Global Space Robotics Market is Estimated to be USD 2.88 Billion in 2018 and is Projected to Reach USD 4.36 Billion by 2023, at a CAGR of 8.64%
DUBLIN, Dec. 14, 2018 /PRNewswire/ --
The "Space Robotics Market by Solution, Services (Satellite Servicing, On-orbit Assembly & Manufacturing, De-orbiting Services, Re-supply, Surface Mobility, & Launch Support), Application, End-User, and region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Space Robotics Market is Estimated to be USD 2.88 Billion in 2018 and is Projected to Reach USD 4.36 Billion by 2023, at a CAGR of 8.64%
The growth of the space robotics market is driven by several factors, including the growing demand for servicing existing geostationary satellites, debris removal, and technological advancements in autonomous systems, and the increasing demand for on-orbit manufacturing and assembly in the International Space Station (ISS) from government agencies and commercial entities.
Based on solution, the satellite servicing segment is estimated to lead the space robotics market in 2018. The growth of the satellite servicing segment can be attributed to the increasing demand and requirement for space-based services, such as satellite servicing, de-orbiting services, surface mobility, and resupply services.
Based on application, the near space segment of the space robotics market is expected to grow at the highest CAGR during the forecast period. Growth of the near space segment can be attributed to the demand for resupply missions for the International Space Station (ISS), on-orbit satellite manufacturing, and increasing need to service the existing geosynchronous satellites.
Based on end user, the commercial segment of the space robotics market is projected to grow at a higher CAGR, as compared to the government segment, during the forecast period due to the growing demand for satellite servicing, refueling and mission extension services which offer opportunities for satellite operators/owners by extending the life of satellites and thus generate revenue from existing satellite fleets, and provide greater flexibility in managing in-orbit satellite fleets.
North America is estimated to account for the largest share of the space robotics market in 2018. This can be attributed to the high demand for space robotics activities from prominent organizations, such as NASA and the Department of Defense due to the increasing reliance on space assets and for enabling safety in space operations.
Regulatory implementations by various space regulatory authorities is the major factor expected to restrain the growth of the space robotics market.
Some of the major players operating in the space robotics market include Maxar Technologies (US), Motiv Space Systems (US), Altius Space Machines (US), Northrop Grumman (US), Honeybee Robotics (US), Astrobotic Technology (US), Made In Space (US), and Effective Space Solutions Limited (Israel).
These key players offer various space robotics products and services. New product developments, partnerships, and contracts are the major growth strategies adopted by these players to strengthen their positions in the space robotics market.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.4 Currency & Pricing
1.5 Limitations
1.6 Market Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in the Space Robotics Market
4.2 Space Robotics Market for Services, By Type
4.3 Space Robotics Market in Near Space Application, By Function
4.4 Space Robotics Market for Commercial End User, By Type
4.5 Space Robotics Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Significant Investments in Research and Development By Private Firms Leading to Rising Number of Space Exploration Missions
5.2.1.2 Increasing Levels of Robotic Autonomy
5.2.1.3 Rising Demand for GEO Satellites Across the Globe
5.2.1.4 Growing Space Congestion Due to the Increasing Number of New Satellite Launches
5.2.2 Restraints
5.2.2.1 Legal and Regulatory Issues
5.2.3 Opportunities
5.2.3.1 Rising Demand for On-Orbit Satellite Servicing
5.2.3.2 Entry of Private Companies in the Space Robotics Industry
5.2.3.3 Technological Upgradations in Space Industry Leading to the Development of Low-Cost Space Systems
5.2.4 Challenges
5.2.4.1 Scarcity of Intellectual Assets in Many Countries
5.2.4.2 Technical Challenges
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Technology Trends
6.3.1 Artificial Intelligence (AI) in Space Robotics
6.3.2 3d Printing
6.3.3 Sensor Integration Technology
6.3.4 Development of Small Satellites Using Additive Manufacturing Process
6.3.5 Space Robot Technology
6.4 Emerging Trends
6.4.1 Space Debris Removal
6.4.2 Satellite Constellations
6.4.3 Planetary Protection Technologies
6.5 Venture Capital Funding
6.5.1 Innovations & Patent Registrations
7 Space Robotics Market, By Solution
7.1 Introduction
7.2 Services
7.2.1 On-Orbit Assembly & Manufacturing
7.2.2 Satellite Servicing
7.2.3 De-Orbiting Services
7.2.4 Re-Supply
7.2.5 Surface Mobility
7.2.6 Launch Support
7.3 Products
7.3.1 Robotics & Subsystems
7.3.1.1 Rovers/Spacecraft Landers
7.3.1.2 Space Probes
7.3.1.3 Robotic Servicing Vehicles
7.3.1.4 Gripping & Docking Systems
7.3.1.5 Robotic Arms/Manipulator Systems
7.3.1.6 Deorbiting Robots/Systems
7.3.1.7 Crawler-Transporters
7.3.2 Sensors & Autonomous Systems
7.3.3 Software
7.3.4 Others
8 Space Robotics Market, By Application
8.1 Introduction
8.2 Deep Space
8.2.1 Space Exploration
8.2.2 Space Transportation
8.3 Near Space
8.3.1 In-Space 3d Printing
8.3.2 Space Operations/Scientific Experimentation
8.3.3 Space Exploration
8.3.4 In-Space Maintenance & Inspection
8.3.5 Space Transportation
8.4 Ground
9 Space Robotics Market, By End User
9.1 Introduction
9.2 Commercial
9.2.1 Satellite Operators/Owners
9.2.2 Launch Service Providers
9.2.3 Others
9.3 Government
9.3.1 Space Agencies
9.3.2 Departments of Defense (DOD)
9.3.3 Others
10 Regional Analysis
10.1 Introduction
10.1.1 North America
10.1.2 US
10.1.3 Canada
10.2 Europe
10.2.1 Russia
10.2.2 France
10.2.3 Germany
10.2.4 UK
10.2.5 Italy
10.2.6 Rest of Europe
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 South Korea
10.3.5 Rest of Asia Pacific
10.4 Rest of the World
10.4.1 Middle East
10.4.2 South America
10.4.3 Africa
11 Competitive Landscape
11.1 Introduction
11.2 Competitive Analysis
11.3 Market Ranking Analysis
11.4 Competitive Scenario
11.4.1 Contracts
11.4.2 Partnerships
11.4.3 Acquisitions
11.4.4 Expansions
12 Company Profiles
12.1 Altius Space Machines
12.2 Astrobotic Technology
12.3 Olis Robotics
12.4 Effective Space Solutions
12.5 Honeybee Robotics
12.6 Ispace
12.7 Made in Space
12.8 Maxar Technologies
12.9 Metecs
12.10 Northrop Grumman
12.11 Motiv Space Systems
12.12 Stinger Ghaffarian Technologies (SGT)
12.13 Space Applications Services
For more information about this report visit https://www.researchandmarkets.com/research/54dmbt/global_space?w=5
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