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Space Robotic Solutions Market Size, Deep Analysis, Growth Statistics, Share, Trends And Forecast To 2033
Space Robotic Solutions Market
As per the report, the space robotic solutions market size has grown rapidly in recent years. It will grow from $4.11 billion in 2023 to $4.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The space robotic solutions market size is expected to see strong growth in the next few years. It will grow to $6.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
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Surging Demand For Satellite Launches And Space Missions Fuels Growth In The Space Robotic Solutions Market
The rising number of satellite launches and space missions is expected to propel the space robotic solutions market going forward. Satellite launches and space missions refer to the activities related to deploying satellites into orbit around the Earth or other celestial bodies. The increasing number of satellite launches and space missions is driven by growing demand for telecommunications, Earth observation, scientific research, and commercial opportunities. Satellite launches and space missions employ space robotic solutions for satellite assembly, maintenance, and debris removal, enhancing mission flexibility and extending spacecraft operational lifetimes. For instance, according to the United Nations Office for Outer Space Affairs (UNOOSA), an Austria-based international cooperation agency, the number of individual satellites orbiting the Earth in 2022 reached 8,261, marking an 11.84% increase compared to 2021. Further, by the end of January 2022, around 12,293 satellites had been launched into space. Therefore, the rising number of satellite launches and space missions is driving the growth of the space robotic solutions market.
Space Robotic Solutions Innovations In Autonomous Navigation And Manipulation
Major companies operating in the space robotic solutions market are focused on developing technologically advanced solutions, such as Telescopic Grapple Hook ACR based on chainpick technology, to enhance the efficiency and effectiveness of space missions. It is an advanced robotic system designed to autonomously assemble, repair, and recycle satellites in orbit, streamlining space missions and enhancing sustainability. For instance, in October 2023, Hai Robotics, a China-based company that provides automated warehouse solutions and autonomous mobile robots (AMRs), launched the Telescopic Grapple Hook ACR alongside the HaiPick A42T-E2 and HaiPick System 3 innovations, specifically designed to alleviate customer concerns regarding heightened storage density and performance within a more compact warehouse space. Integrating the telescopic Grapple Hook ACR into the HaiPick System 3 forms a synergistic nexus, optimizing performance and augmenting storage density. Featuring ChainPick technology, it comes equipped with a grappling hook boasting a rapid picking speed of 2.7 seconds, efficiently retrieving totes quickly.
The space robotic solutions market covered in this report is segmented -
1) By Solution: Remotely Operated Vehicles, Remote Manipulator System, Software, Services
2) By Application: Deep Space, Near Space, Ground
3) By End User: Commercial, Government
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Major companies operating in the space robotic solutions market are Northrop Grumman Corporation, Oceaneering International Inc., Maxar Technologies Inc., iRobot Corporation, MDA Space and Robotics Ltd., Redwire Corporation, Astroscale Holdings Inc., Intuitive Machines LLC., AMP Robotics Corp., Olis Robotics Inc., D-Orbit SpA, Tethers Unlimited Inc., ClearSpace SA, Exyn Technologies Inc., Astrobotic Technology Inc., Tethers Unlimited Inc., Space Applications Services NV/SA, Metecs LLC., BluHaptics Inc., Motiv Space Systems Inc., Altius Space Machines Inc., Bradford Space Inc., Kubos Corporation, Oceaneering Space Systems Inc., Ubotica Technologies Ltd.
Contents of the report:
1. Executive Summary
2. Space Robotic Solutions Market Report Structure
3. Space Robotic Solutions Market Trends And Strategies
4. Space Robotic Solutions Market - Macro Economic Scenario
5. Space Robotic Solutions Market Size And Growth
…..
27. Space Robotic Solutions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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