Space Robotics Market by Solution (Remotely Operated Vehicles, Remote Manipulator Systems, Software, and Services), by Application (In-Orbit Maintenance & Life Extension, Deep Space Exploration, Near Space Exploration, Surface Exploration, Space Debris Removal, and Other Applications), and by Organization Size (Government and Commercial) – Global Opportunity Analysis and Industry Forecast 2024-2030
Industry: Aerospace & Defense | Publish Date: 29-Nov-2024 | No of Pages: 291 | No. of Tables: 164 | No. of Figures: 134 | Format: PDF | Report Code : AD408
Space Robotics Market Overview
The Space Robotics Market size was valued at USD 2.97 billion in 2021 and is predicted to reach USD 7.11 billion by 2030 with a CAGR of 10.2% from 2022-2030. Space robots are the type of robots that are specifically designed to perform activities in space. They can explore places that are not accessible to humans as they can operate in space and can withstand extreme temperatures or radiation. Space robots are built to execute programmed tasks over long periods without direct human supervision. They are used to assist an astronaut in performing difficult tasks in space such as collecting samples, assembling and fixing equipment and structures including satellite servicing. The crucial components of a space robot are a controller, actuators, sensors, power supply, and communication system.
Market Dynamics and Trends
Increasing demand for geostationary satellites (GEO) across the globe such as communication satellite, weather satellites and navigation satellites that uses robots for servicing and refueling is driving the growth of the space robotics market. For instance, in April 2021, Space logistics of Northrup Grumman Corporation had refueled a GEO satellite called Intelsat IS-1002 by using its mission extension vehicle-2 (MEV-2), which is capable of refueling, inspecting and repairing satellites. In addition, the commercialization of space exploration and the emergence of private companies in the space robotics industry is further driving the growth of the market.
For instance, in January 2021, Altius Space Machines launched a commercially available universal grappling point for satellites called DogTag. DogTags can mitigate the growing space debris by making it easier to de-orbit non-functioning satellites, and to tug functional satellites to new orbits Moreover, development of artificial intelligence (AI) enabled space robots such as space assistants that provides the astronaut with voice-controlled access to documents and media such as operations manual and repair instructions of equipment, procedures for experiments is driving the growth of space robotics market.
For instance, in December 2019, Airbus developed a space assistant robot for the German Aerospace Center (DLR) called CIMON-2. CIMON-2 was launched on the CRS-19 supply mission to the International Space Station (ISS) and scheduled to stay on the ISS for three years to assist onboard astronauts.
However, high deployment & maintenance cost of space robots and regulatory issues associated with privately developed space robots are the factors which restrains the market growth. On the contrary, integration of nano technology and nanomaterials in space robotics such as development of carbon nanotubes and lightweight solar sails that uses the pressure of light from the sun to propel a spacecraft are expected to create ample opportunities for the market in the coming years.
Market Segmentations and Scope of the Study
The space robotics market report is segmented on the basis of solution, application, organization type, and geography. Based on solution, the market has been segmented into Remotely operated vehicle, remote manipulator system, software and services. Based on application, the market has been segmented into deep space, near space and ground. On the basis of organization type, the market has been segmented into government and commercial. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia Pacific, and Rest of the World.
Geographical Analysis:
North America holds the lion's share of space robotics market, and is expected to continue its dominance during the forecast period. This is attributed to factors such as increasing number of space activities by several organizations in this region such as NASA, CSA and AEM to advance scientific research in space. For instance, in July 16, 2021, NASA announced that it had finalized a contract with Intuitive Machines (IM) for 41.6 million US dollars. Under this contract, IM will build a mini extreme mobility lunar vehicle called Micro-Nova for NASA. Micro-Nova can carry a one-kilogram payload for more than 2.5 kilometers to access lunar craters and capable of high-resolution surveying of the lunar surface.
