Space Robots Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Space Robots Market Analysis
The space robots market is projected to register a CAGR of more than 6% during the forecast period.
- Space robots are used to perform activities, like space manufacturing, maintenance, exploration, servicing, and numerous other activities in space. They are designed to withstand harsh environmental conditions in space.
- With the boom in Industry 4.0, the advancements in robotics and artificial intelligence are helping the market by bringing innovative technologies into robots used in various space applications.
- The space sector is currently attracting huge investments, and the demand for activities, like space exploration, space mining, on orbit assembly, and debris removal is expected to further boost the market for space robots in the years to come.
Space Robots Market Trends
This section covers the major market trends shaping the Space Robots Market according to our research experts:
Deep Space Segment is Projected to Register with the Highest CAGR During the Forecast Period
In segmentation by application, currently, the deep space segment has the largest market share in the space robots market. There is an increase in the use of robots in deep space applications, as it is difficult for humans to sustain the harsh environmental condition in space, especially in deep space where living beings cannot survive. Space agencies and private firms are developing deep space robots that could function in hostile environments. For instance, NASA is currently working on its latest space-exploring robot, which is dubbed the Shapeshifter. It is a flying amphibious robot that has capabilities like rolling, flying, floating, and swimming. The robots are being developed by the NASA Innovative Advanced Concepts research program, Ali Agha of the Jet Propulsion Lab. Once fully developed, the robots can explore Saturn's moon, Titan, which is known to have liquid (in the form of methane seas) on its surface. Such developments are expected to drive the market for the deep space robots in the years to come.
North America has the Largest Share in the Space Robots Market
Currently, North America has the largest share in the space robots market. Several private companies are developing space robots along with NASA for various applications. In February 2020, NASA awarded a USD 5 million contract to Maxar Technologies to deliver a robotic arm called Sample Acquisition, Morphology Filtering and Probing of Lunar Regolith (SAMPLR). The arm will be used to explore the moon by acquiring samples for determining the geotechnical properties of the moon. With the growing utilization of robots in space, NASA is currently working on developing modules for the storage of robots in space. In December 2019, NASA attached Robotic Tool Stowage (RiTS), a protective storage unit for critical robotic tools, to the outside of the International Space Station. NASA also plans to increase the human and robotic collaborations for its other projects like the exploration of the Moon, Mars, and the deep space. However, during the forecast period, Asia-Pacific is expected to register the highest CAGR. Increasing investments in space robotics and the emphasis on the development of new space robots are the main growth drivers for the market in the region. For instance, the Indian Space Research Organisation (ISRO) unveiled its own half-humanoid robot, the Vyommitra in January 2020. The robot will be onboard the ISRO's 'Gaganyaan' crewed orbital spacecraft that will be launched in late 2020. Such developments are projected to boost the growth of the market in the region during the forecast period.
Space Robots Industry Overview
Northrop Grumman Corporation, Lockheed Martin Corporation, Maxar Technologies, BluHaptics Inc. (Olis Robotics), and ASTROBOTIC are some of the major players in the market. The space robots market has become fragmented over the years, due to the increasing advent of several startups into the industry in the past decade. Competition in the market is increasing, with various government space organizations developing their own robots or collaborating with private firms for sending robots to space. For instance, the Japanese Aerospace Exploration Agency (JAXA), announced a research agreement with GITAI a robotics startup, to work together to put humanoid telepresence robots in space. Investment firms are showing a keen interest in the space robots industry, which is currently showing a lot of promise. For instance, a consortium led by Northern Private Capital (NPC), a Toronto-based investment firm, announced in December 2019 that it had signed a definitive agreement to acquire MDA from Maxar Technologies for CAD USD 1 billion. The agreement is also expected to change the landscape of the competition in the market. With the growing opportunities in the space robots industry, players are further increasing their capabilities to gain new contracts and, thereby, increase their market presence.
Space Robots Market Leaders
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Northrop Grumman Corporation
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Lockheed Martin Corporation
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MDA Corporation (Maxar Techzologies Ltd)
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ASTROBOTIC
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BluHaptics Inc. (Olis Robotics)
*Disclaimer: Major Players sorted in no particular order
Space Robots Market News
In October 2021, NASA announced that it has signed a new agreement with the Australian Space Agency that will further support human and robotic lunar operations for both countries. As part of the agreement, a consortium of Australian businesses and research organizations will develop a small rover that can operate on the lunar surface.
In October 2021, the Japanese space robotics start-up GITAI announced that it has successfully conducted a technology demonstration of a its autonomous space robot, executing various tasks inside the ISS (International Space Station). Upon successful technology emanstration, NASA will install the robot inside the Nanoracks Bishop Airlock at the ISS.
Space Robots Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product
5.1.1 Rovers/Spacecraft Landers
5.1.2 Space Probes
5.1.3 Robotic Servicing Vehicles
5.1.4 Gripping and Docking Systems
5.1.5 Robotic Arms/Manipulator Systems
5.1.6 Other Products
5.2 Type
5.2.1 Deep Space
5.2.2 Near Space
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Russia
5.3.2.3 Germany
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Rest of Asia-Pacific
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Northrop Grumman Corporation
6.2.2 Lockheed Martin Corporation
6.2.3 MDA Corporation (Maxar Technologies Ltd)
6.2.4 ASTROBOTIC
6.2.5 BluHaptics Inc. (Olis Robotics)
6.2.6 Effective Space Solutions Limited
6.2.7 Honeybee Robotics
6.2.8 Made in Space
6.2.9 Metecs LLC
6.2.10 Motiv Space Systems Inc.
6.2.11 Space Applications Services
6.2.12 Oceaneering International
6.2.13 GITAI Inc.*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Space Robots Industry Segmentation
The others segment in segmentation by product includes deorbiting robots/systems, crawler-transporters, launch support vehicles, and resupply robots. In addition to this, in segmentation by application, the deep space segment gives details of the robots used in deep space exploration and transportation, while the near space segment covers the robots used in in-space 3D printing, space operations/scientific experimentation, near space transportation, in-space maintenance, and inspection, among others.
| Product | |
| Rovers/Spacecraft Landers | |
| Space Probes | |
| Robotic Servicing Vehicles | |
| Gripping and Docking Systems | |
| Robotic Arms/Manipulator Systems | |
| Other Products |
| Type | |
| Deep Space | |
| Near Space |
| Geography | ||||||
| ||||||
| ||||||
| ||||||
| Rest of the World |
Space Robots Market Research FAQs
What is the current Space Robots Market size?
The Space Robots Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Space Robots Market?
Northrop Grumman Corporation, Lockheed Martin Corporation, MDA Corporation (Maxar Techzologies Ltd), ASTROBOTIC and BluHaptics Inc. (Olis Robotics) are the major companies operating in the Space Robots Market.
Which is the fastest growing region in Space Robots Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Space Robots Market?
In 2024, the North America accounts for the largest market share in Space Robots Market.
What years does this Space Robots Market cover?
The report covers the Space Robots Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Space Robots Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Space Robots Industry Report
Statistics for the 2024 Space Robots market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Space Robots analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
