Space Robotics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Dec 2020 | No. of Pages : 250 Pages | Category : ICT

The global Space Robotics market size is expected to be worth around US$ 5.74 billion by 2028, according to a new report by Vision Research Reports.

The global Space Robotics market size was valued at US$ 3.91 billion in 2020 and is anticipated to grow at a CAGR of 5.4% during forecast period 2021 to 2028.

Growth Factors

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 (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 (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.

Report Highlights

The services segment led the market in 2020 and accounted for the largest revenue share of over 38%. The segment will retain its dominant position; however, the Remotely Operated Vehicles (ROVs) segment is expected to register the fastest CAGR from 2020 to 2027. The ROVs segment is further categorized into rovers/spacecraft landers, space probes, and others. 

The Remote Manipulator System (RMS) segment is expected to register a significant growth rate over the forecast period. RMS can retrieve, deploy, and handle satellite payloads and assist astronauts in maintenance activities. The growing demand for space-based services, such as satellite servicing, surface mobility, de-orbiting services, and re-supply services, are expected to propel the RMS segment growth. RMS is further segmented into robotic arms/manipulator systems, gripping & docking systems, and others. Robotic arms are poised to witness significant growth in advanced space systems as they are used for assisting astronauts in lifting and handling heavy objects in space. Canadarm and Dextre are the two robotic arms that are presently attached to ISS.

The near-space application segment accounted for the highest revenue share of over 43% in 2020. Near space or orbital robots can be used for repairing satellites, assembling large space telescopes, and deploying assets in space for scientific exploration. The near-space segment is further segmented into space transportation and exploration, in-space maintenance, and others. The space transportation segment is expected to exhibit a strong growth rate over the forecast period owing to the demand for resupply for the ISS and servicing the existing geosynchronous satellites.

The deep-space segment is expected to register the maximum CAGR over the forecast period. Deep space robots or planetary robots play a vital role in observing, surveying, and extracting extra-terrestrial surfaces. The robotic system is crucial for deep space exploration programs to extend human reach into space, expand planetary access capabilities, and enhance human operation efficiency by supporting the astronaut crew in the space operations. Exploration robots, autonomous spacecraft, human-assistive robots, and piloted aircraft are some of the robotic systems that are gaining momentum in the market.

The government segment captured the largest revenue share of over 84% in 2020. Several R&D activities and satellite launches for defense & security purposes are escalating the demand for robotics technologies in this segment. Moreover, increasing emphasis on space and satellite technology for military & defense activities is driving the segment growth. Various governments are also funding R&D activities related to space and robotics applications. 

The commercial segment is estimated to register the fastest CAGR from 2020 to 2027 as commercial investments in space missions is increasing gradually. Private companies are continuing their successful mission to low Earth orbit, providing space transportation and space & flight support to International Space Station. The surge in demand for satellite servicing, refueling, and mission extension services provides new business opportunities to private companies.  Moreover, NASA is planning to end direct federal funding for the ISS by 2025 and adopt a commercial approach associating several commercial partners to the Moon and Mars mission. The government of India announced the formation of the Indian National Space Promotion and Authorization Centre (IN-SPACe) to promote and guide private companies in space business through favorable policies and encouraging regulatory environment. As a result, a new business model and space capabilities are expected to emerge in the private sector.

Key Players

  • 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.

Market Segmentation

  • Solution Outlook 

    • Remotely Operated Vehicles (ROV)

      • Rovers/Spacecraft Landers

      • Space Probes

      • Others

    • Remote Manipulator System (RMS)

      • Robotic Arms/Manipulator Systems

      • Gripping & Docking Systems

      • Others

    • Software

    • Services

  • Application Outlook 

    • Deep Space

      • Space Transportation

      • Space Exploration

      • Others

    • Near Space

      • Space Transportation

      • Space Exploration

      • In-space Maintenance

      • Others

    • Ground

  • Organization Type Outlook 

    • Commercial

    • Government

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

The Space Robotics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Space Robotics market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Space Robotics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Space Robotics market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Space Robotics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Space Robotics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Space Robotics by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Space Robotics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Space Robotics market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Space Robotics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Space Robotics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Space Robotics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Space Robotics market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Space Robotics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Space Robotics market. These factors have benefited the growth of the global market for Space Robotics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Space Robotics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Space Robotics are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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