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Space Robotics Market by Solution, Services, Application, End-User And region - Global Forecast to 2023

Space Robotics Market: Global Forecast until 2023

  • October 2018
  • 129 pages
  • ID: 5586654
In this report:
The space agencies subsegment is expected to account for the largest share of ##.##% of the military segment in 2018.
For instance, in July 2018, Maxar Technologies (now MDA) received a contract worth USD ##.## million from the UK Space Agency to develop edge space robotics capabilities for the country.
The space robotics solution market for commercial end use in North America is estimated to account for the largest share of ##.##% in 2018.

Summary

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Increasing importance of on-orbit satellite servicing, on-orbit manufacturing and assembly in space and focus of government agencies and commercial entities on space robotic solutions are driving the space robotics market.

The space robotics market is projected to be ~$2.9B in 2018 and is projected to extend ~$4.4B by 2023, at a compound annual growth rate (CAGR) of ~8.6 percent from 2018 to 2023. Increased investments in space exploration missions, rising demand for geostationary satellite servicing, and on-orbit manufacturing and assembly, debris removal and technological improvements in autonomous systems are top factors anticipated to drive the rise of the space robotics market. Increase can also be attributed to the growing demand for space robotics solutions from commercial, government, institutions, space agencies, defense organizations, and satellite operators as well as NewSpace firms.

Commercial end user segment is forecasted to account for the most important share of the space robotics market in 2018

Established on end-user, the commercial segment is expected to account for the biggest share of the space robotics market in 2018.Increasing demand for extending the lifetimes of existing geostationary satellites are anticipated to lead to the high demand for space robotics.

Another factor providing to the rise of the commercial segment is the large demand for on-orbit manufacturing and assembly operations, and robotic solutions for space exploration activities.

The space robotics market in North America (NA) is anticipated to grow at the highest CAGR (Compound annual growth rate) during the estimate period

The space robotics market in North America continent is expected to grow at the highest compound annual growth rate (CAGR) during the outlook period.This high increase can be accredited to focused efforts of space firms on developing space robotics, growing US commercial/government reliance on space assets, and rising space exploration activities in the USA and Canada (CA).

Advancements in space autonomous technology and demand for space robotics for space operations are factors driving the North America space robotics market.

Break-up of profiles of primary members taking part in the space robotics market:

• By Company category: Tier 1 - 35.0 percent, Tier 2 - 45.0 percent, and Tier 3 - 20.0 percent

• By Description: C Level Executives- 35.0 percent, D-Level- 25.0 percent, and Others - 40.0 percent

• By Area: North America (NA) - 45.0 percent, EU - 20.0 percent, Asia-Pac - 30.0 percent, Rest of the globe - 5.0 percent

Maxar Technologies, Motiv Space Systems, Altius Space Machines, Northrop Grumman, Honeybee Robotics, Astrobotic Technology, Made In Space, and Effective Space Solutions Limited are some of the main actors in the space robotics market.

Segment Research

The study examines the space robotics market based on solution, application, final user, and area.Established on solution, the sector has been split into product and services.

The product segment has been further divided into robotics and subsystems (rovers, space probes, robotic servicing vehicles, gripping and docking systems, robotic arms/manipulator system, deorbiting robots/systems and crawler-transporter), sensors and autonomous systems, software, and services segment (on-orbit assembly and manufacturing, satellite servicing, de-orbiting services, surface mobility, launch support services and resupply).Established on application, the space robotics market has been divided into the deep space segment (space transportation, and space exploration), near space (in-space 3D printing, space operations/scientific experimentation, space transportation, space exploration and in-space maintenance & inspection), and ground.

Established on end-user, the industry has been broken down into government and commercial.The government segment has been further divided into space agencies, and departments of defense, among others.

The space robotics market has been studied for North America continent, Europe (EU), Asia Pacific (APAC), and Rest of the globe.

Why acquiring this study can help you:

From an insight prospect, this market research has emphasized different levels of analyses -industry study, market share research of top players, competitive leadership, and company descriptions, which together comprise and examine basic views on the competitive landscape, coming out and the high-development segments in the space robotics market, high-growth areas, and sector drivers, opportunities, and alternatives.

This study furnishes highlights on the following points:

• Market Uptake: Exhaustive data on space robotics solutions provided by the top actors in the sector

• Product Development/Innovative products: In-depth understanding on up-on-coming technologies, analysis & growth activities, and recent product launches in the space robotics market

• Market Development: Highlighted information about lucrative sectors - the market research examines the space robotics market across different regions

• industry diversification: Complete information about recent products, untapped areas, recent evolutions, and market investments in the space robotics market

• opposing assessment: Detailed assessment of market shares, increase strategies, products, and manufacturing competences of key players in the space robotics market

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