Deep Space Exploration And Technology Market Challenges and Influence Factors Shared in a Latest Report

The Global Deep Space Exploration And Technology Market size is expected to reach USD 630.23 Billion in 2028 and register a CAGR of 7.3% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as high private funding in the space sector, advancements in Artificial Intelligence (AI) and digital technologies, increasing efforts by various space agencies to engage in deep space exploration missions, and rising interests across the public sector.

Advancements in deep space exploration and technology is driving an increasing number of missions being planned by various space agencies to investigate celestial bodies such as Earth's moon, Mars surface, Jupiter's moon, Saturn's moon, the sun, and asteroids. Success of space exploration missions are dependent on the unique capabilities of humans, and quick decision making, cognitive adaptability, and versatility are critical requirements in such activities. Robots are also used to achieve exploration goals that can benefit humankind. Deep space exploration has led to immense technological and scientific advancements in health and medicine, transportation, consumer goods, energy and environment, information technology, and industrial applications. These are other key factors expected to drive revenue growth of the market going ahead.

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The unmanned segment accounted for largest revenue share in 2021 as unmanned missions are more frequently planned for exploration of the moon and for Mars. Moreover, unmanned spacecraft are cheaper and safer to launch and operate. A number of countries opt for unmanned spacecraft missions as a result of such benefits and advantages. Launch of new satellites into orbit are further expected to drive growth of the global unmanned spacecraft market to a major extent during the forecast period.

Some major companies in the global deep space exploration and technology market report are Airbus Defense & Space, Lockheed Martin Corporation, The Boeing Company, SpaceX, Blue Origin, Northrop Grumman Corporation, Thales Alenia Space, Astrobotic, MAXAR Technologies, Inc., and Sierra Nevada Corporation.

Some Key Highlights From the Report

On 9 April 2022, SpaceX launched first all-private crew for to the International Space Station. The flight was termed as a milestone in commercialization of spaceflight, and is a result of partnership between Space X, Axiom, and NASA. NASA furnished the launch site and will also take responsibility of the astronauts as they start their eight-day mission of biomedical and science research while the spaceflight will be in orbit.

North America accounted for largest revenue share in 2021 and is expected to maintain its dominance over other regional markets during the forecast period. Robust revenue growth can be attributed to increase in space budget by NASA and high investments by private companies. Additionally, presence of a number of private companies such as The Boeing Company, Lockheed Martin Corporation, SpaceX, and Blue Origin in the U.S. are focusing on making large investments in spacecraft technologies and initiatives. This coupled with major government spending is expected to continue to support North America market revenue growth during the forecast period.

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Emergen Research has segmented the global deep space exploration and technology market based on technology mode, application, subsystem, mission type, end use, and region:

Technology Mode Outlook (Revenue, USD Billion; 2021-2028)

Rockets

Landers

Robots

Satellites

Orbiters

Application Outlook (Revenue, USD Billion; 2021-2028)

Moon Exploration

Transportation

Orbital Infrastructure

Mars Exploration

Subsystem Outlook (Revenue, USD Billion; 2021-2028)

Propulsion System

Chemical

Non-chemical

Navigation & Guidance System

Command & Control System

Others

Mission Type Outlook (Revenue, USD Billion; 2021-2028)

Manned Mission

Unmanned Mission

End Use Outlook (Revenue, USD Billion; 2021-2028)

Government Space Agencies

Commercial

Military

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Regional Outlook (Revenue, USD Billion; 2021-2028)

North America

U.S.

Canada

Mexico

Europe

U.K.

Germany

France

Italy

Spain

BENELUX

Asia-Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Turkey

Rest of MEA

Radical Features of the Deep Space Exploration and Technology Market Report:

The report encompasses Deep Space Exploration and Technology market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements

An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently

Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies

Supply chain analysis along with technological advancements offered in the report

The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Deep Space Exploration and Technology industry

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