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We expect the global space robotics market to exhibit a CAGR of 5.17% during 2022-2027.
The escalating need for efficient servicing, repair, and maintenance of geostationary satellites, along with the advent of AI-based robots that enhance mobility in space with greater exploration benefits, is primarily driving the global space robotics market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary halt in numerous space missions and exploration activities, thereby negatively impacting the global space robotics market.
Based on the solution, the global space robotics market can be categorized into Remotely Operated Vehicles (ROV), Remote Manipulator System (RMS), software, and services. Currently, services account for the majority of the global market share.
Based on the application, the global space robotics market has been segregated into deep space, near space, and ground. Among these, near space currently holds the largest market share.
Based on the end use, the global space robotics market can be bifurcated into commercial and government. Currently, the government sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global space robotics market include 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.
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