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Space Robotics Market Share Worldwide Industry Growth, Size, Statistics, Opportunities & Forecasts up to 2025

Author : Ronak Bora | Published Date : 2020-08-21 

The North America space robotics market is currently a highly profitable growth ground owing to the presence of substantially funded organizations like NASA and the Canadian Space Agency. The region is also witnessing several ongoing and upcoming space missions that are anticipated to generate considerable demand for space robots, further strengthening the region’s space robotics industry size.

The Asia Pacific market is also likely to emerge as a strong contender due to increasing implementation of major space projects. For example, the Indian Space Research Organization’s second moon mission Chandrayaan 2 is the nation’s first attempt at robotic space explorations. Increasing adoption of space robotics engineering for upcoming space programs and explorations would primarily contribute to expanding Asia Pacific space robotics market size.

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Space Robotics Market is expected to exceed USD 3.5 billion by 2025. Increasing government investments and projects related to space research and exploration in several countries is driving the industry demand. The launch of several satellites and spaceships working in deep and near spaces require timely maintenance and repairing, creating the need for highly efficient robotic systems. National organizations such as NASA, CSA, JAXA, etc., are introducing humanoid robots to perform the maintenance, servicing, and transportation operations to gain high efficiency, further developing the market. The rising trends of autonomous features and AI technology in robotic products will drive rapid industry expansion.

In the space robotics market, products including rovers, probes, and arms are increasingly used in both deep and near space-related projects. Robotic arms are capable of cleaning litter and debris produces in space due to lost equipment and old satellites orbiting around the planet. The increasing need to clean the debris, which is a threat to existing satellites, spaceships, and astronauts is increasing the demand for probes and arms. Governmental organizations are developing efficient robotic arms for various projects, which will aid in performing maintenance & research related tasks to astronauts. For instance, in March 2019, Canada announced an investment of USD 1.4 billion in NASA's Lunar Gateway Program and offered a robot arm that will aid the continuous functioning of the lunar-orbiting base.

Government applications in the space robotics market are rapidly developing due to several R&D activities and satellite launches for defense & security purposes in countries including the U.S., China, Israel, etc., contributing to industry growth. Moreover, the growing awareness related to space exploration and satellite launch programs that will aid defense & military activities is creating the demand for robotic technology. In the UK, the government is offering huge funding for R&D and demonstrating projects under its Innovate UK programs, such as the FAIR-SPACE hub and other projects, creating growth prospects the market.

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Key companies in the space robotics market are SpaceX, Northrop Grumman, Honeybee Robotics, Maxar Technologies, Orbital ATK, Altius Space Machines, Motiv Space Systems, etc. Companies are investing highly in R&D capabilities to develop efficient & technically advanced robot technologies applicable in exploration & servicing operations. These players are witnessing several partnerships and contracts with government agencies for technical advancements in the space robotics market. For instance, in December 2018, MDA announced that the company has signed four contracts with Canada under its Defence Innovation Research Program.

Table of Contents (ToC) of the report:

Chapter 4. Space Robotics Market, By Solution

4.1. Key trends by solution

4.2. Product

4.2.1. Market estimates and forecast, 2015 – 2025

4.2.2. Rovers/landers

4.2.2.1. Market estimates and forecast, 2015 – 2025

4.2.3. Probes

4.2.3.1. Market estimates and forecast, 2015 – 2025

4.2.4. Arms/manipulator systems

4.2.4.1. Market estimates and forecast, 2015 – 2025

4.2.5. Others

4.2.5.1. Market estimates and forecast, 2015 – 2025

4.3. Software

4.3.1. Market estimates and forecast, 2015 – 2025

4.4. Services

4.4.1. Market estimates and forecast, 2015 – 2025

Chapter 5. Space Robotics Market, By Application

5.1. Key trends by application

5.2. Deep space

5.2.1. Market estimates and forecast, 2015 – 2025

5.2.2. Space exploration

5.2.2.1. Market estimates and forecast, 2015 – 2025

5.2.3. Space transportation

5.2.3.1. Market estimates and forecast, 2015 – 2025

5.3. Near space

5.3.1. Market estimates and forecast, 2015 – 2025

5.3.2. Space exploration

5.3.2.1. Market estimates and forecast, 2015 – 2025

5.3.3. Space transportation

5.3.3.1. Market estimates and forecast, 2015 – 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/space-robotics-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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