The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The global space robotics market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global market to grow at a CAGR of 5.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Space robotics refers to a field of science and engineering that assists in space missions and exploration activities. It is used in assembling, maintenance, satellite services and meeting requirements in extremely hostile environments of space. It utilizes space robots for minimizing costs, accelerating schedules, improving overall performance and incurring minimal risks. These robots extend the human ability to operate in space by providing greater handling capabilities to astronauts. As a result, space robotics finds extensive application in autonomously operating on a new planetary surface.
Global Space Robotics Market Trends and Drivers:
A significant need for efficient repair, servicing and maintenance of geostationary satellites represents one of the key factors catalyzing the demand for space robots across the globe. Apart from this, various technological advancements, in confluence with the increasing utilization of autonomous systems in space and the growing number of space programs, are also contributing to the market growth. For instance, the European Commission funded PERASPERA and SpacePlan 2020, which is coordinated by the European Space Agency (ESA) for planning technology roadmaps in space robotics. Project PERASPERA aims to develop an integrated plan for space robotics technology during 2023-2024. Furthermore, emerging technologies, such as deep learning (DL) and artificial intelligence (AI), are extensively being used in the robotics industry, which, in turn, is fueling the market growth. Moreover, the key players are introducing AI-based robots that enhance mobility in space and provide greater exploration benefits. These robots can also perform highly complex tasks for a longer duration and can operate with minimum human aid.
IMARC Group provides an analysis of the key trends in each sub-segment of the global space robotics market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, solution, application and end user.
Breakup by Solution:
Breakup by Application:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Altius Space Machines (Voyager Space Holdings Inc), Astrobotic Technology Inc., GITAI Inc., Honeybee Robotics (Ensign-Bickford Industries), Intuitive Machines LLC, Made In Space Inc. (Redwire LLC), Maxar Technologies Inc, Metecs LLC, Motiv Space Systems Inc., Northrop Grumman Corporation, Oceaneering International Inc. and Olis Robotics.
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )
Drop us an email at