Press release
Space Rovers Market Booms Globally, to Register 9.2% CAGR by 2030: Allied Market Research
As per the report published by Allied Market Research, the global space rovers market generated $431.3 million in 2019, and is expected to reach $998.3 million by 2030, growing at a CAGR of 9.2% from 2020 to 2030. The report highlights the key segments, top investment pockets, growth by segmentation, and competitive scenario.
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Mayank Halmare, Lead Analyst, Aerospace and Defense at Allied Market Research, highlighted, “by type, the mars surface exploration segment dominated the global space rovers market in 2019, in terms of revenue, and is expected to lead the market throughout the forecast period. By application, the commercial/mining segment is anticipated to show a lucrative growth during the forecast period. Presently, North America is the highest revenue contributor, followed by Europe.”
According to the report, the space rovers market across Asia-pacific region would portray the fastest CAGR from 2020 to 2030.
The global space rovers market is analyzed across type and application. Based on type, the market is divided into lunar surface exploration, mars surface exploration, and asteroids surface exploration. The mars surface exploration segment contributed to the major share in 2019 and is expected to lead the trail by 2030, due to rise in investments for mars exploration missions by several space agencies such as NASA, JAXA, and ISRO. The lunar surface exploration segment, on the other hand, would manifest the fastest CAGR during the forecast period. This is attributed to various moon exploration missions, such as NASA’s Commercial Lunar Payload Services (CLPS) program, Chandrayaan-3, and Emirates Lunar Mission, planned in the coming years.
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Based on application, the space rovers market is categorized into commercial/mining and research. The research segment accounted for the major share in 2019, and is projected to rule the roost by the end of 2030. This is owing to the launch of space rover missions for research purposes i.e., to find traces of water and past lives on extraterrestrial bodies. Simultaneously, the commercial/mining segment would cite the fastest CAGR BY 2030. High prospects of mining precious metals such as gold, platinum, and silver; and increase in participation of private players in the space mining segment drive the growth of the segment.
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The global space rovers’ market report includes a comprehensive analysis of the major market players such as Japan Aerospace Exploration Agency (JAXA), National Aeronautics and Space Administration (NASA), China National Space Administration (CNSA), State Space Corporation ROSCOSMOS (ROSCOSMOS), Indian Space Research Organization (ISRO), Canadian Space Agency (CSA), UAE Space Agency, and European Space Agency (ESA).
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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