AI in Space Exploration Global Market Report 2024 - by Size, Report, Share, Demand, Forecast To 2033

"The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the AI in Space Exploration Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The ai in space exploration market size has grown exponentially in recent years. It will grow from $3.4 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 30.8%. The growth in the historic period can be attributed to demand for ai technology to enhance space missions, increased government investment, increased autonomous systems and robotics, increased data management, cognitive cloud computing in space.

The ai in space exploration market size is expected to see exponential growth in the next few years. It will grow to $12.78 billion in 2028 at a compound annual growth rate (CAGR) of 30.2%. The growth in the forecast period can be attributed to increasing number of space launches, increasing number of space missions, increasing autonomous vehicles, increasing anomaly detection, increasing satellite operations. Major trends in the forecast period include technological advancements, product innovations, integrating ai technologies,ai-powered robots, development of new space technologies.

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Key Market Players:
Major companies operating in the ai in space exploration market report are Lockheed Martin, Airbus, IBM, Northrup Grumman, Hewlett Packard Enterprise (HPE), Thales Group, Booz Allen Hamilton, Spacex, Maxar Technologies Inc., Astroscale, Planet Labs Inc., Spire Global, Iceye, Capella Space, Blacksky Global, Hawkeye 360, D-Orbit, Orbital Insight Inc., LeoLabs, Slingshot Aerospace, Kuva Space, Analytical Space, Raptor Maps, Phase Four, Descartes Labs, AADYAH Aerospace, Ubotica Technologies, Swarm Technologies, Exo-Space, Craft Prospect

Market Drivers:
An increasing number of space missions is expected to propel the growth of the AI in space exploration market going forward. Space missions refer to planned and organized endeavors to explore outer space or celestial bodies using spacecraft, satellites, rovers, telescopes and other technologies. AI in space exploration provides numerous benefits, enhancing the capabilities of space missions across various aspects such as autonomous navigation and control, enhanced data analysis, automated planning and scheduling and advanced robotics. For instance, in January 2024, according to the United Nations Office for Outer Space Affairs, an Austria-based United Nations secretariat, 2,664 objects were launched into orbit in 2023, compared to 2,478 in 2022, indicating an increase in the launch of space missions. Therefore, the increasing number of space missions is driving the AI in space exploration market.

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The ai in space exploration market covered in this report is segmented -
1) By Type: Rovers, Robotic Arms, Space Probes, Other Types
2) By Application: Robotics, Remote Sensing and Monitoring, Data Analytics, Asteroid Mining, Manned Vehicles and Reusable Launch, Communications, Remote Missions
3) By End-user: Government, Commercial

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