Robotics in Shipbuilding Market Size, Qualitative Insights, Growth Opportunity, Regional Analysis by 2028
The global robotics in shipbuilding market size was USD 581.3 million in 2020. The market is projected to grow from USD 616.8 million in 2021 to USD 1001.4 million in 2028 at a CAGR of 7.74% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Robotics in Shipbuilding Market, 2021-2028.” According to our researchers, automatic robots are utilized in the shipbuilding sector for operation practices such as cutting, soldering and painting, among others. In the last couple of years, ship constructors have been ready to mechanize the shipbuilding procedure by applying robot technology, which is estimated to fuel the growth of automation in the shipbuilding market. For example, in 2018, Hyundai Heavy Industries Co. Ltd. initiated a committed robotics occupation to upsurge the production volume of marine ships. Furthermore, the increasing demand for the expansion of minor robot systems, particularly for soldering in cramped spaces, is projected to drive the robotics in shipbuilding market growth during the forecast period.
List of Key Players Covered in the Report
ABB (Switzerland)
Kawasaki Heavy Industries, Ltd (Japan)
KUKA AG (Germany)
The Yaskawa Electric Corporation (Japan)
KRANENDONK Production Systems BV (Netherlands)
Hyundai Heavy Industries Co. Ltd. (South Korea)
Samsung Heavy Industries Co. Ltd. (South Korea)
RB3D (France)
The Fanuc Corporation (Japan)
READY Robotics Corporation (The U.S.)
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/robotics-in-shipbuilding-market-103548
Drivers and Restraints
Augmented Practise of Robotics Technology to Fulfil Labour Gap Set to Boost Growth
The shipbuilding industry has been dependent on skilled laborers to accomplish responsibilities such as painting, soldering, and cutting, among others. Conservative approaches utilize a long time to accomplish the tasks. Therefore, shipbuilders are fixated on executing robot technology in order to decline the time as well as the price.
For example, Daewoo Shipbuilding & Marine Engineering applied a robotic arm called caddy, which weighed around 16 Kg to join steel parts. This robot facilitated Daewoo Shipbuilding to make savings roughly nearby USD 4.5 billion behind each vessel.
Shipbuilders are identifying the cost of progressive automation and are preventing people from doing unsafe and repetitive chores. Besides, robot technology is extremely resourceful and evidences fulfilling the labor gap in the shipbuilding sector.
Regional Insights
Asia Pacific held the highest robotics in shipbuilding market share in 2020 and is anticipated to grow at an enhanced CAGR throughout the mentioned forecast period. The supremacy is on account of chief industrial robot producers such as Hyundai Heavy Industries Co. Ltd., Kawasaki Heavy Industries, the Fanuc Corporation, and many others in this region.
The market in Europe is estimated to grow considerably owing to the increasing capitalizations by shipbuilders in the European region for shipbuilding robots.
North America region is projected to grow owing to the growing research and development projects by the significant robot producers for artificial intelligence (AI)-based extremely proficient and minor robotic systems.
Competitive Landscape
Key Players Invest in Robot Manufacturing to Attain Reasonable Authority in Market
Key players such as Hyundai Heavy Industries Co. Ltd. is a chief shipbuilding company that is concentrated on creating robotic solutions to reduce manufacturing charges.
For instance, in 2017, Hyundai Heavy Industries Co. Ltd. declared to set up its units into distinct companies. The robotics division was created into a distinct holding company called “Hyundai Robotics,” which would be completely concentrating on robotic technology.
Additional vital players are financing the research and development of progressive robotic technology by implementing artificial intelligence (AI), the Internet of Things (IoT), and augmented reality (AR).
Industry Development
October 2020: Daewoo Shipbuilding & Marine Engineering (DSME) designed and created an A.I.-based hot processing automated machine named “Goknuri”. This robot applies artificial intelligence (AI) and big data to generate superior quality goods with the supervision of lesser skilled labors. The data extracted is valuable for the production of other ships as well.