What if I told you the age of abundance is near and will be brought to you, among other factors, by rapid development in manufacturing and industry 4.0? And what role does Sarcos Robotics play in the development?
The robotics sector is projected to grow at an impressive 51% compound annual growth rate til the end of the decade. From the current capitalization of $168B all the way to $10T.
That becomes possible with the simultaneous development of both AI and battery technology. Harnessing the power of advanced intelligence and command processing, more companies will adopt robotics. This is going to streamline production and lower the cost of operations. Robots are becoming increasingly inexpensive and have many advantages over humans. The most powerful combination is, however, to combine the best of both worlds.
Intertwine human intelligence, instinct, and judgment with the power, endurance, and precision of machines, as supported by Palantir.
Sarcos Technology and Robotics Corporation (NASDAQ: STRC) is a leader in industrial robotic systems that augment human performance. Their systems are known for symbiotic relationships between humans and machines, combining the strengths of both.
Humans have unparalleled intelligence, instinct, and judgment, however, lack the precision, endurance and strength. That can be supplied thanks to machines. The result is employee safety and enhanced productivity. Their machines enable remote operations and reduce operational costs exponentially.
Sarcos’ mobile robotic systems, including the Guardian® S, Guardian® GT, Guardian® XO®, Guardian® XT™ and the Sapien family of robotic arms, along with Sarcos’ Detect computer vision software and Intellect autonomy software. Those are designed to revolutionize the future of work wherever physically demanding work is done.
Sarcos is headquartered in Salt Lake City, Utah, and has a second location in Pittsburgh, PA. Sarcos shares trade on Nasdaq under the ticker symbol STRC and are included in the Russell 2000® index.
History Of Sarcos Robotics
Founded in 1983, Sarcos Robotics’ predecessor was spun out of the University of Utah.
It was acquired by Raytheon in 2007, however, it was spun out again in 2014 in a management buy-out transaction.
Since then, the primary focus has been to commercialize dexterous robots and full-body powered robotic exoskeletons. Too complex or unstructured task unsuitable for traditional automation is the core of Sarcos’ offering.
Unlike most other robotics players, Sarcos Robotics does not offer robots that perform repetitive, highly structured tasks.
Instead, the company provides robotic solutions for unstructured tasks
and more challenging environments.
Sarcos Robotics pioneered the Robot-as-a-Service (RaaS) model. as their go-to-market model.
The company has priced the Guardian XO exoskeleton to be equivalent to the annual cost of a $25 per hour full-time employee. Which comes at 100,000 to $150,000 including typical G&A, overhead and benefits in the US.
As part of the RaaS offering, Sarcos services maintains and upgrades the Guardian XO exoskeleton as necessary.
Sarcos has discovered that customers prefer the RaaS model because it eliminates high upfront costs. It also eliminates technology risks, which can be a concern with new, category-creating products like the Guardian XO exoskeleton.
With the speed of emerging new technologies, customers are much more comfortable with the RaaS model because they don’t feel pressure to undertake maintenance as their responsibility. The RaaS model can be structured to give the customer flexibility. It is possible to account for the expense as either an operational expenditure (OpEx) or capital expense (CapEx).
The Guardian XO is the world’s first battery-powered industrial full-body exoskeleton. It allows humans to use their intelligence, instinct, and judgment to manipulate their surroundings with the power, endurance, and precision of machines.
Guardian XO transforms the way work gets done. The industrial exoskeleton augments operator strength without restricting freedom of movement to boost productivity while dramatically reducing injuries.
The exoskeleton by Sarcos Robotics is used to become more productive in areas of manufacturing/assembly, construction, field service, and warehouse/logistics. The Guardian XO enables a single person to deliver the productivity of many. It addresses the 15 kg to 90 kg “lift gap” across a wide range of industrial processes. That is achieved by amplifying operator strength by a factor of up to 20x.
The Guardian XT is a highly dexterous mobile robot that combines robotic strength and precision with human judgment and ingenuity via teleoperation for unparalleled productivity and safety in dangerous, hard-to-reach, complex, and unstructured industrial environments.
Its versatile design enables mounting to various mobile and lift platforms and allows operators to control their trade tools remotely while working at height or ground level. It is suitable for indoor and outdoor use, offering wide range of environments to operate in, ranging from heavy duty construction to manufacture.
Use cases include infrastructure and maintenance, oil and gas, forest and property management, utilities, heavy manufacturing, distribution, logistics and maritime.
Premier surveillance and inspection tool, the Guardian S robot is capable, cost-effective and easily portable, weighing approximately 8 kg. Able to traverse challenging terrain and facilitate two-way, real-time video, voice and data communication from a safe distance, it offers supreme assistance throughout inspections, safety applications and data collection.
The robot is easily deployed in less than 2 minutes and can travel up to 3 miles on one charge. The cameras offer 360 degrees of coverage all while being both water and magnet-resistant.
Constant connection to the cloud allows for storage and security of all the data. It is built for complex missions that require situational awareness and hazard detection.
The Sapien 6M intelligent manipulator offers speed, dexterity, precision, and strength in a compact, lightweight package.
The arm offers six degrees of freedom, an optimized strength-to-weight ratio, embedded intelligence, and a sleek hardware design that can withstand extreme temperatures and environmental conditions.
The Sapien robotic arm is used for a variety of complex applications, both outdoor and indoor. It is compatible with Sarcos autonomy platforms, enabling autonomous mobile manipulation in structured environments, such as in a factory with controlled lighting, and in unstructured environments like outdoor construction sites.
When human-in-the-loop control is required, the Sapien robotic arm can be integrated with the Imitative Controller and combined with other offerings by Sarcos Robotics
GT is an award-winning, force-multiplying robotic system with one or two highly dexterous arms mounted on a track or wheeled base, enabling a single operator to do more, safely.
From basic labor-saving tasks like heavy lifting to intricate processes like welding and joining, the human-controlled industrial robot provides an unparalleled combination of dexterity and strength for the operator.
Dual armed system allows for a payload of up to 450kg. The robot is robust and easy to operate, reacting as natural extension of one’s arms.
Unparalleled Research And Development By Sarcos Robotics
Sarcos Robotics has been recognized as the Dexterous Robots & Exoskeletons Company Of The Year Award by Frost and Sullivan which requires a company to demonstrate excellence in growth, innovation, and leadership.
On the other hand as seen from the chart that marks their outperformance, it is important to note the lack of competition in the area of highly dexterous, non-repetitive robot and exoskeleton industry.
Sarcos was rated 9.5/10 in visionary and innovative performance and 9/10 in customer impact.
Full-body, autonomously-powered robotic exoskeletons have immense potential to transform the industrial workforce and deliver on the promise of the workforce of the future. From improving worker strength, efficiency, and safety to reducing occupational injuries caused by repetitive heavy lifting, the Guardian XO exoskeleton is poised to be a game-changer for a wide variety of industries.
In a market that has been dominated by traditional market players who offer less functional and efficient tools, Sarcos has been revolutionary in creating a product that is more energy-efficient, more functional, and offered at an optimal price.
Q2 2022 Results Of Sarcos Robotics
Sarcos Technology and Robotics Corporation (“Sarcos”) (NASDAQ: STRC) will webcast a live audio feed of its second quarter 2022 financial results conference call with financial analysts on Tuesday, August 9, 2022, at 5.00 p.m. ET.