Press release
Space Robotics Market Market Is Expected Significant Growth, Forecast From 2022 to 2030
Space Robotics Market | Emergen Research
Technologies such as Artificial Intelligence (AI) and IoT have significantly boosted speed of development and acceptance of the Internet of Robotic Things (IoRT), which is a robotic process system that enables space robots to communicate safely with other IoT-enabled devices, learn, and develop characteristics such as self-maintenance and self-awareness.
In addition, IoRT applications enable space robots to plan, execute, and complete tasks under varying environmental conditions and situations by leveraging the information collected from their own infrastructure and the collective intelligence of robotic things. In addition, technologies such as AI aid robotic devices to operate using learning algorithms and provide cognitive decision-making capabilities. Moreover, converging IoT, AI, and robotics boosts development of IoRT applications that improve awareness and decision-making, thereby resolving complex operations more effectively.
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Competitive Outlook:
The global Space Robotics market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Space Robotics market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some major companies operating in the global market include
Oceaneering International, Inc., Northrop Grumman, Motiv Space System, Inc., Metecs, LLC, Maxar Technologies, Intuitive Machines, LLC, Astrobotic Technology, Inc., Altius Space Machines, Motiv Space Systems, Inc., Ispace, Inc., Olis Robotics, and Stinger Ghaffarian Technologies, Inc.
Key Highlights From the Report
Solution segment accounted for significant revenue share in 2021. Increasing adoption of robotic subsystems and rising demand for software that enables multiple robot collaborative planning are key factors driving revenue growth of this segment. In addition, significant investments by major companies such as PIAP Space, Olis Robotics, and others in related initiatives and projects is contributing to the revenue growth of this segment.
Deep Space segment accounted for a significantly large revenue share in 2021. Major investments by domestic and international space research institutes and rapid advancements in robotic technologies such as incorporation of AI and ML, IoT devices, and others play a major role in driving revenue growth of this segment. In addition, increasing participation of private companies such as SpaceX and others has contributed significantly to revenue growth of this segment.
Government segment accounted for significantly robust revenue share in 2021. Increasing emphasis on space and satellite technologies for military & defense purposes and applications is a major factor driving market revenue growth in this segment. In addition, government bodies in various countries are supporting as well as funding research & development activities associated with space and robotics, which is further boosting market revenue growth.
Market in North America accounted for largest revenue share in 2021. Presence of major market companies such as Northrop Grumman, Redwire Corporation, and others play a key role in driving market revenue growth in this region. These companies are investing significantly in the construction of new manufacturing facilities and developing innovative robotic systems that precisely fulfill end-user requirements.
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The report further covers comprehensive SWOT analysis and Porter's Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.
Emergen Research has segmented global space robotics market on the basis of offerings, application, end-use, and region:
Offerings Outlook (Revenue, USD Billion; 2019-2030)
Solution
Autonomous Sensors and Systems
Robotics and Subsystems
Software
Others
Services
Satellite Servicing
On-orbit Assembly
Surface Mobility
De-orbiting Services
Others
Application Outlook (Revenue, USD Billion; 2019-2030)
Near Space
Space Operations
Space Exploration
Space Transportation
In Space 3D Printing
Others
Deep Space
Space Transportation
Space Exploration
Ground
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Government
Defense Department
Space Agencies
Others
Commercial
Private Satellite Operators
Launch Service Providers
Others
Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type & applications
Chapter 9: Current and Future Trends
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