Robotic Process Automation in Aerospace

Robotic Process Automation in Aerospace

Robotic Process Automation (RPA) is a technology that manages routine, rule-based tasks using smart bots. Robotic Process Automation (RPA) in the Aerospace industry is an obvious path toward greater business opportunities and optimization for the industry. RPA in aerospace brings speed, compliance lowered costs, and also quality. RPA helps aviation organizations execute countless daily tasks and checklists, requiring consistency and the highest accuracy. Automation in aerospace manufacturing has led to an increase in efficiency, reduced errors and risk, better profitability, and ensured proper compliance. It also helps in managing various aspects of the aerospace manufacturing process such as supply chain management, inventory management, and others, along with conducting internal audits. Thus such factors lead to a rise in demand for RPA in aerospace and are expected to boost the growth of the market globally.

The Robotic Process Automation in the Aerospace market is expected to grow at a skyrocket CAGR of ~24% during the forecast period (2023-2030) with increasing demand for automation in aerospace, rapid advancements in robotics to improve scalability coupled with the increase in adoption of RPA in revenue distribution management. Major companies in the market are collaborating, and merging with each other to increase productivity, reduce errors, and redeploy resources to higher-value functions. For instance, in August 2020, AirAsia accelerated its digital transformation with robotic process automation in partnership in collaboration with Silicon Valley and India-based enterprise automation platform JIFFY.ai.

• On the basis of process, global RPA in aerospace market is segmented into automated solution, decision support & management solution, and others. The automated solution segment is expected to account for a larger revenue share during the forecast period. Automated solution segment is sub-segmented as crew scheduling, revenue management, and internal audit. The recent advancements in artificial intelligence have enabled developers to develop robotics software that is easy to configure and can facilitate the automation of tedious manual tasks. Moreover, automation is widely used to automate the manufacturing of aircraft without manual intervention. This will increase demand for automated solutions among companies in the aerospace industry and drive the growth of the segment.
• Based on component, the RPA in aerospace market is bifurcated into software and services. Amongst these segments, the Services segment is expected to expand at a rapid CAGR in the market over the forecast period. This is mainly due to the rising demand for RPA services along with the rising implementation of RPA solutions for aerospace processes. The rise in demand for consulting and advisory services will further increase the demand for RPA in aerospace market. Moreover, the rapid advancements in technologies integrated with RPA to automate management processes along with better customization in order to meet user needs which in turn will increase the market for robotic process automation in the aerospace market.
• Based on deployment, the market is segmented into on-premise and on-cloud. Among these, the On-premise segment is expected to have a considerable CAGR in 2022. Due to the need for greater efficiency and accuracy in manufacturing processes. On-premise RPA solutions allow organizations to deploy and manage their own software robots, giving them greater control over the automation process and allowing them to customize the technology to meet their specific needs. This is particularly important in the aerospace industry, where there are strict regulations and quality standards that must be met. On-premise RPA solutions can help organizations to comply with these standards while also improving their bottom line.
• For a better understanding of the market adoption of robotic process automation in aerospace, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Rest of World. North America is expected to grow with a considerable CAGR during the forecast period. This is mainly owing to the increasing demand for automation in the aerospace industry, as organizations look to improve efficiency and reduce costs. Robotic process automation (RPA) is a technology that automates repetitive and rule-based tasks, such as data entry and processing, using software robots. In the aerospace industry, where precision and accuracy are critical, RPA can help to reduce errors and improve productivity, ultimately leading to cost savings and increased competitiveness. Moreover, the availability of skilled labor is further expected to drive the growth of the market. The aerospace industry is facing a shortage of skilled workers, particularly in areas such as engineering and manufacturing. RPA can help to fill this gap by automating routine tasks, freeing up skilled workers to focus on more complex and high-value activities.
• Some of the major players operating in the market include Integrātz, LLC.; Robocloud; Automation Anywhere Inc.; Uipath; Pegasystems Inc.; Blue Prism Limited; Kofax Inc.; NVIDIA Corporation; Celaton; and AirAsia Group Berhad