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.
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.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPACE ROBOTICS MARKET, BY SOLUTION
CHAPTER 5: SPACE ROBOTICS MARKET, BY APPLICATION
CHAPTER 6: SPACE ROBOTICS MARKET, BY END USER
CHAPTER 7: SPACE ROBOTICS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The global space robotics market is expected to experience a significant growth rate of 6.9% from 2022-2031, owing to growing demand for space exploration.In the space industry, any unmanned spaceship can be called as space robotics. However, these robots are supposed to be more efficient machines that can ease assembling, manipulation, or servicing functions in orbit or space as astronaut’s personal assistant, or to reach the untapped areas and powers of discovery on remote planets as alternatives for human explorers. The space robotics and autonomous systems are engaged in the current and future missions of space exploration. Space robotics are purpose-defined machines that are able to perform several tasks, such as servicing, satellite maintenance, and exploration. The space robots give the human ability to manage and explore in space by proposing greater handling services to astronauts. As the technology in space robotics has already been improved, most of the experiments and tasks have been assigned to robots instead of living beings; in this way space robotics sustain lives. While humans have set foot on the Moon, scientific knowledge of cases on planets including Venus, Titan, Jupiter, and Mars comes almost fully from adventure in space performed by robots. The modern type of robots in space represents a multi-fining approach in the field of space engineering and science. Thus, the application base of space robotics technology has amplified, varying from helping the crew to independently operating on a new planetary surface.
In the recent past, the German Aerospace Center (DLR) had launched CIMON, an AI assistance robot whose function is to work with astronaut in their daily tasks at ISS. Developing technologies, such as Deep Learning (DL) and Artificial Intelligence (AI) are extensively being used in the robotics industry. May of the companies are developing AI-based space robots that offer better discovery benefits and greater mobility in space. These robots can work with least human aid and execute highly complex tasks for a longer period of time. The courses in space exploration have got a lot of interest, and various regions have dominated the space robotics around the globe by revealing their capabilities for space. Moreover, the rising initiatives for space and its R&D have energized the demand for space robots in ground application. The growth in missions of space exploration could also improve the space budget and government spending. Moreover, the rising partnerships among leading companies and international space institutions to combine investment and technology are increasing the sales for space robotics for space missions.
While commercial type of projects has taken most of the headings in recent past, as the activity in the public sector have also grown drastically. For instance, in 2019, the U.S. government had formed a U.S. Space Command as a part of expanding capacities of U.S. military in space. Moreover, in 2020, NASA had declared about introducing a manned flight to the International Space Station on a commercially built rocket, creating it the first time after UK’s shuttle program revoked in the year 2011. This remarks a major milestone in the partnership between the private enterprise and government in the area of space, thus aiding the market growth of space robotics for government or commercial as end user.
The key players profiled in the study include 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. The players in the market have been actively engaged in the adoption various strategies such as contract, partnership, product launch and product development to remain competitive and gain advantage over the competitors in the market.
For instance, in 2022, Altius Space Machines has partnered with Maxar Technologies to work on a contract to design and delivery of two flight-ready robotic arms with the length of 2m each, which leads to support the servicing capabilities and in-space assembly for the U.S. Department of Defense. In 2022, Astrobotic Technology has acquired a space technology company, Masten Space Systems, with unique suborbital payload testing services, which include a legacy of more than 600 vertical landing and takeoff rocket flights. This acquisition will lead to continue their operations in U.S. This will lead to support operations of suborbital flight at Masten’s test sites at Mojave.
Key Market Insights
- By solution, the services segment was the highest revenue contributor to the market, and is estimated to reach $2,942.8 million by 2031, with a CAGR of 5.5%. However, remotely operated vehicles segment is estimated to hold a CAGR of 8.5% during the forecast period.
- By application, the near space segment dominated the global market, and is estimated to reach $4,036.1 million by 2031, with a CAGR of 5.5%. However, the ground segment is expected to be the fastest growing segment with the CAGR of 9.6% during the forecast period.
- By end user, commercial segment was the highest revenue contributor to the market, with $3,002.8 million in 2021, and is estimated to reach $5,100.9 million by 2031, with a CAGR of 5.9%.
- By region, North America was the highest revenue contributor, accounting for $2,439.9 million in 2021, and is estimated to reach $4,173.0 million by 2031, with a CAGR of 5.9%.
Companies Mentioned
- 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.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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