Space Robots Market

Space robots market Growth & Size 2022 - 2027:

The space robots market topped $ 2 billion in 2020 and is expected to increase at a CAGR of over 6% between 2021 and 2026. Government programs and investments in space research and exploration are increasing in various countries, which is propelling the market forward.

Space robots are created specifically for space missions and exploration. They can resist extreme space conditions and execute tasks like assembly, maintenance, and repair of spatial satellites, among other things. these robots enhance humans' capabilities in space by increasing their handling capacity.

Recent Developments:                  

The artwork for Astrobotic's Peregrine Mission One (PM1) emblem has been published ahead of the mission's planned launch later this year. The Peregrine robotic lander, developed by the Pittsburgh-based business, is on track to become the first U.S. spacecraft to land on the moon since the Apollo missions, as well as the first privately-owned and operated vehicle to do so.

Olis Connect is the industry's first plug-and-play solution for remote monitoring and control of industrial robot arms. Because of real-time video feeds, video-based email notifications, and the ability to physically command the robot directly in the browser, it can transfer the majority of a robot operator's duties online

Motiv Space Systems announced the development of COLDArm, a first-of-its-kind robotic arm designed to withstand the extreme cold of the Moon's South Pole, ushering in a new age of extended space exploration on the Moon, Mars, and beyond, in collaboration with JPL.

Northrop Grumman has presented their Mini-Communications, Navigation, and Identification (CNI) system for vertical lift platforms, which features an open architecture and in-flight connectivity (IFC). The Mini CNI system is designed to help the US Army accomplish Multi-Domain Operations by enabling "data as a strategic advantage" for Joint All Domain Command and Control (JADC2) operations (MDO).

Market Drivers:

Particularly compared to human alternatives, the benefits of higher productivity, cost-effectiveness, and the ability to execute in risky conditions efficiently are anticipated to increase market demand. The deployment of various satellites and spaceships that work in deep and space environments necessitates the use of highly efficient space robotic systems for maintenance and repair. The increasing chip manufacturing business may hasten space robots technical breakthroughs. Because of the increased demand, companies are concentrating their research efforts in the aerospace sector.

Market Restraints:

One of the biggest problems preventing new players from entering the space robots sector is the high initial expenditure required. Companies require a large facility to perform product development and testing, resulting in hefty initial property investment.

The lack of control over outer space disasters is a major problem impeding the expansion of the space robots business. Asteroids, gamma-ray bursts, solar flares, space debris, and supernovas can all occur in outer space, causing damage to the machinery. This factor can affect the entire infrastructure's operating activities and disrupt the process.

SPACE ROBOTS MARKET REPORT COVERAGE:

Market Segmentation

Space Robots Market By Solution: 

• Services
• Software
• RMS
• ROVs.

In 2020, the services category dominated the market, accounting for nearly 38% of total revenue. The segment is predicted to maintain its dominance, although the Remotely Operated Vehicles (ROVs) segment is expected to grow at the quickest rate. ROVs are further divided into three categories: rovers/spacecraft landers, space probes, and others. Rovers are planetary surface exploration robots that are capable of image capture, planet exploration, drilling, and data interpretation and transmission, among other functions.

Over the projected period, the Remote Manipulator System (RMS) segment is expected to increase at a significant rate. RMS is capable of retrieving, deploying, and handling satellite payloads, as well as assisting astronauts with maintenance tasks. The RMS segment is predicted to develop due to rising demand for space-based services such as satellite servicing, surface mobility, de-orbiting services, and re-supply services. RMS is divided into robotic arms/manipulator systems, grasping & docking systems, and other subcategories. Robotic arms, which are intended to aid astronauts in lifting and manipulating large things in space, are expected to see tremendous expansion in sophisticated space systems. The two robotic arms currently attached to the International Space Station are Canadarm and Dextre.

Space Robots Market By Application:

• Near-Space
• Deep-Space
• Ground.

In 2020, the near-space application segment had the biggest revenue share, accounting for almost 43% of total revenue. Repairing satellites, building massive space telescopes, and putting assets in space for scientific investigation can all be done with near-space or orbital robots. Space transportation and exploration, in-space maintenance, and other activities are all part of the near-space section. Due to the demand for resupply for the International Space Station (ISS) and servicing existing geosynchronous satellites, the space transportation industry is predicted to increase rapidly throughout the forecast period.

Over the projected period, the deep-space category is expected to have the highest CAGR. Planetary robots, also known as deep space robots, are critical for viewing, scanning, and extracting extraterrestrial surfaces. By assisting the astronaut crew in space operations, the robotic system is critical for deep space exploration initiatives to extend human reach into space, expand planetary access capabilities, and improve human operation efficiency. Some of the robotic systems that are gaining traction in the market include exploration robots, autonomous spacecraft, human-assistive robots, and piloted aeroplanes.

Space Robots Market By End-User:

• Commercial

• Government.

In 2020, the government segment had the highest revenue share of over 84 %. The demand for robots technology in this market is increasing as a result of several R&D initiatives and satellite launches for defence and security applications. Furthermore, the segment's growth is being fueled by a growing emphasis on space and satellite technologies for military and defense purposes. Various countries are also sponsoring research and development in the fields of space and robots.

From 2022 - 2027, the commercial category is expected to grow at the quickest rate, as business investments in space missions gradually increase. Private enterprises are continuing their successful journey to low Earth orbit, providing space transportation as well as space and flight support for the International Space Station. The increased need for satellite servicing, refuelling, and mission extension services offers private enterprises new economic prospects.

Regional Analysis Space robots market

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and Africa

In 2020, North America had the highest revenue share, accounting for almost 41% of total revenue. The powerful space capabilities of NASA and CSA are credited with driving the regional market growth. Both companies are spending a lot of money on R&D and technology upgrades to carry out their space exploration plans. NASA wants to establish a lunar gateway and build an in-space infrastructure for long-term space exploration. This can be accomplished by creating a sophisticated lunar robotic expedition. Furthermore, this gateway allows for commercial expeditions to the moon's surface, which will aid in the development of new technologies including robotic antecedents for future human journeys beyond Earth's orbit, spaceflight systems, and crew mobility. All of these programmes for space and lunar exploration add up to a promising future for the sector.

From 2020 to 2027, Asia Pacific is expected to be the fastest-growing regional market. The Asia Pacific is the first region to use a correlation approach to boost resilience and decrease disaster risk by combining geospatial information services and space technology. The region's governments are expected to collaborate on a regional action plan for a more sustainable future. This enables Mongolia and other countries with limited space capabilities to collaborate with space technology leaders such as China, India, and Japan. Furthermore, prospective space programs and exploration missions, such as India's Chandrayaan-3 and China's Chang 7 robotic lunar exploration missions, are likely to expand the regional market's horizons.

Key Players in Space robots market:

1. Altius Space Machines (US)
2. Astrobotic Technology (US)
3. Olis Robotics (US)
4. Honeybee Robotics (US)
5. Intuitive (US)
6. Maxar Technologies (US)
7. Metecs (US)
8. Motiv Space Systems (US)
9. Northrop Grumman (US)
10. Oceaneering International (US)

Market Leader:

SpaceX is currently the leading company in the global space robots market.

Impact of COVID-19 On Space Robots Market:

Due to strict lockdowns implemented by government entities in 2020, the market was badly damaged, resulting in stagnation in industrial operations. The industry supply chains were affected by the temporary shutdown of manufacturing plants, industrial facilities, and R&D centres. The disruptions in the supply chain prompted delays in the launch of new solutions as well as the construction of rovers, satellites, and interplanetary missions.