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What’s Driving the Space Robotics Market Trends? | Top Key Players are Northrop Grumman, Oceaneering, SpaceX, Honeybee Robotics, MAXAR Technologies, Astrobotic

06-28-2019 07:04 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Space Robotics Market

Space Robotics Market

Space Robotics Market trends is driven by increasing government investments and projects related to space research and exploration in several countries. The launch of several satellites and spaceships working in deep and near spaces require timely maintenance and repairing, creating the need for highly efficient robotic systems. National organizations such as NASA, CSA, JAXA, etc., are introducing humanoid robots to perform the maintenance, servicing, and transportation operations to gain high efficiency, further developing the space robotics market. The rising trends of autonomous features and AI technology in robotic products will drive rapid industry expansion.

Asia Pacific Space Robotics Market is expected to grow over the forecast time span owing to many space exploration & research projects in countries including China, Japan, and India, majorly driving the industry growth. For instance, in January 2019, the Indian Space Research Organization (ISRO) announced that the country?s first unmanned space mission will include a humanoid robot, which is in the development stage and has multilingual features. China is also involved with several projects for space & moon exploration, which will add up to industry development prospects.

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Rising enterprise and government spending towards development of space exploration technologies has propelled the space robotics market revenues, as efforts are being made to bring more efficiency into activities like equipment maintenance, satellite assembly and extraterrestrial surveys. Essentially, performing physical tasks in the orbit not only present risks for astronauts, but also require high levels of precision and control. Robotic arms or manipulator systems can provide the necessary accuracy and automation to safely repair and maintain spatial objects. Continuous improvement of automated systems and the ability of robots to significantly increase productivity will fuel the space robotics industry expansion.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Altius Space Machines, Inc.
2. Astrobotic
3. GITAI
4. Honeybee Robotics
5. MAXAR Technologies
6. Motiv Space Systems, Inc.
7. Northrop Grumman
8. Oceaneering
9. Space Applications Services NV/SA
10. SpaceX
11. Stinger Ghaffarian Technologies (SGT)

Chapter 3. Space Robotics Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2025

3.3. Industry ecosystem analysis

3.3.1. Suppliers

3.3.2. Manufacturers

3.3.3. Software & technology providers

3.3.4. Service providers

3.3.5. Distribution channel analysis

3.3.6. End-use landscape

3.3.7. Vendor matrix

3.4. Technology & innovation landscape

3.5. Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.6. Industry impact forces

3.6.1. Growth drivers

3.6.1.1. Government investments and projects related to space robotics in North America & Europe

3.6.1.2. Increasing focus on space exploration missions in Asia Pacific

3.6.1.3. Adoption of several research & technology development projects in Europe

3.6.1.4. Development of advanced space systems in Israel

3.6.2. Industry pitfalls & challenges

3.6.2.1. High investments for manufacturing & developing robotic systems

3.6.2.2. Technical issues in extreme environmental conditions

3.7. Growth potential analysis

3.8. Porter's analysis

3.8.1. Supplier power

3.8.2. Buyer power

3.8.3. Threat of new entrants

3.8.4. Threat of substitutes

3.8.5. Internal rivalry

3.9. Competitive landscape, 2018

3.9.1. Company market share analysis

3.9.2. Strategy dashboard (New product development, M&A, R&D, Investment landscape)

3.10. PESTEL analysis

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Over the past few years, thousands of satellites have been launched into earth’s orbit, while aerospace companies have attempted to realize commercial space flights and make them affordable. All the while, governments are funding projects to explore interplanetary surfaces, the most notable being Mars exploration. The space robotics market can be pegged as a vital component of these projects, since equipment like rovers and probes are valuable in investigating surfaces and collecting samples using robot arms. Activities like placing a satellite into orbit, collecting and providing information on space aircraft functions and assisting flight crew in handling spatial objects can be done cost-effectively and without delays by using robotic equipment.

Apparently, the space robotics market is poised to witness considerable growth in the imminent future owing to increased venture capital funding into space application-oriented start-ups, along with huge investment by technology giants into developing their own equipment, software and services. Reports indicate that in 2018, nearly USD 2.97 billion equity capital had been invested in space companies worldwide. One can certainly expect a large number of viable space technologies to be unveiled and commercialized over the coming years, further creating opportunities for the space robotics industry.

In the space robotics market, products including rovers, probes, and arms are increasingly used in both deep and near space-related projects. Robotic arms are capable of cleaning litter and debris produces in space due to lost equipment and old satellites orbiting around the planet. The increasing need to clean the debris, which is a threat to existing satellites, spaceships, and astronauts is increasing the demand for probes and arms. Governmental organizations are developing efficient robotic arms for various projects, which will aid in performing maintenance & research related tasks to astronauts. For instance, in March 2019, Canada announced an investment of USD 1.4 billion in NASA Lunar Gateway Program and offered a robot arm that will aid the continuous functioning of the lunar-orbiting base.

Browse key industry insights spread across 150 pages with 161 market data tables & 18 figures & charts from the report, “Space Robotics Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/space-robotics-market

Government applications in the space robotics market are rapidly developing due to several R&D activities and satellite launches for defense & security purposes in countries including the U.S., China, Israel, etc., contributing to industry growth. Moreover, the growing awareness related to space exploration and satellite launch programs that will aid defense & military activities is creating the demand for robotic technology. In the UK, the government is offering huge funding for R&D and demonstrating projects under its Innovate UK programs, such as the FAIR-SPACE hub and other projects, creating growth prospects the space robotics industry.

A brief overview of the competitive spectrum of the space robotics market:

Motiv Space Systems, California-based Motive Space Systems, a provider of aeronautics solutions, was selected by NASA to develop the robotic arms for spacecraft to be used in the upcoming Mars 2020 mission, under a multi-million dollar agreement. Being the most crucial part of the mission, the arms would be more advanced and stronger than the previous rover sent to Mars. The project signifies a massive potential for the space robotics market from surface exploration missions, as several countries, including China and Russia would also be looking to launch similar projects, with robotic arms being an indispensable component of space rovers and aircrafts.

Maxar Technologies Presenting a technological offering that has widespread commercial applications, Maxar Technologies is in the process of completing its Dragonfly project, which is another NASA program, aimed at assembling spacecraft parts in the orbit. The program would make it possible to launch antennas and other satellite systems in a more compact way inside a rocket. Dragonfly, supposedly a robotic arm weighing 76 Kgs and capable of reaching 5 meters from the bases, would be having motors, avionics and advanced sensors to eliminate the single point of failure risk. Maxar is planning to offer the program as a commercial offering to private satellite operators as well as government agencies, which will immensely transform the approach of the space robotics market.

The key companies operating in the space robotics market include Altius Space Machines, Inc., Astrobotic, GITAI, Honeybee Robotics, MAXAR Technologies, Motiv Space Systems, Inc. Northrop Grumman, Oceaneering, Space Applications Services NV/SA, SpaceX, Stinger Ghaffarian Technologies (SGT). Companies are investing highly in R&D capabilities to develop efficient & technically advanced robot technologies applicable in exploration & servicing operations. These players are witnessing several partnerships and contracts with government agencies for technical advancements in the space robotics industry. For instance, in December 2018, MDA announced that the company has signed four contracts with Canada under its Defence Innovation Research Program.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Blog: www.industry-source.org

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