Global Space Robotics Market
Aerospace and Defense

Global Space Robotics Market Analysis: Size, Drivers, Trends, Opportunities And Strategies

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033



Market Overview

  • Current Size and Growth:
    • 2023: $4.6 billion
    • 2024: $4.94 billion (CAGR: 7.3%)
  • Forecast:
    • 2028: $6.66 billion (CAGR: 7.8%)

Key Drivers of Historical Growth

  • Space Exploration Initiatives:
    • Government and private sector involvement
  • Advancements in AI and Automation:
    • Enhanced capabilities and efficiency
  • Commercial Space Industry Expansion:
    • Increased private sector participation
  • Rise of Private Space Companies:
    • Innovations and competitive advancements

Read The Full Space Robotics Market Report Here:

Future Growth Prospects

Factors Contributing to Growth

  • Increased Space Exploration Missions:
    • Ongoing and future missions boosting demand
  • Commercial Space Industry Growth:
    • Expanding market opportunities
  • Space Mining Opportunities:
    • New frontier for resource extraction
  • Satellite Constellations Deployment:
    • Demand for deployment and maintenance
  • Planetary Colonization Initiatives:
    • Long-term habitation projects

Major Trends

  • Miniaturization and Efficiency:
    • Smaller, more efficient robotic systems
  • Autonomy and AI Integration:
    • Advanced autonomous capabilities
  • Modular and Adaptable Systems:
    • Flexible solutions for various missions
  • Interplanetary Exploration Focus:
    • Increased missions beyond Earth’s orbit
  • On-Orbit Servicing Demands:
    • Maintenance and repair of existing satellites

Investment Surge in Space Missions

Impact on Space Robotics

  • Investment Growth:
    • Increased funding for space exploration and development
  • Technological Advances:
    • More investment in space robotics technologies
  • Example:
    • European Space Agency’s 17% budget increase in 2022
    • Support for Earth Observation Programme (€2.7 billion)

Major Companies in the Space Robotics Market

  • Northrop Grumman Corporation
  • Altius Space Machines Inc.
  • Astrobotic Technology Inc.
  • Honeybee Robotics Ltd.
  • Maxar Technologies Inc.
  • Motiv Space Systems Inc.
  • Oceaneering International Inc.
  • And many more

Research and Development Focus

Key Trends in R&D

  • Product Innovations:
    • Strengthening market positions through R&D
  • Example:
    • PickNik Inc. awarded NASA SBIR funding in June 2021
    • Developing advanced planning capabilities for robots in microgravity

Notable Acquisition

  • Blue Origin Acquires Honeybee Robotics:
    • January 2022 acquisition to expedite space exploration goals
    • Honeybee Robotics: Specializes in space resource exploration robotics

Market Segmentation

By Solution

  • Remotely Operated Vehicles
  • Remote Manipulator System
  • Software
  • Services

By Application

  • Deep Space
  • Near Space
  • Ground

By End-User

  • Commercial
  • Government

Regional Insights

Leading and Emerging Markets

  • North America:
    • Largest region in 2023
  • Asia-Pacific:
    • Expected to be the fastest-growing region during the forecast period

Get A Free Sample On The Global Space Robotics Market Report:

The Space Robotics Global Market Report 2024  provides an overview of the space robotics market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The space robotics market forecast analyzes space robotics market size, space robotics market share, leading competitor and their market positions.

The Table Of Content For The Space Robotics Market Include:

1. Space Robotics Market Executive Summary
2. Space Robotics Market Segments
3. Space Robotics Market Size And Space Robotics Market Growth Rate
4. Key Space Robotics Market Trends
5. Major Space Robotics Market Drivers
25. Key Mergers And Acquisitions In The Space Robotics Market
26. Top Space Robotics Companies
27. Space Robotics Market Opportunities And Strategies
28. Space Robotics Market, Conclusions And Recommendations
29. Appendix

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