The demand for space robots is increasing as the requirement for efficient repair, servicing, and maintenance of geostationary satellites grows. The primary aspects driving demand for space robotics technology are cost effectiveness, increased productivity, and the ability to operate in severe space environments. Additionally, the effective execution of future space programs, such as on-orbit manufacturing and assembly aboard the International Space Station, as well as NASA's lunar surface innovation initiative, require sophisticated robotics systems.
Space Robotics Market is predicted to increase as a result of factors such as technical advancements, the growing usage of autonomous systems in space, and an increasing number of space programs. In the robotics business, emerging technologies like as Artificial Intelligence (AI) and Deep Learning (DL) are frequently utilised. Numerous businesses are developing AI-based robots with better exploration capabilities and space mobility.
The Global Space Robotics Market has witnessed high growth in recent years owing to rising demand for on-orbit satellite servicing and an increasing number of space exploration missions by private firms. Moreover, the widespread use of satellites for day-to-day communications, national defense, agricultural monitoring, and weather monitoring is driving the growth of the market. However, issues with the mobility and manipulation of space robots are expected to hinder market growth to some extent.
The use of robots in space applications reduces risk to human lives.
March 2022: MDA Ltd., a leading provider of advanced technology and services to the rapidly growing global space industry, unveiled details of its new purpose-built global headquarters and Space Robotics Center of Excellence in Brampton, Ontario, a facility that will support the company's continued growth and lay the groundwork for long-term success in the evolving commercial space robotics market. The new 200,000-square-foot facility will house cutting-edge laboratories, manufacturing, research and development, as well as assembly, integration, and test capabilities. MDA is making a $100 million investment in the project.
March 2022: Motiv Space Systems partnered with Blue Origin to assist the Department of Defense in developing a robotic system capable of repairing, updating, or modifying deployed satellites. The team will submit the ModuLink system, which consists of interfaces, sensors, and a pair of robotic arms, to a Defense Innovation Unit prototype program. ModuLink is built on the company's xLink robotic manipulation technology and is designed to assist in satellite refueling, component repairs, payload module delivery, spacecraft repositioning, and in-space spacecraft assembly.
Altius Space Machines (US),Astrobotic Technology (US),Effective Space Solutions Ltd (UK),Honeybee Robotics (UK),Ispace (Japan),Maxar Technologies (US),Metecs (US),Motiv Space Systems, Inc. (US),Northrop Grumman Corporation (US),Olis Robotics (US)
The key growth inducers in the global market include the mounting demand for on-orbit satellite servicing along with the surge in space exploration missions conducted by private vendors. The growing use of satellites for national defense, agricultural monitoring, weather monitoring and day-to-day communications, also add to the market attractiveness across the globe.
Government is the end-use segment is leading the global Space Robotics Market.
APAC is estimated to move ahead at the fastest rate during the review period.