Space Robotics Market Size, Share & Growth | Forecast [2031]

Report Description

The global space robotics market size was USD 4.45 Billion in 2022 and is likely to reach USD 7.08 Billion by 2031, expanding at a CAGR of 5.3% during 2023–2031. The growth of the market is attributed to the increase in demand for efficient service, repair, and maintenance of geostationary satellites.

Space robots are self-controlled device containing of electrical, mechanical, and electronic components that has an ability to replace a living agent. Space robots holds the ability to survive in adverse conditions of space. It can perform functions such as exploration, construction, servicing of spatial satellites, and maintenance. The main type of robots are remote manipulator system (RMS) and remotely operated vehicles (ROV). The industry is gaining great growth due to its benefits such as cost effectiveness, better productivity, and capability to tolerate harsh situations as a human replacement. Space robots are anticipated to perform the future deep space exploration projects. 

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Autonomous systems and robotics are the key factors in the present as well as future space exploration projects. The robots enhance the human ability to explore and operate in space by allowing better handling abilities to astronauts. In the field of space science and engineering the modern space robots represents a multi-disciplinary approach. As a result, the application of space robotics technology has increased, from helping the crew to independently functioning on a new planetary surface.

Various organizations around the world are looking at space robotics as future of space explorations. NASA has recognized various robotics sectors that are essential in its space technology roadmap till 2035. Likewise, the European Space Agency (ESA) is preparing technology roadmaps with space robotics by investing in different projects by the European Commission, such as SpacePlan 2020 and PERASPERA. Project PERASPERA is about sketching a major plan for space robotics technology in the 2023-2024 time period.

The introduction of emerging technologies, such as Deep Learning (DL) and Artificial Intelligence (AI), are used extensively in the robotics industry. Many organizations are launching AI-based robots, which provide enhanced mobility in space and greater exploration benefits. The robots are able to function with minimal human help and can perform highly difficult tasks for a longer duration.

Market Trends, Drivers, Restraints, and Opportunities

• Factors, such as the rising use of autonomous systems in space, technological developments, and growing number of space programs, are anticipated to boost the market significantly during the forecast period. 

• The technological advancements and rising interest of government of betterment of space programs are the key factor for the market development.

• High number of emerging organizations and large investments by the public as well as private sector is propelling the market for the rapid development.

• High preliminary investment in the technology is the major restraint factor for the market development.

• Emerging technology and investments by the major market players demonstrates huge opportunities in the market during the forecast period.

Scope of Space Robotics Market Report

The report on the global space robotics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Space Robotics Market Segment Insights

Remotely operated vehicles segment is expected to grow at a rapid pace

Based on solutions, the global space robotics market is divided into remotely operated vehicles, remote manipulator system, software, and services. The remotely operated vehicles segment is further classified space probes, rovers/spacecraft landers, and others. The remote manipulator system is segmented into gripping & docking systems, robotic arms/manipulator systems, and others. The remotely operated vehicles segment is expected to grow at a rapid pace. The rovers are the robots which function on planetary surface exploration. It perform various tasks, such as planet exploration, image capturing, digging, data transmission, and analysis.

The remote manipulator system (RMS) segment is estimated to grow at a considerable rate. RMS performs the function of deploy, handle, and retrieve satellite payloads as well as helping astronauts in controlling activities. The rising preference for space-based services, such as de-orbiting services, surface mobility, satellite servicing, and re-supply services, are projected to boost the segment development.

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Near-space segment is projected to expand at a considerable CAGR

On the basis of applications, the global market is segregated into deep space, near space, and ground. The deep space segment is further segmented into space exploration, space transportation, and others. The near space segment is segregated as in-space maintenance, space transportation, space exploration, and others. The near-space segment is projected to expand at a considerable CAGR. The segment registered the revenue share 43% in 2019. This is attributed to the increasing demand for the geosynchronous satellites and supply for the ISS.

The deep-space segment is projected to gain major market share owing to the important role as surveying, observing, and extracting planetary surfaces. The robotic system is vital for space exploration projects for increasing the human reach in planetary access and deep space. Moreover, enhancing human operation effectiveness by assisting the astronaut in the space programs. Human-assistive robots, autonomous spacecraft, exploration robots, and piloted aircraft are the robotic systems, which are boosting the segment development in the forecast period.

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Government segment is estimated to grow at a significant pace

Based on organizational types, the global market is bifurcated into commercial and government. The government segment is estimated to grow at a significant pace. The segment registered significant revenue share of above 84% in 2019. Numerous satellite launches and R&D activities for security & defense purposes are propelling the segment in the coming future. Additionally, rising focus on satellite and space technology for defense and military program is fueling the growth for the segment. Government are taking initiatives for the improvement of the space technology and large funding is the key factor for the segment growth.

The commercial segment is expected to demonstrate good growth in the near future. This is attributed to the rising number of private companies in the market. As these companies are launching low orbit earth missions, giving space transportation along with flight & space support for international space stations. The increase in demand for refueling, satellite servicing, and mission extension facilities brings in huge opportunities for the private segment.

North America is anticipated to constitute a key market share

In terms of regions, the global space robotics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

North America is anticipated to constitute a key market share owing to the presence of NASA and CSA organizations, which holds strong space capabilities. The organization invests huge amount on R&D activities as well as technology improvement for space exploration programs. NASA is building the infrastructure in space for space exploration and lunar gateway development. This gateway gives huge opportunities for the private companies to increase its market which will develop new technologies.

Asia Pacific market is projected to grow at a significant rate in the forecast period. This is attributed to the increased acceptance of geospatial information services along with space technology to reduce the disaster risk and improve resilience. The new space mission launched by major countries such as India, China, and Japan. The missions such as Chandrayaan-3 and Chang’e 7 by India and China has contributed significantly for the development of market in the region.

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