The global space robotics market is anticipated to exhibit considerable CAGR of 6.3% during the forecast period (2024-2031). Robotics and autonomous systems play an instrumental role in the space exploration missions owing to their ability to perform in extreme harsh condition of space. Therefore, the significant rise in the funding for various space robotics programs is a key factor driving the growth of the global space robotics market. Several national space agencies such as The National Aeronautics and Space Administration (NASA) in the US, The European Space Agency, The Japan Aerospace Exploration Agency (JAXA), Roscosmos State Corp. for Space Activities in Russia, China National Space Administration, and The Indian Space Research Organisation have made significant funding to launch several robotics programs.
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For instance, the JAXA has launched the second Kibo Robot Programming Challenge (KRPC) in March 2021. In the challenge, the students are allowed to program free-flying robots such as Astrobee and Int-Ball in the International Space Station (ISS) to solve different problems. The goal is to allow scientists on the ground to capture images and video remotely using a robot that can travel around in space autonomously and capture both moving and still imagery. Robots are programmed to perform tasks such as taking inventory, filming astronaut experiments with built-in cameras, and collaborating to carry cargo around the station. The frequent launch of such projects is anticipated to drive the growth of the space robotics market during the forecast period.
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Market Coverage
- Segment Covered-
o By Service Type
o By Application
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Altius Space Machines, Inc., Astrobotic Technology, Inc., Effective Space Solutions Ltd., Maxar Technologies, Inc., Motiv Space Systems, Inc., Northrop Grumman Corp.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Space Robotics Market Report Segment
By Service Type
- On-orbit Assembly & Manufacturing
- Satellite Servicing
- De-orbiting Services
- Surface Mobility
- Launch Support
- Re-supply
By Application
- Deep Space
- Near Space
By End-User
- Government
- Commercial
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