Moreover, presence of major market players such as Oceaneering International, Inc., Maxar Technologies, Northrop Grumman, and SpaceX further boost the market growth in this region. For instance, in February 14, 2022, SpaceX had announced its spaceflight program called Polaris. Under this program SpaceX aims to launch its first flight of SpaceX Starship with humans on board.
On the other hand, Asia-Pacific is expected to show a steady rise in the space robotic market due to the increasing investments in space activities by countries such as China, Japan and India. For instance, in February 2022, Government of India had allocated 1.7 billion US dollar for the Indian department of space to advance space activities in the country. Moreover, upcoming space programs and exploration missions in this region such as Chang'e 7 by China and Chandrayaan-3 robotic lunar exploration mission by India is further expected to boost the space robotics market in this region.
Competitive Landscape
Various market players operating in the space robotics industry includes Oceaneering International, Inc., Maxar Technologies, Northrop Grumman, Astrobotic Technology, Motiv Space Systems, Inc., Altius Space Machines, SpaceX, Honeybee Robotics, Intuitive Machines, LLC, Olis Robotics. These market players are adopting various joint venture strategies and launching numerous products across various regions to maintain their dominance in the market.
For instance, in April 2022, Astrobotic Technology launched the flight model of its Peregrine lunar lander. The flight model of the Peregrine lunar lander will be used on the rocket of United Launch Alliance called Vulcan Centaur, which is scheduled to launch in December 2022.
Moreover, in February 2022, Northrop Grumman Corporation’s Space Logistics announced an agreement with Optus. Under this agreement, Northrop will provide a mission extension pod (MEP) to install on Optus D3 satellite in 2025. Optus D3 is an Australian geostationary communications satellite, which is operated by Optus and provides communications services to Australia. After successful installation, the mission extension pod (MEP) will be able to provide six years of life extension for Optus D3.
Key Benefits
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The space robotics market report provides a quantitative analysis of the current market and estimations from 2022 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
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The study comprises of a detailed analysis of the space robotics market including the current and future trends for depicting the prevalent investment pockets in the market.
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The information related to key drivers, restraints, and opportunities and their impact on the space robotics market is provided in the report.
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The competitive analysis of the market players along with their market share in the market is mentioned.
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The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
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The value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
Space Robotics Market Key Segments
By Solution
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Remotely Operated Vehicle
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Remote Manipulator System
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Software
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Services
By Application
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Deep Space
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Near Space
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Ground
By Organization Type
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Government
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Commercial
By Geography
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North America
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US
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Canada
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Mexico
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Europe
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France
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Germany
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UK
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Italy
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Spain
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Netherlands
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Rest of Europe
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Asia Pacific
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China
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Japan
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India
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South Korea
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Australia
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Taiwan
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Vietnam
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Rest of Asia Pacific
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Rest of the World
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Latin America
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Middle East
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Africa
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Key Players
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Oceaneering International, Inc.
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Maxar Technologies
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Northrop Grumman
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Astrobotic Technology
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Motiv Space Systems, Inc.
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Altius Space Machines
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SpaceX
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Honeybee Robotics
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Intuitive Machines, Llc
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Olis Robotics
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Analysis Period |
2021–2030 |
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Base Year Considered |
2021 |
|
Forecast Period |
2022–2030 |
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Market Size Estimation |
Billion (USD) |
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Market Segmentation |
By Solution (Remotely Operated Vehicle, Remote Manipulator System, Software and Services), by Application (Deep Space, Near Space & Ground), and by Organization Type (Government and Commercial) |
|
Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (France, Germany, UK, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Taiwan, Vietnam, Rest of Asia Pacific), Rest of the World (Latin America, Middle East, Africa) |
|
Companies Profiled |
Oceaneering International, Inc., Maxar Technologies, Northrop Grumman, Astrobotic Technology, Motiv Space Systems, Inc., Altius Space Machines, SpaceX, Honeybee Robotics, Intuitive Machines, LLC, and Olis Robotics. |
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