Global Space Robotics Market size is projected to be valued $7.3 Billion by 2025; with a CAGR of 16.9% from 2017 to 2025. Space robotics is a general purpose machine with a mechanical body, computer as the brain that is capable of surviving the rigors of the space environment, and performing exploration, assembly, construction, maintenance, servicing or other tasks. These robots are able to perform the new task or to carry the complex sequence of motion than other categories of automated manufacturing equipment. Applications of space robots include inspection of a defective satellite, its repair, or the construction of a space station and supply goods to this station.
Technological developments and growing demand for geostationary satellite servicing in various scientific sectors are boosting the growth of the global Space Robotics market. Moreover, rising demand for microgravity and planetary robotic process automation in different energy verticals and integration of Space Robotics with IT corporates are also expected to fuel the growth of the market. However, lack of low-cost & energy-efficient hardware which limits the adoption among space agencies may hinder the growth of the market. Furthermore, ongoing research & development and opportunities from various enterprises from emerging economies and cloud-based Space Robotics would provide growth in the upcoming years.
The global Space Robotics market is segmented based on the solution, application, end user, and geography. Solution segment can be further segmented into product and services. The product segment is further divided into robotics and subsystems, sensors and autonomous systems, software, and services segment. Application segment can be bifurcated into deep space segment, near space, and ground. Furthermore, end-user segment includes government and commercial. The government segment is further divided into space agencies, and departments of defense, among others.
The global Space Robotics market by geography is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are covered under North America wherein Europe covers U.K, Germany, France, Russia, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. RoW covers South America, Middle East, and Africa.
Major companies operating in the global Space Robotics market are Altius Space Machines, Astrobotic Technology, Olis Robotics, Effective Space Solutions, Honeybee Robotics, Ispace, Made in Space, Maxar Technologies, Metecs, Northrop Grumman and Motiv Space Systems among others.
The key takeaways from the report
Scope of Space Robotics Market
End User Segments