Space Rovers (Market Valued at $431.30 Million in 2019, Projected to Reach $998.29 Million by 2030, with a CAGR of 9.2%)

According to a recent report published by Allied Market Research, titled, "space rovers' market by type and application: opportunity analysis and industry forecast, 2020-2030," the global space rovers market was valued at $431.3 million in 2019, and is projected to reach $998.3 million by 2030, registering a CAGR of 9.2%.

North America dominates the market in terms of revenue, followed by Europe, Asia Pacific and LAMEA. U.S. dominated the global space rovers market share in 2019, and is expected to grow at a significant rate during the forecast period, owing to large investments in the national space agency, NASA and favorable space regulations for commercial missions. Space rovers are special vehicles designed to traverse over rough, mountainous terrain of extraterrestrial bodies such as planets, moons, and asteroids.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/10650

A rover is equipped with cameras, sensors, robotic arms, and other equipment to map surroundings and collect rocks, soil, and water samples. They help to examine atmosphere of outer space entities before planning a human space exploration mission. Several space rovers have been sent on Mars, Moon, and even asteroids over past few decades to find traces of water and/or past life. In recent years, the market for space mining has gained traction and several space agencies are planning to launch rovers and orbiters to distinct celestial bodies to explore presence of different materials such as gold, platinum, silver, titanium, iron, aluminum, cobalt, and nickel.

By type, the market is categorized into lunar surface exploration, mars surface exploration, and asteroids surface exploration. The mars surface exploration segment accounted for the highest revenue in 2019, owing to rise in investments for mars exploration missions by several space agencies such as NASA, JAXA, and ISRO. In addition, continuous developments in improving efficiency of rover missions has allowed scientists to equip rovers with modern technologies such as its robust design, fully autonomous maneuverability, superior entry, descent, and landing technologies. Such technologies enhance success rate of space missions. Moreover, the lunar surface exploration segment is anticipated to show a significant CAGR during the forecast period, owing to various moon exploration missions, such as NASA's Commercial Lunar Payload Services (CLPS) program, Chandrayaan-3, and Emirates Lunar Mission, planned in the upcoming years.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/space-rovers-market/purchase-options

Rise in investments for space explorations across the globe and surge in investments in space mining are expected to drive growth of the global space rovers market. However, factors such as the high costs involved in space exploration missions and high chances of failure of space exploration projects are expected to restrain growth of the market during the forecast period. Furthermore, supportive government regulations are expected to offer potential opportunities for the global space rovers market during the forecast period.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The COVID impact on the space rovers market is unpredictable and it is expected to remain in force till the second quarter of 2021.

The COVID-19 outbreak forced governments across the globe to divert their investments from space programs to strengthen healthcare services to manage spread of the virus. This led to significant delays in space missions in several nations.

Moreover, nationwide lockdowns disrupted supply-chain as several space technology part manufacturers had to partially or fully shut down their operations.

The adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of innovative space rovers technologies.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By type, the lunar surface exploration segment is expected to register a significant growth during the forecast period.

By application, the commercial/mining segment is anticipated to exhibit significant growth in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/10650

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

Space Applications Services NV/SA,
Astrobotic Technology, Inc.,
Planetary Transportation Systems GmbH,
ispace, inc.,
Maxar Technologies,
Motiv Space Systems, Inc.,
Honeybee Robotics,
Northrop Grumman,
Toyota Motor Corporation,
Airbus S.A.S.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Space Logistics Market :
https://www.alliedmarketresearch.com/space-logistics-market-A47401

Satellite Communication Market :
https://www.alliedmarketresearch.com/communication-satellite-market-A10519

Satellite Bus Market :
https://www.alliedmarketresearch.com/satellite-bus-market-A07764

Satellite Services Market :
https://www.alliedmarketresearch.com/satellite-services-market

Navigation Satellite Systems Market :
https://www.alliedmarketresearch.com/navigation-satellite-market-A10439

Satellite Ground Station Market :
https://www.alliedmarketresearch.com/satellite-ground-station-market-A107603

Satellite Antenna Market :
https://www.alliedmarketresearch.com/satellite-antenna-market-A13897

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

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 domain.

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This release was published on openPR.