DUBLIN, October 22, 2021--(BUSINESS WIRE)--The "Space Robotics Market by Solution, by Application, and by Organization Type - Global Opportunity Analysis and Industry Forecast 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The Space Robotics Market size was valued at USD 2.54 billion in 2020 and is predicted to reach USD 7.60 billion by 2030 with a CAGR of 11.9% from 2021-2030.
Space robots are specially designed for space missions and exploration activities. They are capable of withstanding extreme space condition and can perform activities such as assembly, maintenance, and repair of spatial satellites, among others. There are two major types of space robots such as remotely operated vehicles (ROV) and remote manipulator system (RMS). These robots expand the capabilities of astronauts in space by providing them greater handling capacity.
Increase in number of space research & exploration projects, need for proper maintenance and servicing of existing satellites, and on-orbit assembly are the factors driving the demand for space robotics market. Space robots are used for successful execution of space programs, such as on-orbit manufacturing in the International Space Station (ISS) and lunar surface innovation initiative by National Aeronautics and Space Administration (NASA). Also, huge investments by private companies as well as by government organizations are fuelling the growth of space robotics market. For instance, the European Space Agency (ESA) has been preparing technology roadmaps in space robotics by funding multiple projects, such as PERASPERA and SpacePlan 2020. The PERASPERA project aims to develop a comprehensive master plan for space robotics within 2023-2024 timeframe. Similarly, NASA has been working on its space technology roadmap to 2035 and identified several robotics areas for the same.
However, high initial & maintenance cost, and limited technological know-how are factors expected to restrain the space robotics market growth to some extent. On the contrary, technological developments and rise in the use of autonomous systems in space are expected to create ample growth opportunities for the market in the coming years.
The space robotics market 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 space robotics market has been segmented into deep space, near space and ground. Based on 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.
The report offers quantitative analysis of the current space robotics market and estimations through 2020-2030, that assists in identifying the prevailing market opportunities to capitalize on.
The study comprises a deep dive analysis of the space robotics market trend including the current and future trends for depicting prevalent investment pockets in the space robotics industry.
The report contains information related to key drivers, restraints and opportunities and their impact on the space robotics market.
The report includes key market players, market share, which helps understand their competitive analysis.
The competitive analysis of the market players along with their market share in the space robotics market.
The SWOT analysis and Porter's Five Forces model is elaborated in the study.
Key Topics Covered:
2. Market Snapshot, 2019-2030 Million USD
3. Porter's Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
5. Global Space Robotics Market, by Solution
5.2. Remotely Operated Vehicle
5.3. Remote Manipulator System
6. Global Space Robotics Market, by Application
6.2. Deep Space (Space Transportation. Space Exploration, Others)
6.3. Near Space (Space Transportation. Space Exploration, Others)
7. Global Space Robotics Market, by Organization Type
8. Global Space Robotics Market, by Region
8.2. North America
8.5. Rest of World
9. Company Profiles
9.1. Oceaneering International, Inc.
9.2. Maxar Technologies
9.3. Northrop Grumman
9.4. Astrobotic Technology
9.5. Motic Space Systems Inc.
9.6. Altius Space Machines
9.8. Honeybee Robotics
9.9. Intuitive Machines LLC
9.10. Olis Robotics
For more information about this report visit https://www.researchandmarkets.com/r/ujkmfn
View source version on businesswire.com: https://www.businesswire.com/news/home/20211022005294/en/
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