Space Robotics Market Research Report - Global Forecast till 2030

Space Robotics Market Research Report: By Solution (Products, Services) and By End-User (Government, Commercial) Forecast to 2030

ID: MRFR/A&D/7083-HCR | September 2022 | Region: Global | 173 Pages         

Space Robotics Market

Space Robotics Market Size Valued at USD 465 Billion, market Grow at a CAGR Of 8.98% by 2020 -2030

Segmentation

By Solution Products Services
By End-User Government Commercial

Key Players

  • 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)

Drivers

  • Growing Demand for In-Orbit Satellite Servicing
  • Increasing Number of Space Exploration Missions by Private Firms
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Space Robotics Market Overview


Space Robotics Market Size Valued at USD 465 Billion, market Grow at a CAGR Of 8.98% by 2020 -2030

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.


Market Synopsis


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.


Market USP


The use of robots in space applications reduces risk to human lives.


Market Drivers



  • Growing Demand for In-Orbit Satellite Servicing: It requires a high budget, human resource and time for developing satellites. Hence, if any breakdown occurs in satellite while orbiting the planet it generates heavy loss and also creates lots of space debris. Thus, space robots are increasingly being used for the servicing of satellites in-orbit as failure of these satellites or loss of contact with the control center resulting in the satellite becoming space debris.



  • Increasing Number of Space Exploration Missions by Private Firms


Market Restraints



  • Failures in Space Robots

  • Stringent Regulations


Segmentation


By Solution



  • Products: The segment includes spacecraft landers, space probes, gripping and docking systems, robotic arms or manipulator systems, robotic servicing vehicles, and space debris removal The increasing investments in the development of such products are expected to drive the growth of this segment.



  • Services: Services include on-orbit assembly and manufacturing, satellite servicing, space debris removal, refueling, surface mobility, and launch support. The demand for these services is expected to increase significantly during the review period.


By End-User



  • Government: The segment dominated the global space robotics Industry in 2018 due to the increasing adoption of robots for space exploration activities by government agencies.



  • Commercial: The segment is expected to register a higher growth rate during the forecast period owing to an increase in the number of space exploration activities by private firms.


By Region



  • North America: North America dominated the space robotics market in 2018 and is projected to remain the largest regional market during the forecast period due to the high investments by NASA in the research and developments of space robotics.



  • Europe: Europe is expected to be the second-largest regional market. This can be attributed to the increase in space exploration activities in Russia, the UK, Germany, and France.



  • Asia-Pacific: The market in Asia-Pacific is projected to be the fastest-growing during the forecast period due to high investments in space robotics in countries such as China and India. Moreover, space agencies and private firms in these countries operate several communications, earth observation, and navigational satellites, which is expected to drive market growth in the region.



  • Rest of the World: The market in the rest of the world includes the Middle East & Africa and Latin America. The market in the rest of the world is expected to showcase steady growth due to the increasing demand for communications satellites in Brazil, the UAE, and Saudi Arabia.


Recent Development

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.


Key Players



  • 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)



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Frequently Asked Questions (FAQ) :

Space Robotics Market Size Valued at USD 465 Billion, market Grow at a CAGR Of 8.98% by 2020 -2030

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.