Space Robotics Market Size, Revenue Analysis, Opportunities, Trends, Product Launch, 2021

Published: 2024-08-06
Views: 135
Author: vandanaruhi
Published in: Business

The global space robotics market size reached USD 4.32 Billion in 2021 and is expected to register a revenue CAGR of 4.7% during the forecast period, according to latest analysis by Emergen Research. Increasing incorporation of Internet of Things (IoT)-enabled smart robotic systems is a key factor driving market revenue growth. Technologies such as Artificial Intelligence (AI) and IoT have significantly boosted speed of development and acceptance of the Internet of Robotic Things (IoRT), which is a robotic process system that enables space robots to communicate safely with other IoT-enabled devices, learn, and develop characteristics such as self-maintenance and self-awareness. In addition, IoRT applications enable space robots to plan, execute, and complete tasks under varying environmental conditions and situations by leveraging the information collected from their own infrastructure and the collective intelligence of robotic things. In addition, technologies such as AI aid robotic devices to operate using learning algorithms and provide cognitive decision-making capabilities. Moreover, converging IoT, AI, and robotics boosts development of IoRT applications that improve awareness and decision-making, thereby resolving complex operations more effectively.

Furthermore, the report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.

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Key companies operating in the Space Robotics market include:

Oceaneering International, Inc., Northrop Grumman, Motiv Space System, Inc., Metecs, LLC, Maxar Technologies, Intuitive Machines, LLC, Astrobotic Technology, Inc., Altius Space Machines, Motiv Space Systems, Inc., Ispace, Inc., Olis Robotics, and Stinger Ghaffarian Technologies, Inc

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Space Robotics market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8-year analysis of the Global Space Robotics Market
Critical understanding of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market

For more informative information, please visit us @ https://www.emergenresearch.com/industry-report/space-robotics-market

Space Robotics Market Segmentation:

Offerings Outlook (Revenue, USD Billion; 2019-2030)
- Solution
  1. Autonomous Sensors and Systems
  2. Robotics and Subsystems
  3. Software
  4. Others
- Services
  1. Satellite Servicing
  2. On-orbit Assembly
  3. Surface Mobility
  4. De-orbiting Services
  5. Others

Application Outlook (Revenue, USD Billion; 2019-2030)
- Near Space
  1. Space Operations
  2. Space Exploration
  3. Space Transportation
  4. In Space 3D Printing
  5. Others
- Deep Space
  1. Space Transportation
  2. Space Exploration
- Ground

End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Government
  1. Defense Department
  2. Space Agencies
  3. Others
- Commercial
  1. Private Satellite Operators
  2. Launch Service Providers
  3. Others

Space Robotics Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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