Space Robotics Market by Component (Hardware, Software, Services), Application (Deep Space, Near Space, and Ground), End-user (Commercial and Government), by Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2032
Market Perspective
The global Space Robotics Market size was worth around USD 3.6 billion in 2022 and is anticipated to grow to around USD 7.5 billion by 2032 at a CAGR of around 7.6% between 2023 and 2032.
Space robots are built to withstand harsh space environments, temperatures, and radiation. They perform various operations, such as servicing satellites, collecting samples, and assembling and fixing crucial components of structures. Moreover, space robotics optimizes productivity and enhances astronauts' handling capabilities in space. Thus, they find extensive applications in space transportation and autonomous operation on new planetary surfaces.
They are designed to extend the human ability to operate and explore in space by providing better handling capabilities to astronauts. Space robotics represents a multi-disciplinary approach in engineering and space science, allowing for autonomous operation on new planetary surfaces and assisting the crew.
The global space robotics market has seen significant growth in recent years, driven by the increasing demand for on-orbit satellite servicing and private firms' space exploration missions. Additionally, the widespread use of satellites for everyday communication, national defense, and agricultural and weather monitoring is driving market growth. The profit associated with manufacturing space robots has led manufacturers to innovate their products, leading to market expansion in the coming years.
Key Insights
- Based on component, the software segment generated the highest revenue
- By application, the near-space segment dominated the market share in 2022
- By end-user segments are expected to dominate over the forecast period
- On the basis of region, North America leading the global space robotics market
Integration of Artificial Intelligence (Ai) and Deep Learning (Dl) in the Robotics Industry Augments the Market Growth
The robotics industry is experiencing exponential growth as a result of technological advancements such as artificial intelligence (AI) and deep learning (DL). The integration of these technologies has fueled the development of more advanced robots that can perform complex tasks for extended periods with minimal human assistance, leading to increased demand for space robotics technology.
Artificial intelligence-based robots are being developed by major players in the market, providing benefits for research and exploration, increasing mobility in space, and improving astronauts' ability to operate and explore in space. This has led to an increase in the application of space robotics technology, from crew assistance to autonomous operations on new planetary surfaces. Additionally, the continuous launches of satellites and spacecraft by governments and space agencies around the world have significantly accelerated the space robotics market revenue.
Increasing Number of Space Exploration Missions by Private Firms Drives the Market
The increasing number of space exploration missions by private firms has also driven market growth. Autonomous systems and robotics play a central role in current and future space exploration missions. Several national space agencies are using various space robotics projects to continue, maintain, and expand space exploration. These robotic space solutions improve astronauts' ability to operate and explore in space by providing them with better handling capabilities.
The growing emphasis on space and satellite technologies for military and defense purposes and accelerating applications supported and funded by various countries' authorities further boost the growth of market revenues. The accelerating need for on-orbit satellite services and the increase in space exploration missions would foster the space robotics market in the coming years.
High Initial Investment and Limited Technical Expertise Restricts the Growth Potential
The space robotics market growth is restricted by the high initial investment and limited technical expertise required for designing and developing space robotics. A robust manufacturing setup and an immense amount of capital are needed for substantial resources and facilities. Moreover, the need to deploy autonomous technologies such as AI and DL in robots to enhance efficiency and reduce production time requires enormous investments, thereby limiting the market growth, especially for new vendors to enter the market.
Recent Developments
In September 2022: MDA Ltd. Launched the second sale of products derived from its Canadarm3 technology to Axiom Space. The new contract is for the supply of 62 pairs of payload interfaces to Axiom Space's Axiom Station, and these interfaces provide mechanical, electrical, and data connections to payloads mounted externally on the Axiom station to perform functions such as research, Earth observation, communications, and many other applications.
In July 2022: Nanoracks and Gitai collaborated on a technology demonstration aboard the International Space Station, which could bring one step closer to commercializing autonomous space robotics. The new S2 robot system performs two common team tasks, such as assembling structures and panels and operating cables and switches.
