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Teradyne robotics group earns $375M in 2023

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Teradyne Inc. mentioned in an earnings name in the present day that its robotics group generated $375 million in income in fiscal 2023. The North Studying, Mass.-based firm owns Energid (which produces motion-planning software program), Cellular Industrial Robots (autonomous cellular robots) and Common Robots (collaborative robotic arms). The group generated $404 million in income in 2022.

Common Robots (UR) generated $304 million in income in 2023. Whereas its gross sales have been down 7% year-over-year from the report $326 million generated in 2022, the cobot maker ended the yr on a excessive word.

The fourth quarter of 2023 was UR’s largest income quarter ever. This represented 21% development from This fall 2022 and 47% development from Q3 2023, which the corporate attributed to demand for its the UR20 and UR30 cobots.

Here’s a breakdown of Common Robots’ income by quarter:

  • Q1 income = $72 million
  • Q2 income = $58 million
  • Q3 income = $71 million
  • This fall income = $103 million

Total, Teradyne’s robotics group generated $129 million in income within the fourth quarter. UR generated $311 million in income in 2021, which was up 41% on 2020 and 23% on pre-pandemic ends in 2019.

“2023 was characterised by a tough financial and enterprise atmosphere for a lot of of our core clients, with world industrial exercise slowing within the first half of the yr,” said Kim Povlsen, president of UR. “However, we noticed development in our focus accounts and key segments, together with palletizing, and in our strategically vital OEM channel. We ended the yr robust and enter 2024 with a terrific basis for additional development.”

UR30 demonstrates machine tending at iREX; UR is owned by Teradyne.

The UR30 demonstrates machine tending at iREX. Supply: Common Robots

Larger cobots yield earnings

Common Robots mentioned 30% of its income within the fourth quarter got here from the UR20 and UR30. The corporate mentioned it skilled robust demand for its UR20, particularly for palletizing and welding functions.

Unveiled in 2022, the UR20 is the corporate’s first heavy-duty cobot arm. It has a 1,750 mm (5.7 ft.) attain and 20 kg (44 lb.) payload capability. And in late 2023, UR needed to improve manufacturing of the UR20 to satisfy rising demand from its buyer base.

In November 2023, UR launched its second heavy-duty cobot arm, the UR30. Constructed on the identical structure because the UR20, the UR30 gives extra payload capability in a compact footprint.

With a 30 kg (66.13 lb.) lifting capability, 1,300 mm (51.2 in.) attain, and weight of 63.5 kg (139.9 lb.), the UR30 can have a tendency bigger machines, palletize heavy merchandise, and assist high-torque screw driving, mentioned the corporate.

“We’re already transport UR30s and have ramped up manufacturing within the fourth quarter to greater than 1,200 models to satisfy sustained demand for the UR20,” Povlsen added. “Finally, although, our success is dependent upon our energy as a platform. It will likely be our continued software program excellence and ease of use, on high of our {hardware} innovation, that creates worth for our companions and finish clients.”

In the course of the fiscal 2023 and fourth-quarter earnings name, Teradyne President and CEO Greg Smith famous that UR has a “report backlog” for the UR20 cobot. He additionally mentioned UR continues to have success rising its channel technique, including that it now has greater than 50 OEM companions and that its OEM gross sales grew practically 10%.

Teradyne mentioned its robotics portfolio has penetrated lower than 5% of its market alternative and that it expects robotics income to develop between 10-20% in 2024.

Ujjwal Kumar, president of Teradyne’s robotics group, is delivering a keynote at our Robotics Summit & Expo, which takes place Could 1-2 in Boston. The occasion is designed for robotics builders and can appeal to 5,000-plus attendees.

Over his 25-plus-year profession, Kumar has scaled companies at main multinationals together with Common Motors, Common Electrical, and Honeywell. In his keynote on Could 2 from 9:00 to 9:45 a.m. ET, Kumar will share some classes he has discovered and the way they are often utilized to speed up the transformation of business with robotics.

MiR additionally ends 2023 on excessive word

Cellular Industrial Robots (MiR) generated $71 million in income in 2023. This marks an 8% lower from the $77 million in income in 2022. Nevertheless, MiR additionally ended 2023 robust by producing $26 million in income within the fourth quarter. 

Here’s a breakdown of MiR’s 2023 income by quarter:

  • Q1 income = $17 million
  • Q2 income = $14 million
  • Q3 income = $14 million
  • This fall income = $26 million

In October 2022, Teradyne merged its autonomous cellular robotic (AMR) subsidiaries, MiR and AutoGuide Cellular Robots, right into a single firm. On the finish of September 2022, the built-in AMR provider formally turned referred to as Cellular Industrial Robots.

SITE AD for the 2024 Robotics Summit registration.Be taught from Agility Robotics, Amazon, Disney, Teradyne and lots of extra.

MiR management modifications

Søren E. Nielsen then stepped down as president of MiR originally of 2023. He had stepped into the position in August 2020, taking up the position from founder Thomas Visti Jensen. Nielsen was beforehand MiR’s chief expertise since January 2018.

On Could 1, 2023, MiR named Jean-Pierre Hathout its new president. Hathout changed interim CEO Walter Vahey, who will stay with the corporate as an advisor till his deliberate retirement in 2024.

Hathout got here from a task as president of SIT Controls USA. Previous to this, he constructed a 17-year profession at Bosch, together with a number of worldwide administration roles. Hathout has a doctoral diploma in mechanical engineering from MIT, and he has technological experience and world management abilities, together with administration of operations within the U.S., Germany, the Netherlands, Turkey and China.

MiR celebrated its 10-year anniversary in 2023. It additionally launched its MiR Insights cloud software program that gives fleet homeowners with actionable insights to enhance efficiency. MiR additionally acquired certifications for 13 security capabilities on its MiR600 and MiR1350 AMRs in accordance with the ISO 13849-1 business commonplace.

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