Global Space Robotics Market Overview:
Space robotics refers to the use of general purpose machines which are capable of performing space exploration, assembly, maintenance, construction, servicing, and other tasks related to the space environment. Increasing government initiatives for space exploration activities propelling the growth of space robotics market. For instance, the National Aeronautics and Space Administration (NASA) is launching the Astrobee Robots to Space Station with propulsion system consists of a pair of impellers and components comprises of multiple cameras, a touch screen, laser pointer, and lights. In addition, the emergence of artificial intelligence for the space robotics expected to drive the demand for space robotics market over the forecasted period. Some of the players profiled in the study are Maxar Technologies (United States), Motiv Space Systems (United States), Altius Space Machines (United States), Northrop Grumman (United States), Honeybee Robotics (United States), Astrobotic Technology (United States), Made In Space (United States), Effective Space Solutions Limited (United Kingdom), Ispace (United States) and Space Applications Services (Belgium). According to Market Analyst at AMA, the Global Space Robotics market may see a growth rate of 8.73%
On the basis of geography, the market of Space Robotics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services , the sub-segment i.e. On-orbit Assembly & Manufacturing will boost the Space Robotics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Government Space Agencies will boost the Space Robotics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Government Initiatives for Space Exploration Activities
- Emphasizing on Space Automation Technologies
Influencing Trend
- Emergence of Artificial Intelligence (AI) in Space Robotics
- Emphasizing On Technological Developments to Develop Cost-Effective Solutions for Space Robotics
Restraints
- Stringent Government Regulation for Space Exploration Activities
- High Cost Associated With Space Mining
Opportunities
- Increasing Demand for On-Orbit Satellite Servicing
- High Growth Prospects in Emerging Economies Owing to Rise in Space Exploration Activities
Challenges
- Technical Issues Associated With Space Robotics
Key Market Developments:
4th April 2019, National Aeronautics and Space Administration (NASA) building an inflatable space robot named King Louie. It is made up of bags of air, surrounded by a strong fabric shell and its movement is controlled inflating or deflating different chambers in its limbs.
“According to the Institute of Electrical and Electronics Engineers (IEEE), the Space Robotics Technical Committee has two main areas of interest, Microgravity, and Planetary Robotics. Microgravity Robotics includes manipulation and mobility for scenarios such as International Space Station (ISS) operations and satellite servicing. Planetary Robot systems address scenarios such as Mars and lunar exploration using manipulation or mobility on or near the surface. Some scenarios, such as asteroid and comet exploration, have environments with low gravity which may blur the distinctions between these categories.”
Target Audience:
Space Regulatory Authorities, Space Agencies, Space Research Institutes, Space Insurance Organizations, Spacecraft Operators, Market Research and Consulting Firms, Governments and Financial Institutions and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Space Robotics market on the basis of product [Robotics and Subsystems, Sensors and Autonomous Systems, Software and Others] , application [Deep Space [Space Transportation, Space Exploration], Near Space [In-space 3D Printing, Space Operations/Scientific Experimentation, Space Transportation, Space Exploration, In-space Maintenance & Inspection] and Ground], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Space Robotics market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Space Robotics industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Metecs (United States) and Olis Robotics (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Space Robotics market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.