Space Robotics Market Overview, Cost Structure Analysis, Growth Opportunities and Forecast to 2023 - PowerPoint PPT Presentation

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Space Robotics Market Overview, Cost Structure Analysis, Growth Opportunities and Forecast to 2023

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The space robotics market is estimated to be USD 2.88 billion in 2018 and is projected to reach USD 4.36 billion by 2023, at a CAGR of 8.64% from 2018 to 2023. – PowerPoint PPT presentation

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Title: Space Robotics Market Overview, Cost Structure Analysis, Growth Opportunities and Forecast to 2023


1
Space Robotics Market Size, Growth, Trend and
Forecast to 2023
According to the new research report "Space
Robotics Market by Solution, Services (Satellite
Servicing, On-orbit Assembly Manufacturing,
De-orbiting Services, Re- supply, Surface
Mobility, Launch Support), Application,
End-User, and Region - Global Forecast to 2023",
published by MarketsandMarkets, the space
robotics market is estimated to be USD 2.88
billion in 2018 and is projected to reach USD
4.36 billion by 2023, at a CAGR of 8.64 from
2018 to 2023. Speak to Our Analyst and gain
crucial industry insights that will help your
business grow https//www.marketsandmarkets.com/
speaktoanalyst.asp?id61497036 Increasing
investments in space exploration missions, demand
for satellite servicing, on-orbit manufacturing
and assembly, debris removal, and technological
advancements in autonomous systems, are fueling
the growth of the space robotics market. Based
on solution, the satellite servicing segment is
estimated to lead the space robotics market in
2018 Based on solution, the satellite servicing
segment is estimated to lead the space robotics
market in 2018. Growth of this segment can be
attributed to an increase in the number of
satellites required to be retired every year,
advancements in the autonomous systems
technology, and increase in space exploration
activities are expected to lead to the expansion
of capabilities of satellite operators, space
agencies, and satellite manufacturers, among
others. Browse in-depth TOC on "Space Robotics
Market" 70 - Tables 32 - Figures 128 - Pages
2
Based on application, the near space segment is
projected to grow at the highest CAGR during the
forecast period Based on application, the
in-space maintenance inspection subsegment of
the near space segment is expected to grow at
the highest CAGR during the forecast period.
Growth of this segment can be attributed to
several scheduled space exploration missions in
the near future, which are expected to require
satellite servicing and on-orbit manufacturing
and assembly, contributing to the growth of the
near space segment of the space robotics market.
For instance, Made In Space (US), a US-based
company, worked with NASA to create a 3D printer
for the manufacture and development of space
systems in the International Space Station (ISS).
Made in Space is working on a new 3D printer,
Archinaut, which is expected to be able to 3D
print the entire exterior of the satellite
station. Based on end user, the commercial
segment of the space robotics market is projected
to grow at a higher CAGR from 2018 to
2023 Based on end user, the commercial segment
is expected to grow at a higher CAGR, as compared
to the government segment during the forecast
period. The growth of the commercial segment can
be attributed to the focus of various commercial
space entities on space robotics for satellite
operations, space exploration activities,
on-orbit manufacturing assembly operations in
the solar system and beyond planet Earth. North
America is expected to grow at the highest CAGR
in the space robotics market during the forecast
period The space robotics market in North
America is projected to grow at the highest CAGR
during the forecast period. This high growth can
be attributed to increasing investments in space
exploration missions, and increasing space
exploration activities by the US and Canada,
demand for satellite servicing, and on-orbit
manufacturing and assembly, debris removal, and
technological advancements in autonomous
systems. Also, growth can be attributed to the
increasing demand for space robotics from
commercial, government, organizations, space
agencies, defense organizations, and satellite
operators as well as NewSpace companies. Request
for PDF Brochure _at_ https//www.marketsandmarkets.c
om/pdfdownload.asp?id61497036 Some of the major
companies providing space robotics solutions
include Altius Space Machines (US), Maxar
Technologies (US), Motiv Space Systems (US),
Space Systems/Loral (US), Honeybee Robotics
(US), Astrobotic Technology (US), Made In Space
(US), Effective Space Solutions Limited
(Israel), Orbital ATK (US). These key market
players offer various space robotics solutions
and robotics subsystems, sensors autonomous
systems, software and robotic services, such as
satellite servicing, on-orbit assembly and
manufacturing, surface mobility, and de-orbiting
services, among others. New product developments,
partnerships, and contracts are the major growth
strategies adopted by these players to enhance
their positions in the space robotics market.
3
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