Space Robotics Market Growth 2023 Along with Business Insights and Forecast to 2030 by Key Players | Oceaneering International, Northrop Grumman, Astrobotic, Metecs

The global space robotics market size reached USD 4.32 Billion in 2021 and is expected to register a revenue CAGR of 4.7% during the forecast period, according to latest analysis by Emergen Research. Increasing incorporation of Internet of Things (IoT)-enabled smart robotic systems is a key factor driving market revenue growth. Technologies such as Artificial Intelligence (AI) and IoT have significantly boosted speed of development and acceptance of the Internet of Robotic Things (IoRT), which is a robotic process system that enables space robots to communicate safely with other IoT-enabled devices, learn, and develop characteristics such as self-maintenance and self-awareness. In addition, IoRT applications enable space robots to plan, execute, and complete tasks under varying environmental conditions and situations by leveraging the information collected from their own infrastructure and the collective intelligence of robotic things. In addition, technologies such as AI aid robotic devices to operate using learning algorithms and provide cognitive decision-making capabilities. Moreover, converging IoT, AI, and robotics boosts development of IoRT applications that improve awareness and decision-making, thereby resolving complex operations more effectively.     

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Competitive Landscape Analysis

The market survey conducted by Emergen Research offers key trends and challenges in the aerospace and defense industry and their consequent impact on the Space Robotics market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.

It also provides a list of leading players and recent development in the global Space Robotics market. Some of the players in the global Space Robotics market are Oceaneering International, Inc., Northrop Grumman, Motiv Space System, Inc., Metecs, LLC, Maxar Technologies, Intuitive Machines, LLC, Astrobotic Technology, Inc., Altius Space Machines, Motiv Space Systems, Inc., Ispace, Inc., Olis Robotics, and Stinger Ghaffarian Technologies, Inc.

Some Key Findings from the Report:

Solution segment accounted for significant revenue share in 2021. Increasing adoption of robotic subsystems and rising demand for software that enables multiple robot collaborative planning are key factors driving revenue growth of this segment. In addition, significant investments by major companies such as PIAP Space, Olis Robotics, and others in related initiatives and projects is contributing to the revenue growth of this segment. For instance, the TITAN project by PIAP Space aims at advancing and developing a multi-articulated robotic arm for satellite servicing. It will be utilized for the maintenance of deorbiting satellites, thereby removing space debris that might hamper proper functioning of on-orbital satellites.    

Deep Space segment accounted for a significantly large revenue share in 2021. Major investments by domestic and international space research institutes and rapid advancements in robotic technologies such as incorporation of AI and ML, IoT devices, and others play a major role in driving revenue growth of this segment. In addition, increasing participation of private companies such as SpaceX and others has contributed significantly to revenue growth of this segment. Investments being made are primarily for development of products and partnering with international space authorities to provide more cost-effective and advanced solutions. 

Government segment accounted for significantly robust revenue share in 2021. Increasing emphasis on space and satellite technologies for military & defense purposes and applications is a major factor driving market revenue growth in this segment. In addition, government bodies in various countries are supporting as well as funding research & development activities associated with space and robotics, which is further boosting market revenue growth.

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Space Robotics Market Segmentation :

The global space robotics market has been segmented by Emergen Research based on offerings, application, end-use, and region.

 In terms of offerings, the market is categorized into solution, autonomous sensors and systems, robotics and subsystems, software, and others. The market is further segmented based on services, which include satellite servicing, on-orbit assembly, surface mobility, de-orbiting services, and others.

In terms of application, the market is divided into near space, deep space, and ground. The near space application includes space operations, space exploration, space transportation, in-space 3D printing, and others. Deep space application encompasses space transportation, space exploration, and ground applications. These applications highlight the various roles of space robotics in different space environments, including near-Earth operations, deep space missions, and ground-based operations.

The end-use segment of the market includes government, defense departments, space agencies, and others, as well as commercial entities such as private satellite operators and launch service providers. These end-use sectors utilize space robotics for a wide range of purposes, including scientific research, national security, communication, satellite deployment, and commercial ventures.

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Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

• United States
• Europe
• China
• Japan
• Southeast Asia
• India

We can also provide the customized separate regional or country-level reports, for the following regions:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa

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Report Benefits & Key Questions Answered

• Space Robotics Market Analysis: The detailed survey by EMEGEN RESEARCH , examines key factors in the Space Robotics market that affected the growth in the market for the last assessment period 2016-2020, and also studies their consequent impact. It also provides refined sales projections of the Space Robotics market for the forecast period 2023-2030.
• Space Robotics Category & Segment Level Analysis: The category & segment level analysis conducted by EMERGEN RESEARCH studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
• Space Robotics Demand Outlook Analysis: EMERGEN RESEARCH exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Space Robotics  for the assessment period. As per the study, the demand for Space Robotics will grow at a robust CAGR between 2023-2030.
• Space Robotics Company & Brand Share Analysis: A recent study by EMERGEN RESEARCH highlights a comprehensive list of leading market players and stakeholders in the global Space Robotics market. It examines the business execution, cost structure analysis, and supply chain analysis, of Tier 1, Tier 2, and Tier 3 players for the forthcoming decade.
• Space Robotics Market Trend Analysis: The latest study by EMERGEN RESEARCH on the Space Robotics market offers compelling insights into key expansion strategies adopted by top-tier players concerning current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.

Table of Content

Chapter 1. Methodology & Sources

   1.1. Market Definition

   1.2. Research Scope 

   1.3. Methodology

   1.4. Research Sources

         1.4.1. Primary

         1.4.2. Secondary

         1.4.3. Paid Sources

   1.5. Market Estimation Technique

Chapter 2. Executive Summary

   2.1. Summary Snapshot, 2022–2030

Chapter 3. Key Insights

Chapter 4. Space Robotics Market Segmentation & Impact Analysis

   4.1. Space Robotics Market Security Segmentation Analysis

   4.2. Industrial Outlook

         4.2.1. Market indicators analysis

         4.2.2. Market drivers analysis

                   4.2.2.1. Increasing collaboration and significant investments by major market companies

                   4.2.2.2. Increasing demand for lightweight commercial space vehicles

                   4.2.2.3. Rapid advancement in space technologies

                   4.2.2.4. Rising support from government bodies

         4.2.3. Market restrains analysis

                   4.2.3.1. High cost associated with manufacturing and maintenance of space robots

                   4.2.3.2. Concerns related to privacy and security of data

   4.3. Technological Insights

   4.4. Regulatory Framework

   4.5. Porter’s Five Forces Analysis

   4.6. Competitive Metric Space Analysis

   4.7. Price trend Analysis

   4.8. Covid-19 Impact Analysis

Continue ….

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