Overview and Scope
Space robotic solutions refer to robotic systems and technologies for various tasks and operations related to space exploration, satellite servicing, and other space missions. It is crucial for space missions to perform complex and dangerous activities that are impossible for humans to accomplish directly. They are used for assembling and maintaining spacecraft, repairing satellites, capturing and relocating objects in space, exploring planetary surfaces, and conducting scientific experiments.
Sizing and Forecast
The space robotic solutions market size has grown rapidly in recent years. It will grow from $4.11 billion in 2023 to $4.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to increasing demand for satellite deployment and servicing, growing interest in space exploration and colonization, need for cost-effective and efficient space missions, enhancement of satellite maintenance and repair capabilities, expansion of commercial space activities and applications, improving space infrastructure and sustainability, rising collaborations between space agencies and private companies.
The space robotic solutions market size is expected to see strong growth in the next few years. It will grow to $6.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to expansion of space tourism and commercial space travel, demand for asteroid mining and space resource utilization, adoption of robotics for planetary exploration and colonization, growth of satellite constellations for global connectivity, focus on space debris removal and space traffic management. Major trends in the forecast period include adoption of robotic systems for satellite servicing, expansion of autonomous missions for asteroid mining, integration of ai and machine learning, growth in demand for on-orbit assembly, adoption of swarm robotics, integration of advanced sensors, innovation in technology.
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Segmentation & Regional Insights
The space robotic solutions market covered in this report is segmented –
1) By Solution: Remotely Operated Vehicles, Remote Manipulator System, Software, Services
2) By Application: Deep Space, Near Space, Ground
3) By End User: Commercial, Government
North America was the largest region in the space robotic solutions market in 2023. The regions covered in the space robotic solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising number of satellite launches and space missions is expected to propel the space robotic solutions market going forward. Satellite launches and space missions refer to the activities related to deploying satellites into orbit around the Earth or other celestial bodies. The increasing number of satellite launches and space missions is driven by growing demand for telecommunications, Earth observation, scientific research, and commercial opportunities. Satellite launches and space missions employ space robotic solutions for satellite assembly, maintenance, and debris removal, enhancing mission flexibility and extending spacecraft operational lifetimes. For instance, according to the United Nations Office for Outer Space Affairs (UNOOSA), an Austria-based international cooperation agency, the number of individual satellites orbiting the Earth in 2022 reached 8,261, marking an 11.84% increase compared to 2021. Further, by the end of January 2022, around 12,293 satellites had been launched into space. Therefore, the rising number of satellite launches and space missions is driving the growth of the space robotic solutions market.
Key Industry Players
Major companies operating in the space robotic solutions market are Northrop Grumman Corporation, Oceaneering International Inc., Maxar Technologies Inc., iRobot Corporation, MDA Space and Robotics Ltd., Redwire Corporation, Astroscale Holdings Inc., Intuitive Machines LLC., AMP Robotics Corp., Olis Robotics Inc., D-Orbit SpA, Tethers Unlimited Inc., ClearSpace SA, Exyn Technologies Inc., Astrobotic Technology Inc., Tethers Unlimited Inc., Space Applications Services NV/SA, Metecs LLC., BluHaptics Inc., Motiv Space Systems Inc., Altius Space Machines Inc., Bradford Space Inc., Kubos Corporation, Oceaneering Space Systems Inc., Ubotica Technologies Ltd.
The space robotic solutions market report table of contents includes:
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