Space Robotics Market Size By Solution (Product [Rovers/Landers, Probes, Arms/Manipulator Systems], Software, Services), By Application (Deep Space [Space Exploration, Space Transportation], Near Space [Space Exploration, Space Transportation]), By End-Use (Commercial, Government), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

Space Robotics Market size surpassed USD 2 billion in 2020 and is anticipated to grow at over 6% CAGR between 2021 and 2027. Increasing government projects and investments related to space research & exploration in several countries are driving the industry growth.
 

The benefits including better productivity, cost-effectiveness, and the ability to perform in risky situations efficiently as compared to human substitutes is likely to augment the market demand. The launch of several satellites and spaceships working in deep & spaces requires timely maintenance & repairing, creating the need for highly efficient space robotic systems.
 

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The growing chip manufacturing industry will accelerate technological advancements in the space robotics. Companies are focusing on research activities in the field of aerospace, on account of the rising demand. For instance, in August 2021, Samsung Group announced an investment of around USD 205 billion in its semiconductor, telecommunications and biopharmaceuticals units in a timeframe of three years. The company is focused on developing an advanced process technology with the help of AI and data centers for its semiconductors, utilized for several applications.
 

The major factor challenging the growth of the space robotics market is the lack of control over outer space calamities. In outer space, several calamities, such as asteroids, gamma ray bursts, solar flare, space debris, and supernova, can occur & damage the machinery. This factor can impact the operational activities of the entire infrastructure and can potentially disrupt the process.
 

The market was negatively impacted in 2020 due to stringent lockdowns imposed by government organizations, resulting in the stagnancy in industrial activities. The temporary shutdown of manufacturing plants, industrial facilities, and R&D centers hampered the industry supply chains. The supply-chain disturbances caused delays in new solution launches and the development of rovers, satellites, and interplanetary missions. With the gradual streamlining of the global supply chains, the companies will focus on resuming R&D operations.
 

Rising adoption of rovers/landers and robotics arms for space exploration

The product segment held nearly 50% of the space robotics market share in 2020. Increasing initiatives by market leaders to study the surfaces of nearby planets & their satellites are fueling industry size for rovers & landers. For instance, in May 2021, General Motors and Lockheed Martin teamed up to develop lunar rovers for NASA. These rovers will be equipped with features, such as hazardous terrain capabilities and autonomous driving, creating market opportunities.
 

Exploration of asteroids near to earth surface

The near space application is forecast to register growth rate of above 6% through 2027. The rising demand for communication satellites for robust wireless network connectivity on earth is propelling the near space exploration activities. Furthermore, the high emphasis of researchers on studying the asteroids nearer to the earth atmosphere will spur the space robotics industry.
 

Shifting focus of various governments toward improving their space programs

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The government end use captured about 70% of the revenue share in 2020. Growing government investments in space exploration activities are contributing significantly to the industry statistics.

Countries including the UK, the U.S., China, India, and Japan are focusing on developing advanced space robotics systems to strengthen the performance of their probes & satellites. For instance, in July 2021, ISRO announced to launch the Chandrayaan-3 lunar mission by the third quarter of 2022 to study the surface of lunar. This mission will play a vital role in exploring the dark side of the Moon, which is expected to possess vast resources of water and minerals.
 

High focus on R&D associated with space robotics in North America

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The North America space robotics market size accounted for around USD 1 billion in 2020. Space agencies in the region are focusing on driving innovations to support different space missions. For instance, the National Aeronautics and Space Administration (NASA) is conducting its space robotics challenges since 2017 to advance robotics autonomous and software capabilities. In September 2021, the organization was awarded prize packages of up to USD 535,000 to seven different teams for developing codes to coordinate with robots.
 

Market players focusing on securing high value government space contracts

The prominent space robotics market players include Altius Space Machines, Inc., Astrobotic Technology, Inc., GITAI Inc., MAXAR Technologies, Inc., Motiv Space Systems, Stinger Ghaffarian Technologies, Oceaneering International, SpaceX, Honeybee Robotics Ltd, Space Applications Services, and Northrop Grumman.
 

Space robotics solution providers are emphasizing on developing new robotics arms for robust material handling & payload deployment in space stations and on satellites to enhance their market position. Commercial space robotics companies are also taking initiatives to expand their partnership with government aided space agencies for significant revenue growth.
 

This market research report on space robotics includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Solution

• Product
  • Rovers/Landers,
  • Probes,
  • Arms/Manipulator Systems
• Software
• Services

Market, By Application

• Deep Space
  • Space Exploration
  • Space Transportation
• Near Space
  • Space Exploration
  • Space Transportation

Market, By End-use

• Commercial
• Government

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
• MEA
  • Israel
  • South Africa