Stratview Research has published a report on the Space Robotics Market Segmented by Solution Type (Services, Products), by Application Type (Deep Space, Near Space, and Ground), by End-User Type (Commercial, Government), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
According to the presented report, the space robotics market was estimated at USD 4.43 billion in 2022 and is likely to grow at a CAGR of 6.77% during 2023-2028 to reach USD 6.62 billion in 2028.
What is space robotics?
Space robotics are machines that are designed with the capability of surviving in the environment of space. They are used in different activities in space such as construction and maintenance purposes, performing exploration, and many others. Such robots are controlled by humans through local consoles such as the astronauts in the spacecraft who can control the robots that they have sent.
Space robotics are important today as they have the ability to do a task in an inexpensive way and also are known to complete the tasks with greater performance. They can work for long durations and can be sent to areas where it can be risky for humans.
Market Dynamics
The growth of the space robotics market is driven by a wide array of factors, such as-
- Increasing demand for servicing prevailing geostationary satellites.
- Debris elimination.
- Technological progressions in self-governing systems.
- Collective demand for on-orbit engineering and assembly in the International Space Station (ISS) from various government agencies and commercial entities.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Market Segments' Analysis
The market researchers have studied the Space Robotics Market minutely for better understanding. The report consists of segment-wise details to assist the users in making suitable decisions for better growth opportunities. Below is the short piece of information -
Based on the solution type, the market is segmented into services and products. The satellite servicing segment led the market in 2022 and is estimated to remain dominant during the forecast period. The growth of the satellite servicing segment can be attributed to the escalating demand and requirement for space-based services, such as satellite servicing, de-orbiting services, surface mobility, and resupply services.
Based on the application type, the market is segmented as deep space, near space, and ground. The near space segment is estimated to register the highest growth in the coming five years. This growth of the segment can be credited to the claim for resupply missions for the International Space Station (ISS), on-orbit satellite engineering, and increasing requirements to service prevailing geosynchronous satellites.
Based on the end-user type, the market is segmented as commercial and government. The commercial segment is expected to depict a higher growth against the government segment, during the forecast period, driven by the increasing demand for satellite servicing, refueling and mission extension services which provide prospects for satellite operators/owners by extending the life of satellites and hence, generate profits from prevailing satellite fleets, and deliver enhanced flexibility in handling in-orbit satellite fleets.
In terms of regions, North America was expected to register the largest share of the market in 2022, and the region is expected to continue its dominance during the forecast period as well. The market is driven by high demand for space robotic activities from prominent establishments, such as NASA and the Department of Defense, owing to the rising dependence on space resources and for empowering safety in space operations. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
What else are available in this report?
The answer lies in the TOC and other details. Take a sneak-peek into the TOCs of this report.
- Report Scope
- Report Objectives
- Research Methodology
- Market Segmentation
- Secondary Research
- Primary Research
- Breakdown of Primary Interviews by Region, Designation, and Value Chain
- Data Analysis and Triangulation
Key Players
- Altius Space Machines
- Astrobotic Technology
- Effective Space Solutions
- Honeybee Robotics
- ITT Corporation
- Maxar Technologies
- Motiv Space Systems
- Northrop Grumman
- Olis Robotics
- Stinger Ghaffarian Technologies (SGT).
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Custom Research:
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About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
