Robotics Stocks: 7 Biggest Companies in Q1 2022

Robotics Stocks: 7 Biggest Companies in Q1 2022

What are the top robotics stocks? Here’s an overview of seven companies in the space that tech investors may want to consider.

It’s no surprise that the top robotics stocks are gaining attention.

According to Allied Market Research, the global robotics market was valued at US$12.15 billion in 2020. The industry could reach US$149.86 billion by 2030 on rising demand for industrial robots and surveillance robots.

The automotive industry is also another big source of demand for robotics. For example, in April 2020, BMW (OTC Pink:BAMXF,ETR:BMW) signed an agreement with KUKA (OTC Pink:KUKAF,ETR:KU2) to buy around 5,000 robots for the carmaker’s new production lines and factories around the world.

Automakers such as Hyundai (KRX:005380) are also showing signs of merging into the robotic industry. In mid-2021, the South Korean company acquired a controlling stake in robotics firm Boston Dynamics for US$1.1 billion.

The medical and service robot segments are also contributing to the overall growth in this sector. Surgical robots are increasingly being used in a variety of surgery types, from cardiac to spinal, allowing for better patient outcomes. The service robotics market is expected to reach US$34.7 billion by 2022.

Which top robotics stocks to consider?

The Investing News Network is providing an overview of the seven top robotics stocks that trade on the NYSE and NASDAQ exchanges. With the global robotics industry primed for massive growth in the coming years, the time is ripe for investors to jump into this space.

The top robotics stocks by market cap below were compiled using TradingView’s stock screener. All market caps and share prices were current as of February 3, 2022.

1. Intuitive Surgical

Share price: US$285.60; market cap: US$102.03 billion

First on this list of top robotics stocks is a leader in surgical robotics, Intuitive Surgical (NASDAQ:ISRG). It made the first minimally invasive surgical system to receive clearance from the US Food and Drug Administration.

Intuitive Surgical provides robotics-assisted platforms, including the da Vinci system, to doctors and hospitals. This system is used by surgeons across 50 US states and 66 countries around the world. The company’s fourth quarter 2021 revenue totaled US$1.55 billion, an increase of 17 percent compared to the same quarter in 2020.

2. ABB

Share price: US$34.29; market cap: US$70.59 billion

ABB (NYSE:ABB) is a power and automation technology company with a robotics and discrete automation division that offers machine and factory automation solutions, as well as wide-ranging robotics solutions and applications.

The company’s new robotics manufacturing and research facility in China is expected to open in the second quarter of 2022. China represents the world’s largest robotics market.

3. Rockwell Automation

Share price: US$284.72; market cap: US$33.08 billion

Rockwell Automation (NYSE:ROK)provides industrial automation power, control and information solutions through two segments: architecture and software, and control products and solutions. The former involves various hardware, software and communication components of the company’s integrated control and information architecture, while the latter offers products that perform control disciplines and application monitoring.

4. Teradyne

Share price: US$111.86; market cap: US$18.23 billion

Next on this top robotics stocks list is Teradyne (NASDAQ:TER).

This leading provider of automated test equipment has made a move into the robotics market with several strategic acquisitions, including Universal Robots, Energid Technologies and MiR. Teradyne’s industrial automation group generated US$376 million in revenue in 2021, up 34 percent from US$280 million in 2020.

5. Textron Systems

Share price: US$68.11; market cap: US$15.01 billion

Textron Systems (NYSE:TXT) is a global leader in unmanned air, surface and land products, plus services and support for the aerospace and defense industries.

Among other pursuits, Textron is currently working with Howe & Howe Technologies to develop an advanced small ground robotic vehicle; it has a high-torque, hybrid diesel-electric drive, along with tracks designed to operate in tough terrain and complex and confined locations.

6. Cognex

Share price: US$64.47; market cap: US$11.4 billion

Top robotics stock Cognex (NASDAQ:CGNX) is an industrial automation play that provides machine-vision products that obtain and analyze visual information in order to automate tasks where vision is needed. Cognex also operates through machine-vision technologies, which are used to automate the manufacturing and tracking of discrete items, including mobile phones, medications and automobile tires.

In mid-2021, Cognex partnered with Cobot Nation, an industrial automation company, to combine Cognex’s machine-vision technology with Cobot’s collaborative robots.

“We are thrilled to be partnering with Cognex, bringing their expert machine vision technology to our cobots and furthering the capabilities and functionality of our services. Cognex vision systems are of the highest quality, and we are excited to offer them as an integral part of our fleet system. We have the arms and the best partner with the eyes,” said Gil Mayron, founder and CEO of Cobot Nation.

7.  AeroVironment

Share price: US$56.24; market cap: US$1.4 billion

AeroVironment (NASDAQ:AVAV)is a technology solutions provider with an advanced portfolio of unmanned aircraft systems. The US Department of Defense and allied military services are active consumers of the company’s battery-powered, hand-launched unmanned aircraft systems.

The company recently announced that it received a US$4,151,320 Department of Defense foreign military sales contract award to provide small unmanned aircraft systems to an allied nation.

Source Link