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Global Space Robotics Market Worth $6.96 Billion by 2029, Growing at 7.8% CAGR
Space Robotics
Space Robotics Market Outlook: What Size And CAGR Are Anticipated By 2025?
In recent times, the market size of space robotics has seen significant expansion. The valuation is projected to increase from $4.84 billion in 2024 to $5.15 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. The observed growth in the past can be linked to initiatives in space exploration, governmental space operations, the expansion of the commercial space sector, the emergence of private space enterprises, along with AI and automation advancements.
What Is the Expected CAGR for the Space Robotics Market Growth Through 2029?
In the coming years, the market size of space robotics is anticipated to witness robust growth, projecting a valuation of $6.96 billion by 2029 with a compound annual growth rate (CAGR) of 7.8%. Several factors like the surge in space exploration missions, burgeoning commercial space industry, potential space mining campaigns, deployment of satellite constellations, and planet colonization efforts are contributing to this growth forecast period. Key trends noted for the same period comprise miniaturization and efficiency enhancement, integration of autonomy and artificial intelligence, development of modular and flexible systems, a shift towards interplanetary exploration, and increasing demand for on-orbit services.
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What Are the Primary Drivers Behind Space Robotics Market Growth?
The surge in funding for space missions is anticipated to accelerate the expansion of the space robotics market. It refers to the escalating sums of money devoted to exploring and developing space. An increase in such investments will result in more funds being channeled into space robotics, triggering notable advancements in technology. For example, as reported by the European Space Policy Institute, an independent Austrian think-tank offering informed perspectives on medium to long term space related issues, European space start-ups witnessed an unprecedented investment of $1.2 billion in 2022, reflecting a 23% surge from the prior year. Thus, the reinforced investment in space missions is fueling the expansion of the space robotics market.
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What Are the Key Segments Driving Space Robotics Market Growth?
The space robotics 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
Subsegments:
1) By Remotely Operated Vehicles: Rovers, Landers, Satellites
2) By Remote Manipulator System: Robotic Arms, Grippers, End-Effectors
3) By Software: Autonomous Navigation Software, Communication Software, Control System Software
4) By Services: Mission Support Services, Maintenance And Repair Services, Data Analytics Services
What Are the Technological Trends Impacting the Space Robotics Market?
Key players in the space robotics market are focused on developing cutting-edge products such as robotic lunar landers with the aim of enhancing exploration potential, enabling payload delivery to the moon and backing a growing range of commercial and scientific missions in the burgeoning space economy. Robotic lunar landers are spacecrafts operated autonomously to deliver payloads to the moon's surface, enabling scientific exploration, technology testing, and commercial activities without the need for human involvement. For instance, Astrobotic, a US-based space robotics technology developer for lunar and planetary missions, launched the Peregrine Lunar Lander in April 2022. This sophisticated spacecraft, designed for precise payload delivery to the moon's surface, boasts advanced autonomous landing technologies and a robust propulsion system. Its state-of-the-art structure enables flexible payload integration, accommodating various lunar exploration scientific instruments and technology demonstrations. The Peregrine, with its advanced navigation systems, including Doppler LiDAR and Terrain Relative Navigation, aims to improve space robotics capabilities for future lunar missions and scientific research.
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Who Are the Major Competitors in the Global Space Robotics Market?
Major companies operating in the space robotics market include Northrop Grumman Corporation, Altius Space Machines Inc., Astrobotic Technology Inc., Honeybee Robotics Ltd., Maxar Technologies Inc., Motiv Space Systems Inc., Oceaneering International Inc., Olis Robotics, Intuitive Machines LLC, Effective Space Solutions Ltd., Stinger Ghaffarian Technologies Inc. (SGT), GITAI Inc., Ispace Inc., Lockheed Martin Corporation, ABB Ltd., NVIDIA Corporation, Blue Origin LLC, Boeing Company, Space Exploration Technologies Corp. (SpaceX), IHI Corporation
Which Region Dominates the Space Robotics Market Share in 2025?
North America was the largest region in the space robotics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global space robotics market during the forecast period. The regions covered in the space robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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