In March 2022: MDA built a space robotics facility of 200,000-square-foot in Brampton, Ontario. The new facility unlocks the potential of design and space mission expertise, enabling the launch of all innovative commercial space robotics products using Canadarm3 technology.
Segmentation Analysis
Based on the component, the market is classified into hardware, software, and services. The software segment is the most dominating segment owing to the increased adoption of robotic subsystems and rising demand for software that enables multiple robot collaborative planning are key factors driving revenue growth of this segment.
Based on application, the market is segmented into deep space, near space, and ground. The near-space application segment accounted for the largest market share as it can be used for repairing satellites, assembling large space telescopes, and deploying assets in space for scientific exploration.
Based on end-user, the market is bifurcated into commercial and government. The government has maintained a dominating position owing to its growing emphasis and spending on space and satellite technologies for military & defense purposes and applications which drives the segment growth. In addition, government bodies in various countries are supporting as well as funding research & development activities associated with space and robotics, which is further boosting market revenue growth.
North America is Dominating the Market Due to Increased R&D and Technological Improvements in Space Robotics
North America accounted for the dominating share owing to the huge investments in R&D and technological improvements to carry out space exploration initiatives. The majority of this spending was attributed to the United States, which spent $650 billion on space-related activities since the inception of NASA, followed by Canada with $6.4 billion. These investments in space exploration initiatives and R&D have fueled the growth of the space industry, leading to the development of new technologies, satellites, and other related products and services.
It is expected that several new satellites are expected to enter orbit in the near future to meet growing commercial use. Furthermore, one such measure that has offered lucrative opportunities for market growth across North America is the restriction on the sale of high-quality satellite imagery for commercial use. The growth prospects for massive funding of major space exploration companies and a significant increase in space exploration programs in countries such as the United States and Canada further propel the space robotics market growth.
In addition, the growing popularity of on-orbit assembly, debris removal, and satellite maintenance create lucrative growth opportunities for the market in the coming years. The regional expansion of the market can be attributed to the huge need for space robots in defense and military, government, space agencies, and commercial entities in countries such as the United States. Large investments by domestic and international space research institutes and rapid development in robotic technologies such as artificial intelligence.
The increased participation of private companies significantly contributed to the growth of the market as these are mainly focused on product development and partnerships with international space organizations to provide more cost-effective and advanced solutions, which accelerates the market growth across the region.
Asia Pacific is the Fastest Growing Market Owing to the Increased Number of Space Programs and Research Missions
China and India are leading the surge in space exploration investments in the Asia Pacific region. They are investing heavily in research, infrastructure, and missions to the Moon, Mars, and beyond. Other countries in the region are also contributing to the growth of the regional market for space exploration. The Asia Pacific region is adopting a collaborative approach to space exploration, utilizing geospatial information services and space technology to improve resilience and reduce disaster risk.
The upcoming space programs and research missions are expected to create new opportunities for growth and innovation. The integration of artificial intelligence (AI) and deep learning (DL) and the emergence of AI-based robots with better space exploration and mobility capabilities are favoring market growth. This is expected to lead to the development of new technologies and the exploration of new frontiers in space, further expanding the market and driving progress in the region.
Competitive Landscape
- ASTROBOTIC TECHNOLOGY
- Confined Space Robotics INC.
- GITAI
- Intuitive Machines, LLC
- Lockheed Martin Corporation
- MDA Ltd. (Maxar Technologies Inc.)
- Metecs, LLC
- Motiv Space Systems, Inc.
- NANORACKS
- Northrop Grumman Corp
- Oceaneering International, Inc.
The global space robotics market is segmented as follows:
By Component
- Hardware
- Software
- Services
By Application
- Deep Space
- Near Space
- Ground
By End-user
- Commercial
- Government
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Reunion
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Space Robotics Market by Component
- March-2023
- 148
- Global
- aerospace-and-defence
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