logo
logo
AI Products 

Space Robotics Market to Show Exponential Growth by 2031

avatar
Nidz B
Space Robotics Market to Show Exponential Growth by 2031

Increase in investments in space robotics, rising demand for satellite launches, and the surge in the number of Joint ventures by major players to broaden their business and geographic reach across the world drive the growth of the global space robotics market. On the other hand, high costs associated with space exploration missions restrain the market growth to some extent. However, technological advancements in the space industry and the use of software-defined technology in space robots are expected to create lucrative opportunities in the industry. 


Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/A07165


The capability and the suppleness to reconfigure a space robot that is now in orbit are being demanded by the operatives. The ability to tweak the space robots and spaceship to the varying needs of the market is important for the operators of GEO (Geostationary Orbit) satellites that have a lifespan of more than 15 years. This may include switching its functionality from TV broadcasting to internet connectivity or moving a satellite and its robotic arm into a different position, which would be difficult with the traditional hardware-defined space robots.


Leading Key Players: 

  • Northrop Grumman Corporation,
  • honeybee robotics,
  • Oceaneering International, Inc.,
  • Astrobotic Technology,
  • Olis Robotics,
  • space applications services nv/sa, 
  • ispace inc.,
  • Altius Space Machines,
  • Maxar Technologies,
  • motiv space systems, inc. 


The report analyzes these key players in the global space robotics market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player. 


Buy Now: https://www.alliedmarketresearch.com/checkout-final/c27310a9f46c8c4a37f0bff3edacecf7


By application, the near space segment accounted for nearly three-fifths of the global space robotics market revenue in 2021 and is projected to rule the roost by 2031. The growing need for continuous servicing & maintenance of active satellites, inflowing government investments, and increasing number of space research & exploration projects across the world are the factors driving the growth of the segment. The ground segment, on the other hand, display the fastest CAGR of 9.6% throughout the forecast period. The rising R&D activities have boosted the demand for space robots in ground applications, thus driving the segment growth. 


Regional Analysis:


By region, North America accounted for the highest share in 2021, holding nearly three-fifths of the global space robotics market revenue. To cater to the rising demand for commercial purposes, hundreds of new satellites are expected to be launched in near future. Also, the governing relaxation on the sale of high-end satellite images for commercial uses is one of such measures that has offered lucrative opportunities for the market growth across North America. LAMEA, simultaneously, would portray the fastest CAGR of 12.1% from 2022 to 2031. 

collect
0
avatar
Nidz B
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more