Space Robots Market 2021 Highlights Recent Trends, Market Growth, Business Opportunities till 2026

The Space Robots Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Space Robots market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Space Robots market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Space Robots market.

The space robots market is projected to register a CAGR of more than 6% during the forecast period.

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Top Leading Companies of Space Robots Market are - Northrop Grumman Corporation, Lockheed Martin Corporation, MDA Corporation (Maxar Technologies Ltd), ASTROBOTIC, BluHaptics Inc. (Olis Robotics), Effective Space Solutions Limited, Honeybee Robotics, Made in Space, Metecs LLC, Motiv Space Systems Inc., Sp and others.

Industry News and Updates:

Consortium led by Northern Private Capital Signs Definitive Agreement to Acquire MDA, Canada’s Leading Space Technology Company

TORONTO, Dec. 30, 2019-- A consortium led by Northern Private Capital (NPC), a Toronto-based investment firm led by John Risley and Andrew Lapham, announced today it has signed a definitive agreement to acquire MDA from Maxar Technologies (NYSE:MAXR)(TSX:MAXR) for CAD $1 billion.  Upon closing, MDA’s corporate headquarters will return to Canada.

Key Market Trends:

Deep Space Segment is Projected to Register with the Highest CAGR During the Forecast Period

In segmentation by application, currently, the deep space segment has the largest market share in the space robots market. There is an increase in the use of robots in deep space applications, as it is difficult for humans to sustain the harsh environmental condition in space, especially in deep space where living beings cannot survive. Space agencies and private firms are developing deep space robots that could function in hostile environments. For instance, NASA is currently working on its latest space-exploring robot, which is dubbed the Shapeshifter. It is a flying amphibious robot that has capabilities like rolling, flying, floating, and swimming. The robots are being developed by the NASA Innovative Advanced Concepts research program, Ali Agha of the Jet Propulsion Lab. Once fully developed, the robots can explore Saturn's moon, Titan, which is known to have liquid (in the form of methane seas) on its surface. Such developments are expected to drive the market for the deep space robots in the years to come.

North America has the Largest Share in the Space Robots Market

Currently, North America has the largest share in the space robots market. Several private companies are developing space robots along with NASA for various applications. In February 2020, NASA awarded a USD 5 million contract to Maxar Technologies to deliver a robotic arm called Sample Acquisition, Morphology Filtering and Probing of Lunar Regolith (SAMPLR). The arm will be used to explore the moon by acquiring samples for determining the geotechnical properties of the moon. With the growing utilization of robots in space, NASA is currently working on developing modules for the storage of robots in space. In December 2019, NASA attached Robotic Tool Stowage (RiTS), a protective storage unit for critical robotic tools, to the outside of the International Space Station. NASA also plans to increase the human and robotic collaborations for its other projects like the exploration of the Moon, Mars, and the deep space. 

Investigator Observers Strong Growth in Specific Regions:

– Europe Market (Germany, UK, France, Russia, Italy)

– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

– South America Market (Brazil, Argentina, Colombia)

– North America Market (United States, Canada, Mexico)

– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Space Robots Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Space Robots Market (%),2016 - 2026
- Space Robots Market Share, By Brand
- Space Robots Market Share, By Company
- Space Robots Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Space Robots Market Value Analysis & Forecast
- Promising Space Robots Development by Major Companies
- Detailed Space Robots Portfolio of the Major Companies
- Major Deals in the Space Robots Market
- Major Companies Analysis

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