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Space Robotics Market Future Opportunity and Growth Analysis Report to 2027

The Space Robotics Market report consists of information related to the projected CAGR of the global industry over the forecast period. Also, the numerous technological developments and innovations that are likely to drive the global market share over the anticipated period are mentioned in the study.


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Sheetal

2 months ago | 3 min read

In a bid to make headway in Space Robotics Market, several countries have upped their investments in space capabilities to comply with the national objectives, including defense strategies and military success, economic growth, development & resource management and diversification.

Several space companies, including defense giants Boeing, Northrop Grumman, and the U.S. aerospace, have maintained significant presence across the globe. Further, high-tech jobs linked with these companies and pioneering countries own space infrastructure have ensured there are commercial opportunities galore in the space industry.

Space robots have become indispensable to function in space as they tend to perform tasks on an accelerated schedule, with less risk and with enhanced performance over humans doing the same task. As such, companies in space robotics market have ramped up investments as they vie to gain footholds across the globe.

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Predominant players in space robotics market are witnessing a quantum leap as the advent of AI-based robots receives accolades from all corners. It is imperative to mention these innate machines can perform complicated and monotonous tasks for a longer duration.

Space organizations such as NASA, JAXA, CSA are increasingly introducing humanoid robots to perform transportation, maintenance and servicing operations.

APAC is set to be a happy hunting ground for players in space robotics industry, as India, China and Japan vie to leave no stone unturned. For instance, Indian Space Research Organization (ISRO), in January 2019, announced that the country’s first unmanned space mission will have a humanoid robot with multilingual features. China and Japan are not far behind as the former eyes robotic outpost at the moon’s south pole in late 2020s. Nonetheless, China has already sent four robotic missions to the moon.

As exploration targets will move ahead to space applications and space science, a robotic scientific research station prototype is expected to be built on the moon. With space missions becoming more and more commonplace among Asian economies, APAC space robotics market share is likely to surge in the years to come.

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A battery of exploration missions and technical developments embraced by governments have pushed the commercial applications segment in space robotics industry. For instance, SpaceX, in March 2019, announced the roll out of Crew Dragon’s demonstration mission—meant for exhibiting the company’s capabilities.

Meanwhile, a slew of R&D activities and satellite launches for security and defense purpose in the U.S., Israel, India, the U.K., China and Japan has also led to the development of space robotics market size from government applications. For example, the U.K. government is increasingly investing in R&D activities under its Innovative UK programs, namely, FAIR-SPACE hub.

Based on robotic arms used in space missions, China Academy of Launch Vehicle Technology (CALT) has introduced an array of collaborative robotic arms. The highly advanced and systematic space technology is expected to aid in ameliorating intelligent system and robot design. CALT has also developed tracking system used to spot and collate rocket debris.

The prominent space robotics market players include Altius Space Machines, Inc., Astrobotic Technology, Inc., GITAI Inc., MAXAR Technologies, Inc., Motiv Space Systems, Stinger Ghaffarian Technologies, Oceaneering International, SpaceX, Honeybee Robotics Ltd, Space Applications Services, and Northrop Grumman.

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