The latest research report by Emergen Research, named ‘Global Space Robotics Market – Forecast to 2030 ’, entails a comprehensive review of the global Space Robotics Market This comprehensive study provides various aspects of business such as important definition, end use and total revenue generated across various regions. Besides this, researchers behind this study put in vigilant and persistent effort to keep a proximate attention on top performers of Space Robotics Market industry. Import and export, demand and supply, gross margin, supply chain management and distribution channel are the other aspects examined during the research.
The global space robotics market size reached USD 4.32 Billion in 2021 and is expected to register a revenue CAGR of 4.7% during the forecast period, according to latest analysis by Emergen Research. Increasing incorporation of Internet of Things (IoT)-enabled smart robotic systems is a key factor driving market revenue growth. Technologies such as Artificial Intelligence (AI) and IoT have significantly boosted speed of development and acceptance of the Internet of Robotic Things (IoRT), which is a robotic process system that enables space robots to communicate safely with other IoT-enabled devices, learn, and develop characteristics such as self-maintenance and self-awareness.
The space robotics market represents a pivotal frontier in the ever-expanding domain of space exploration and utilization. This sector encompasses a diverse range of robotic systems and technologies designed for deployment and operation in the challenging and often hostile environment of outer space. These robotic systems play a crucial role in various space missions, from satellite servicing and maintenance to planetary exploration and infrastructure development.
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Several factors drive the growth and significance of the space robotics market. One primary driver is the increasing need for cost-effective and efficient solutions in space missions. Robots offer capabilities that reduce the risks and costs associated with human-led missions while enhancing overall mission success rates. They excel in tasks that are repetitive, hazardous, or require precision, making them invaluable assets in space exploration endeavors.
Moreover, the rise in demand for satellite deployment, maintenance, and debris removal fuels the adoption of space robotics. These robots facilitate tasks such as satellite assembly, refueling, and repair, extending the lifespan of satellites and reducing the need for premature replacements. Additionally, as space agencies and private companies intensify their focus on planetary exploration, robots equipped with advanced sensing and manipulation capabilities become indispensable for collecting data and conducting experiments in harsh and remote extraterrestrial environments.
Covid 19 impact analysis :
The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Space Robotics Market industry.The current COVID-19 pandemic is expected to have an effect on the growth of the Space Robotics Market industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns.
Some major companies in the global market report include Oceaneering International, Inc., Northrop Grumman, Motiv Space System, Inc., Metecs, LLC, Maxar Technologies, Intuitive Machines, LLC, Astrobotic Technology, Inc., Altius Space Machines, Motiv Space Systems, Inc., Ispace, Inc., Olis Robotics, and Stinger Ghaffarian Technologies, Inc.
Radical Highlights of the Space Robotics Market Report:
- Impact of the technological developments and R&D advancements on the Space Robotics Market market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Comprehensive overview of the Space Robotics Market market along with analysis of the changing dynamics of the market
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
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Space Robotics Market Segmentation:
Emergen Research has segmented global space robotics market on the basis of offerings, application, end-use, and region:
· Offerings Outlook (Revenue, USD Billion; 2019-2030)
- Autonomous Sensors and Systems
- Robotics and Subsystems
- Satellite Servicing
- On-orbit Assembly
- Surface Mobility
- De-orbiting Services
· Application Outlook (Revenue, USD Billion; 2019-2030)
- Near Space
- Space Operations
- Space Exploration
- Space Transportation
- In Space 3D Printing
- Deep Space
- Space Transportation
- Space Exploration
· End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Defense Department
- Space Agencies
- Private Satellite Operators
- Launch Service Providers
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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