT deployed a cleaning robot at DANIEL K. INOUYE INTERNATIONAL AIRPORT.
- In November, Pittsburg Airport management announced a deployment of robots for providing customer services in the airport robots market.
- In November 2022, Cincinnati/Northern Kentucky International Airport (CVG) announced a plan to deploy fully autonomous delivery robots for food and retail.
- In November 2022, Clockwork deployed manicure robot at airport spa chain
- In June 2022, Bengaluru airports deployed over 10 robots to assist passengers with boarding gate, baggage claim area, shopping areas, wash rooms, and drinking water facilities among others.
SkyQuest Believe Current Business Model In Airport Robot Market is Not Sustainable and Full of Challenges
Detailed analysis of the airport robots market is bleak. The company believes that the industry is in a “state of flux” and that there is an over-reliance on technology. he airport robot market is currently highly fragmented. There are a large number of small players competing for a share of the market. This makes it difficult for any one player to achieve a significant scale. The business models of the leading companies in the airport robot market are not sustainable. They are based on selling robots at high prices and then making up the loss through service contracts. This is not a viable long-term strategy as it is not possible to continue to increase prices indefinitely. The competition in the airport robot market is also intensifying. New entrants are coming into the market with more sophisticated robots that are available at lower prices. This is putting pressure on the established players to reduce their prices.
The report states that the airport robots market is “facing an existential crisis”. The main issues facing the industry are:
- There is an over-reliance on technology and this is causing problems with maintenance and repairs.
- The business model for airport robots is not sustainable in the long-term.
- The future of airport robots lies in niche applications rather than mass market adoption.
- The current players in the airport robots’ market are not well placed to capitalize on future opportunities.
The report on the global airport robots market contains a number of recommendations for the airport robots industry, including:
- Finding new applications for airport robots beyond security and passenger handling.
- Reinventing the business model to make it more sustainable.
- Investing in research and development to create new and improved products.
- Working together to improve standards and promote the benefits of using airport robots.
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Top Players in Global Airport Robots Market
- LG Electronics Inc. (South Korea)
- SoftBank Corp. (Japan)
- ABB Ltd (Switzerland)
- Stanley Robotics (UK)
- SITA (Switzerland)
- YUJIN ROBOT Co., Ltd. (South Korea)
- Universal Robots A/S (Denmark)
- ECA GROUP (France)
- Avidbots Corp (US)
- Cyberdyne Inc. (Japan)
Related Reports in SkyQuest’s Library:
Global Robotic Process Automation Market
Global Wireless Microphone Market
Global Digital Fault Recorder Market
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