The global space robotics market size is expected to reach USD 5.71 billion by 2027, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Space robotics is gaining traction in recent years owing to the growing exploration of outer space; the need for operations & maintenance of satellites, space stations, and other platforms; and the need for saving cost and mitigating safety issues. Furthermore, the rising trend of using autonomous systems and Artificial Intelligence (AI) technology in robotics is widening the horizon of space exploration.
Several
countries are launching multiple spaceship and satellite programs for near and
deep space exploration, which requires timely maintenance and repairs, creating
the need for advanced robotics systems. Renowned space organizations, such as
the National Aeronautics and Space Administration (NASA), the European Space
Agency (ESA), the Canadian Space Agency (CSA), and the Japan Aerospace
Exploration Agency (JAXA), are developing humanoid robots for their space programs
to perform transportation, maintenance, and servicing operations, relieving
crew from dangerous tasks. Moreover, the rising number of unmanned space
missions are fueling the demand for space robots.
Space
robotics provides greater access and operational handing capabilities in space.
Moreover, the robots can help astronauts perform several cognitive tasks in the
space station. Due to their larger application scope, robots are deemed
relevant across all the mission phases, such as launch, operation, development,
and flight system production. The rising number of scientific space research
programs also boosts the demand for advanced robots with Machine Learning (ML)
capabilities. Machine learning improves the autonomous functions of robots,
such as sensing, planning, and navigation. The technology also helps in
diversifying locomotion and increasing the autonomy level of space robotic
arms. The scope of space robots is expected to shift toward robotic explorers
and robotic assistance in the coming years.
Europe
has been very active in the development of space robotics technology. The ESA
is developing the European Robotic Arm (ERA), which is to be installed on the
Russian segment of ISS. Moreover, the Luxembourg Space Agency (LSA) is
developing a low-cost and scalable robotic arm for low-orbit satellite
programs. The LSA is keen on building a space resource industry in the country.
In 2019, the Luxembourg Government signed a memorandum of understanding with
NASA to work on space programs jointly. These initiatives are expected to
propel the market growth over the forecast period.
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Space Robotics
Market Report Highlights
- The Remotely
Operated Vehicles (ROVs) segment is expected to register the fastest CAGR
over the forecast period owing to the increasing demand for autonomous
robots in the space industry
- The
deep-space segment is estimated to be the fastest-growing application from
2020 to 2027 owing to the growing emphasis on outer space exploration
programs
- The
government segment led the market in 2019 and is expected to retain the
dominant position throughout the forecast years as government
organizations, such as NASA, JAXA, ESA, and CSA, are collaborating with
private companies owing to their robust R&D capabilities
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Space Robotics
Market Segmentation
Grand View Research has
segmented the global space robotics market on the basis of solution,
application, organization type, and region:
Space Robotics
Solution Outlook (Revenue, USD Million, 2016 - 2027)
- Remotely Operated Vehicles (ROV)
- Rovers/Spacecraft Landers
- Space Probes
- Others
- Remote Manipulator System (RMS)
- Robotic Arms/Manipulator Systems
- Gripping & Docking Systems
- Others
- Software
- Services
Space Robotics
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Deep Space
- Space Transportation
- Space Exploration
- Others
- Near Space
- Space Transportation
- Space Exploration
- In-space Maintenance
- Others
- Ground
Space Robotics
Organization Type Outlook (Revenue, USD Million, 2016 - 2027)
- Commercial
- Government
Space Robotics
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
List of Key
Players of Space Robotics Market
- Altius Space
- Astrobotic Technology, Inc.
- BluHaptics, Inc. (Olis Robotics)
- Honeybee Robotics
- Intuitive Machines, LLC
- Maxar Technologies
- Metecs, LLC
- Motiv Space Systems, Inc.
- Northrop Grumman Corp.
- Oceaneering International, Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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