What is the Historical Analysis of the Space Robotics Market Size?
The space robotics market has seen considerable growth due to a variety of factors.
•In recent times, the market size of space robotics has seen robust growth. It is projected to rise from $4.84 billion in 2024 to $5.18 billion in 2025 with a compound annual growth rate (CAGR) of 7.1%.
The historical growth can be associated with factors such as initiatives in space exploration, governmental space programs, expansion of the commercial space industry, proliferation of private space corporations, as well as advances in AI and automation.
What is the Forecasted Growth of the Space Robotics Market Size?
The space robotics market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are high for the space robotics market to experience significant expansion in the ensuing years. The market is projected to ascend to "$7.06 billion by 2029, with a compounded annual growth rate (CAGR) of 8.0%.
The surge during the forecasted period can be linked to an uptick in space explorations, a burgeoning commercial space industry, potentials of space mining, the deployment of satellite constellations, and initiatives towards planetary colonization. Emerging trends projected for the forecast period encompass miniaturization and heightened efficiency, incorporation of autonomy and artificial intelligence, modifiable and adaptable systems, a focus on interplanetary exploration, and the increasing demands for on-orbit servicing.
What Are The Key Drivers Fueling Growth In The Space Robotics Market?
The increase in financial support towards space missions is anticipated to fuel the expansion of the space robotics market. This increase essentially refers to the heightened funds permeating the realms of space exploration and development. This surge in investments for space endeavors will subsequently spark further investments into space robotics, paving the way for tremendous technological advancements. For example, the European Space Policy Institute, an impartial Austrian think tank that offers educated insights into future matters regarding space activities, pointed out that European space startups garnered a record investment of $1.2 billion in 2022, showcasing a 23% growth compared to the prior year. Hence, this upswing in investments towards space missions is a driving force for the expansion of the space robotics market.
What Are The Principal Market Segments In The Global Space Robotics Industry?
The space robotics market covered in this report is segmented –
1) By Solution: Remotely Operated Vehicles, Remote Manipulator System, Software, Services
2) By Application: Deep Space, Near Space, Ground
3) By End-User: Commercial, Government
Subsegments:
1) By Remotely Operated Vehicles: Rovers, Landers, Satellites
2) By Remote Manipulator System: Robotic Arms, Grippers, End-Effectors
3) By Software: Autonomous Navigation Software, Communication Software, Control System Software
4) By Services: Mission Support Services, Maintenance And Repair Services, Data Analytics Services
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Which Emerging Market Trends Are Altering The Space Robotics Sector?
Leading firms involved in the space robotics market are prioritizing the creation of sophisticated products such as robotic lunar landers, in an effort to augment exploration capabilities, enable efficient payload delivery to the moon, and support an increasing number of commercial and scientific missions within the burgeoning space economy. Robotic lunar landers are autonomous spacecrafts engineered to transport payloads to the lunar surface, thereby allowing scientific exploration, technology exhibitions, and commercial operations to occur without the need for human involvement. For instance, in April 2022, Astrobotic, a company based in the United States that specializes in developing technology for space robotics for lunar and planetary missions, introduced the Peregrine Lunar Lander. This spacecraft, highly-advanced in its design, has been tailored for accurate payload delivery to the Moon's surface, leveraging state-of-the-art autonomous landing technologies and a powerful propulsion system. With a unique structure that allows for adaptable payload integration, it is capable of housing varying scientific instruments and tech demonstrations for lunar exploration. The Peregrine, equipped with cutting-edge navigation systems like Doppler LiDAR and Terrain Relative Navigation, is designed to amplify the role of space robotics in backing future lunar missions and scientific endeavours.
Who Are the Key Players in the Space Robotics Market?
Major companies operating in the space robotics market include:
• Northrop Grumman Corporation
• Altius Space Machines Inc.
• Astrobotic Technology Inc.
• Honeybee Robotics Ltd.
• Maxar Technologies Inc.
• Motiv Space Systems Inc.
• Oceaneering International Inc.
• Olis Robotics
• Intuitive Machines LLC
• Effective Space Solutions Ltd.
• Stinger Ghaffarian Technologies Inc. (SGT)
• GITAI Inc.
• Ispace Inc.
• Lockheed Martin Corporation
• ABB Ltd.
• NVIDIA Corporation
• Blue Origin LLC
• Boeing Company
• Space Exploration Technologies Corp. (SpaceX)
• IHI Corporation
What are the Regional Insights into the Space Robotics Market?
North America was the largest region in the space robotics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global space robotics market during the forecast period. The regions covered in the space robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
