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AI in Space Exploration Market Size, Growth Analysis, Share, Key Trends And Forecast To 2033
AI in Space Exploration Market Overview
As per the report, 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 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%.
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Growing Space Missions Driving The Expansion Of The AI In Space Exploration Market
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.
Strategic Collaboration By Major Players Elevate The AI In Space Exploration Market
Major companies operating in the AI in space exploration market are focused on developing strategic collaborations to strengthen their position in the market. Strategic collaborations refer to purposeful partnerships or alliances between entities to achieve common goals, leveraging complementary strengths and resources for mutual benefit. For instance, in February 2023, IBM, a US-based multinational technology corporation, and NASA, a US-based government agency, collaborated to apply artificial intelligence (AI) to Earth science data, to discover new insights about our planet. The collaboration involves the development of AI foundation models to analyze petabytes of text and remote-sensing data, with the models being open and available to the entire science community.
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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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
Contents of the report:
1. Executive Summary
2. AI in Space Exploration Market Report Structure
3. AI in Space Exploration Market Trends And Strategies
4. AI in Space Exploration Market - Macro Economic Scenario
5. AI in Space Exploration Market Size And Growth
…..
27. AI in Space Exploration Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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