Robotic Process Automation In Aerospace Market Revenue, Product Launches, Regional Share Analysis & Forecast Till 2028
Global Robotic Process
Automation (RPA) in aerospace market size reached USD 7.35 Billion in 2021 and is
expected to register a revenue CAGR of 27.8% during the forecast period,
according to latest analysis by Emergen Research. Rising demand for automation
in aerospace and increase in adoption of RPA in revenue cycle management are
key factors expected to drive market revenue growth globally.
Rising demand
for automation in aerospace and increase in adoption of RPA in revenue cycle
management are some key factors driving market revenue growth
Rising
demand for automation in aerospace manufacturing is expected to support market
revenue growth during 2022-2030. Automation in aerospace manufacturing has led
to increase in efficiency, reduced errors and risk, better profitability, and
ensured proper compliance. It also helps in managing various aspects of
aerospace manufacturing process such as supply chain management, inventory
management and others, along with conducting internal audits. For instance,
automated internal audits can expand coverage of audit by examining full
populations of data rather than sampling. It also enables conducting multiple
audits thereby giving a comprehensive report about financial health and
identifying revenue leakages of the airline company. This will lead to rise in
demand for RPA in aerospace and is expected to boost growth of the market
globally.
RPA
is suitable to perform back-end office functions such as crew scheduling,
Passenger Revenue Accounting (PRA), Cargo Revenue Accounting (CRA), and others.
RPA is also utilized for management of revenue distribution, which is another
factor that led to increase in demand for RPA in aerospace. Airline’s finance
team can use RPA to identify top agencies against whom Agent Debit Memos (ADMs)
were issued. In addition, data analytics and RPA can drive speed, accuracy, and
volume coverage in auditing revenue from tickets issued by travel agencies with
minimum manual intervention.
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Furthermore,
rapid advancement in sensing technology has led to development of
state-of-the-art solutions for modern aircraft in order to mitigate risks. For
instance, smart skin technology used to manufacture body of aircraft,
integrates thousands of micro sensors that records wind speed, temperature, and
physical strain movement with more accuracy than current sensor technology.
Outputs from all these wireless sensors with big data analysis will help in
risk management and make air travel safer. These factors are expected to boost
revenue growth of market during the forecast period.
However,
higher cost of implementing RPA, increase in fuel prices for airlines, and
stringent government regulation in the aerospace will hamper market revenue
growth to some extent during forecast period.
Some Key Highlights From the Report
- Software
segment is expected to register a substantially rapid revenue CAGR during
the forecast period due to increasing demand for solutions in order to
automate manual tasks and assist workforce which will significantly reduce
operational expenditure thereby reducing debt of airline operators
- On-cloud
segment is expected to register significantly robust revenue growth rate
over the forecast period due to increase in demand for cost-effective
solutions for installing and maintaining the cloud, also cloud-based
deployment simplifies implementation of applications on the cloud platform
and reduces dependency on Information Technology (IT) and support team.
Besides on-cloud deployment facilitates remote accessibility which enables
users to use software systems without downloading it.
- North
America market is expected to register a considerably large revenue share
in RPA in aerospace market over the forecast period than other regional
markets due to robust presence of major market players providing RPA
services and solutions such as Pegasystems Inc, Automation Anywhere, Inc.,
WorkFusion, Inc., and International Business Machines Corporation among
others in countries in the region
- Major
companies in the market report include Pegasystems Inc., Automation
Anywhere, Inc., Blue Prism Limited, EdgeVerve Systems Limited, Kofax Inc.,
UiPath Inc., Celaton Limited, AirAsia Group Bhd, International Business
Machines Corporation, and WorkFusion, Inc.
- In June
2021, International Business Machines Corporation announced that Turkey’s
digital airline, adopted IBM Robotic Process Automation (RPA) to automate
its internal processes and improve staff efficiency. It uses IBM’s
Artificial Intelligence (AI)-powered automation solution to optimize and
monitor its operations and processes while improving talent management and
helping its employees focus on higher value tasks.
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Emergen
Research has segmented global RPA in aerospace market on the basis of process,
operation, component, organization size, deployment, and region:
- Process
Outlook (Revenue, USD Billion; 2019–2030)
- Automated
Solution
- Crew
Scheduling
- Revenue
Management
- Passenger
Revenue Accounting (PRA)
- Cargo
Revenue Accounting (CRA)
- Manufacturing
of Aircrafts
- Internal
Audit
- Decision
Support & Management Solution
- Air
Traffic Control Management
- Interaction
Solution
- Operation
Outlook (Revenue, USD Billion; 2019–2030)
- Rule
Based
- Knowledge
Based
- Component
Outlook (Revenue, USD Billion; 2019–2030)
- Software
- Services
- Organization
Size Outlook (Revenue, USD Billion; 2019–2030)
- Large
Enterprises
- Small
& Medium Enterprises
- Deployment
Outlook (Revenue, USD Billion; 2019–2030)
- On-cloud
- On-premise
Regional Outlook:
(Revenue, USD Billion; 2018-2028)
North
America (U.S.) (Canada) (Mexico)
Europe
(Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
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Table of Contents:
Chapter 1 includes an introduction of the global Robotic process
automation in aerospace Market, along with a comprehensive market overview, market scope, product
offerings, and an investigation of the market drivers, growth opportunities,
risks, restraints, and other vital factors.
Chapter 2 offers an in-depth
analysis of the key manufacturers engaged in this business vertical, along with
their sales and revenue estimations.
Chapter 3 elaborates on the
highly competitive terrain of the market, highlighting the key manufacturers
and vendors.
In Chapter 4, our team has
fragmented the Robotic process automation in
aerospace market on the basis of regions, underscoring the sales, revenue, and
market share of each region over the forecast timeline.
Chapters 5 and 6 have laid
emphasis on the Robotic process automation in aerospace market segmentation based on
product type and application
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Finally, all aspects of the Robotic Process
Automation (RPA) in aerospace market are quantitatively as well qualitatively
assessed to study the global as well as regional market comparatively. This
market study presents critical information and factual data about the market
providing an overall statistical study of this market on the basis of market
drivers, limitations and its future prospects.
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