Report Highlights
- The global market for robotics technologies should grow from $38.1 billion in 2018 to $64.0 billion by 2023 with a compound annual growth rate (CAGR) of 10.9% for the period of 2018-2023.
- The global market for industrial furnaces should grow $10.6 billion in 2018 to $16.4 billion by 2023 with a CAGR of 9.1% for the period of 2018-2023.
- The global market for airport fuel systems should grow from $7.7 billion in 2018 to $10.6 billion by 2023 with a CAGR of 6.6% for the period of 2018-2023.
In recent times, the engineering industry is adopting several digital technologies that includes digital sensors, robotics, AI, augmented reality, virtual reality, 3D scanning, 3D printing, autonomous equipment, among others. These technical advancements help companies in improving their processes and transform the way of working in the manufacturing industry.
Manufacturers are increasingly leveraging the technologies such as robotics, Internet of Things (IoT), within an existing infrastructure. It is helping in achieving cost reduction, increased efficiency, improved safety, and product innovation. The Automation is aiding manufacturing industry for seamless production and this trend is expected to continue in near future.
In coming years, Industry 4.0 will be a new age of digitally enabled manufacturing where computers will control the automated production line. An important feature of industry 4.0 will be the presence of autonomous manufacturing methods powered by IoT. Most of the major players in the robotic industry are providing autonomous robots. With the advent of newer technologies smarter and efficient robots are being produced. Autonomous robots have many applications ranging from assembling the parts, packaging, painting, coating, couriers, and many more. The use of robots in manufacturing is expected to reduce the overall manufacturing cost.
Research Reviews from BCC Research provide market professionals with concise market coverage within a specific research category. These Research Reviews include portions of several market research reports that were published in 2018 and are an efficient way for market professionals to keep up with the general market developments of 2019.
This 2019 Engineering Research Review includes excerpts from the following reports:
- ENG001F Robotics: Technologies and Global Markets.
- ENG011A Industrial Furnaces: Global Markets to 2023.
- ENG012A Global Markets for Technologies in Airport Security.
- ENG017A Aircraft Fuel Systems: Global Markets to 2023.
- ENG021A Water Management Markets: A Global Outlook.
We hope you find this Research Review valuable, and we look forward to serving our customers Engineering industry market research needs.
BCC Publishing Staff
BCC publishing staff comprises expert analysts who are skilled in conducting primary research, secondary research and data analysis and have decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. Collectively, the team represents a diverse set of educational achievements with individual graduate work completed in fields such as electronics and semi-conductors, automotive, industrial automation, ICT, petroleum, electrical engineering, business administration, among others.
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