Space Robotics Market Industry Analysis by 2030 | Increasing use of robotic vehicles for space-related projects
Space Robotics Market Size – USD 4.32 Billion in 2021, Market Growth – at a CAGR of 4.7%
VANCOUER, BC, CANADA, August 5, 2022 /EINPresswire.com/ — The global space robotics market size reached USD 4.32 Billion in 2021 and is expected to register a revenue CAGR of 4.7% during the forecast period, according to latest analysis by Emergen Research. Increasing incorporation of Internet of Things (IoT)-enabled smart robotic systems is a key factor driving market revenue growth. The demand for space robots is increasing due to the requirement for effective geostationary satellite repair, servicing, and maintenance. The main reasons influencing demand for space robotics technology are cost-effectiveness, increased productivity, and capability to function in the harsh environment of space. Furthermore, highly developed robotics systems are necessary for the realisation of future space initiatives like the National Aeronautics and Space Administration’s (NASA) lunar surface innovation effort and on-orbit manufacturing and assembly in the International Space Station (ISS).
Emergen Research latest document, titled ‘Global Space Robotics Market – Forecast to 2030,’ is one of the most sought-after market reports involving an in-depth analysis of the global Space Robotics Market. The report’s authors have offered necessary details on the latest Space Robotics Market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Space Robotics Market entails useful insights into the estimated Space Robotics Market size, revenue share, and sales & distribution network such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future.
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Oceaneering International, Inc., Northrop Grumman, Motiv Space System, Inc., Metecs, LLC, Maxar Technologies, Intuitive Machines, LLC, Astrobotic Technology, Inc., Altius Space Machines, Motiv Space Systems, Inc., Ispace, Inc., Olis Robotics, and Stinger Ghaffarian Technologies, Inc.
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The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Space Robotics Market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline.
Robotics and autonomous systems are essential to the ongoing and next missions of space exploration. Robots designed specifically for space missions can carry out a variety of jobs, including satellite service and maintenance, satellite repair, and exploration. By giving astronauts better handling capabilities, the robots increase human capacity to operate and explore in space. The multi-disciplinary approach used in engineering and space science is represented by modern space robots. As a result, a wider range of uses for space robotics technology now exist, from helping the crew to independently operating on a new planet’s surface.
World’s Leading Companies in Space Robotics Industry : Top 10 by Revenue
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What are the key factors driving Space Robotics Market expansion?
What will be the value of Space Robotics Market during 2022- 2030?
Which region will make notable contributions towards global Space Robotics Market revenue?
What are the key players leveraging Space Robotics Market growth?
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According to the solution, the space robotics market is anticipated to be led in 2018 by the satellite servicing segment. The need for space-based services such as satellite servicing, de-orbiting, surface mobility, and resupply services is on the rise, and this is what is driving the expansion of the satellite servicing market.
The near space application of the space robotics market is anticipated to experience the greatest CAGR growth over the course of the forecast period. The necessity for resupply flights for the International Space Station (ISS), on-orbit satellite production, and the growing requirement to maintain the current geosynchronous satellites are all factors contributing to the growth of the near space market.
Market in North America accounted for largest revenue share in 2021. Presence of major market companies such as Northrop Grumman, Redwire Corporation, and others play a key role in driving market revenue growth in this region. These companies are investing significantly in the construction of new manufacturing facilities and developing innovative robotic systems that precisely fulfill end-user requirements. On 13 September 2021 for instance, Northrop Grumman, which is a leading aerospace, defense, and security company headquartered in Virginia, U.S., announced that its wholly-owned subsidiary – Space Logistics – is preparing to launch a new servicing vehicle equipped with a robotic arm for satellites maintenance.
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Autonomous Sensors and Systems
Robotics and Subsystems
Software
Others
Services
Satellite Servicing
On-orbit Assembly
Surface Mobility
De-orbiting Services
Others
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Near Space
Space Operations
Space Exploration
Space Transportation
In Space 3D Printing
Others
Deep Space
Space Transportation
Space Exploration
Ground
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Government
Defense Department
Space Agencies
Others
Commercial
Private Satellite Operators
Launch Service Providers
Others
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North America(U.S., Canada)
Europe(U.K., Italy, Germany, France, Rest of EU)
Asia Pacific(India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America(Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Chapter 1 includes an introduction of the global Space Robotics Market , along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
Chapters 5 and 6 have laid emphasis on the market segmentation based on product type and application
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.With market-leading insights and an in-depth understanding of leading and niche technologies, our solutions address the most pertinent questions for your business needs. A major technological shift has been witnessed towards creating a ‘Circular Economy,’ fuelled by factors, such as the increased adoption of bio-based materials, along with other methods for achieving carbon neutrality. We are conversant in technologies, viz., Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), Robotic Process Automation (RPA), Smart Manufacturing, Internet of Things (IoT), Big Data Analytics, Machine learning, Nanotechnology, Edge Computing, Blockchain Technology, Cloud Computing, Vehicle Electrification, Advanced Maintenance Analytics, and Predictive Maintenance, among other prevalent and emergent technologies.
Eric Lee
Emergen Research
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