Automation is the future and need of manufacturing industry. Ever increasing cost of skilled workforce, increased demand from consumers, need for highly repetitive manufacturing accuracy and most importantly the increasingly competitive market conditions has made manufacturing industry to shift from conventional approach of manpower-based manufacturing activity to use of automated manufacturing systems and machines. A major area which conventionally make use of a large number of manpower is transfer of components from one place to another, positioning of components at desired location accurately in proper orientation and in proper sequence for various manual, automatic or semi-automatic processes. This is especially true when it comes to handling of heavy components which are extremely difficult to manipulate due to their weight and/or size.