Space Robotics Market By Solution (Remotely Operated Vehicles, Remote Manipulator System, Software, Services), By Application (Deep Space, Near Space, Ground), By End User (Commercial, Government): Global Opportunity Analysis and Industry Forecast, 2021-2031
The report incorporates the study of the global space robotics market which represents to a field of engineering and science that helps the people and astronauts in space exploration and mission activities. It is widely used in satellite maintenance, assembling, satellite servicing and gathering constraints in exceptionally tough environment in space. It utilizes space robotics to accelerating schedules and minimize the costs which leads to incur minimal risks and improve overall performance. The space robots increase the ability of human to work in space by offering greater handling capabilities to astronauts. As a result, space robotics finds massive application in freely operating on any planetary surface.
The rising demand for on orbit assembly, increasing servicing of satellite across the globe, huge investments in the space exploration activities by several countries, and debris removal are among the major factors driving the demand for the space robotics. The pioneering deployment of space robots in near space, deep space, and ground from government and commercial sectors is expected to boost the growth rate in the forecast period. The increase in government spending on remote manipulator system as automation improves human efficiency along with increasing application of remote manipulator system in space has fueled the overall demand for space robotics. For instance, in the recent past, the state council in China had revealed the New Generation Artificial Intelligence Development Plan to develop the local AI industry to $ 150 billion by 2030.
Moreover, the rising consciousness about conservation of fossil fuel is letting to the adoption of space robotic systems as these robots use less fuel and delivers enhanced services. The fourth industrial revolution, which is also called as industry 4.0, is one of the most significant trials taking place all over the world, particularly in high-industrialized and developed regions such as North America and Europe. The digitalization, data exchange, and automation are the three of its main characteristics.
The contracts, partnerships, and joint ventures are usually the strategies used by major companies to stay competitive in the market. For example, SpaceX was given an agreement to launch two Kazakhstan satellites as a part of agreement with various other satellites using the Falcon 9 launch rocket. Moreover, the United Launch Services, LLC was developed by a joint venture between The Boeing Company and Lockheed Martin Corporation.
The top companies’ actions improve the global space robotics market share to new peaks. For instance, in 2022, NASA had nominated 12 companies for the VADR (Venture-Class Acquisition of Dedicated and Rideshare) missions. The list of companies includes Northrop Grumman Systems, Astra Space, L2 Solutions, Phantom Space, Blue Origin, ABL Space Systems, Virgin Orbit, United Launch Services, Rocket Lab USA, SpaceX, Spaceflight, and Relativity Space. These companies will be able to get task orders as firm-fixed-price to make launch services for NASA-sponsored missions. All these agreements have a five-year buying period and a maximum growing value of $ 300 million. Such partnership in the space robotics market is expected to increase the sales in the forecast period.
The global space robotics market is segmented on the basis of solution, application, end user, and region. By solution, it is divided into remotely operated vehicles, remote manipulator system, software, and services. By application, it is classified into deep space, near space, and ground. By end user, it is classified into commercial and government. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Growth drivers, restraints, and opportunities are explained in the study to better understand the market dynamics. This study further highlights key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The study features strategies adopted by key market players to maintain their foothold in the market.
Companies have adopted product development and product launch as their key development strategies in the space robotics market. The key players operating in this market are Altius Space Machines, Astrobotic Technology, Honeybee Robotics, ispace Inc., Maxar Technologies, Motiv Space Systems Inc., Northrop Grumman Corporation, Oceaneering International, Inc., Olis Robotics, and Space Applications Services.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the space robotics market analysis from 2021 to 2031 to identify the prevailing space robotics market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the space robotics market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global space robotics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Solution
Remotely Operated Vehicles
Remote Manipulator System
Software
Services
By Application
Deep Space
Near Space
Ground
By End User
Commercial
Government
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Altius Space Machines
Maxar Technologies
motiv space systems, inc.
Astrobotic Technology
Olis Robotics
space applications services nv/sa
ispace inc.
Northrop Grumman Corporation
honeybee robotics
Oceaneering International, Inc.
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