DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/v2szjw/global_aerospace) has announced the addition of the "Global Aerospace Service Robotics Market 2012-2016" report to their offering.

TechNavio's analysts forecast the Global Aerospace Service Robotics market to grow at a CAGR of 24.11 percent over the period 2012-2016. One of the key factors contributing to this market growth is the development of telerobotics for space. The Global Aerospace Service Robotics market has also been witnessing an increase in the demand for unmanned aerial vehicles. However, rapid technological changes could pose a challenge to the growth of this market.

Commenting on the report, an analyst from TechNavio's Automotive team said: ''The Global Aerospace Service Robotics market is witnessing the increasing adoption of lightweight and multi-functional robots. The size of robots is getting smaller every year. Vendors are developing smaller sized aerospace service robotics by reducing the size of the robot controllers. The trend of reducing the controller size is expected to increase and this will lead to a further reduction in the size of robots. In addition, vendors are developing multi-functional robots equipped with sensors and mobile units to do the required tasks autonomously with the cooperation of humans.''

According to the report, the realization of the benefits of robots is one of the major drivers in the Global Aerospace Service Robotics market. The reduction in errors while performing complex work utilizing robots is leading to increased operational efficiency. Further, the capability of aerospace service robotics to solve the issue of workforce scarcity in the Aerospace industry is inducing the growth of the Global Aerospace Service Robotics market.

Further, the report states that the reduction in budgets is one of the major challenges in the Global Aerospace Service Robotics market.

The key vendors dominating this space are AeroVironment Inc., European Aeronautic Defence and Space Co. N.V., Israel Aerospace Industries Ltd., and Dassault Aviation S.A.

The other vendors mentioned in the report are Schiebel Corp., BlueBotics SA, von Hoerner & Sulger GmbH, and MacDonald Dettwiler Space and Advanced Robotics Ltd.

Key questions answered in this report:

- What will the market size be in 2016 and what will the growth rate be?

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Research and Markets: Global Aerospace Service Robotics Market 2012-2016: AeroVironment Inc., European Aeronautic ...