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Space robotic solutions are commonly used to perform tasks that are too dangerous for humans or would require transporting humans to extreme environments. Some key applications of space robotic solutions include in-space assembly, satellite servicing, debris removal, asteroid mining, and planetary exploration. Space robotic arms are commonly used for outside maintenance of spacecrafts and space stations. Orbital robotics is another application that involves use of robotic spacecraft for orbital maintenance, delivery of payloads to space stations, and capture of space debris objects.
The global space robotic solution market is estimated to be valued at US$ 5.04 Bn in 2024 and is expected to exhibit a CAGR of 17% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing use of robots in space exploration missions is expected to drive the growth of global space robotic solution market over the forecast period. Space agencies across the world are increasingly focusing on robotic exploration of planets due to rising costs of human spaceflight. For example, NASA’s Mars 2020 rover mission aims to search for signs of ancient life and collect samples of rocks and regolith that can provide clues to past climate. Data and samples collected by Mars 2020 mission would aid in NASA’s plans for future human exploration of Mars.
Second driver is the rising demand for satellite servicing and orbital robotics. As the number of satellites in low earth orbit increases rapidly, there is a growing need for satellite servicing robots capable of repairing, refueling and upgrading older satellites in orbit without replacing whole satellites. Orbital robotics can help extend lifetime of satellites and reduce space debris.
Key players operating in the global space robotic solution market are Maxar Technologies, Motiv Space Systems, Altius Space Machines, Astrobotic Technology, Made In Space, Northrop Grumman, Honeybee Robotics, Effective Space Solutions, Bradford Space, Olis Robotics, Metecs, Astroscale, D-Orbit SpA, ClearSpace, Space Applications Services, Kepler Communications, Kubos, SpiderFab, Tethers Unlimited, MDA. Maxar Technologies and Northrop Grumman captured over 15% share each owing to their dominance in orbital systems and robotic technologies.
Segment Analysis
The global space robotic solution market is dominated by orbital payload and satellite servicing sub segment. This sub segment held around 45% share of the overall market in 2024. The dominance is owing to factors such as increasing growth of space exploration missions, satellite launches and demand for in-space services. Various organizations such as NASA, ISRO, JAXA, ESA are highly investing in research and development of orbital payload and satellite servicing space robots which is propelling the growth of this sub segment.
PEST Analysis
Political: Space agencies and governments across the globe are developing supportive space policies and regulations to boost private investments and development of new space technologies including space robots. This is positively impacting the market growth.
Economic: Growing governmental budgets for space projects especially in emerging economies and rapid growth of private space industry is fueling the demand for advanced space robotics solutions. The overall economic growth is also contributing to market expansion.
Social: Rising participation of commercial space companies and demand for various in-space services is driving the usage of space robots. Increasing awareness among masses regarding new space technologies and space exploration missions is promoting the market.
Technological: Continuous innovations in robotics, artificial intelligence, 3D printing and other related technologies are enabling development of advanced and reliable space robotic systems. Miniaturization of components is further augmenting the demand.
Regional analysis: North America held the largest share of over 35% in the global market in 2024 owing to strong presence of leading players and massive investments by NASA in robotic space programs. Asia Pacific is projected to be the fastest growing region due to initiatives by space agencies including ISRO and JAXA.
Key Takeaways
The global space robotic solution market is expected to witness high growth at a CAGR of around 17% during the forecast period of 2024 to 2031.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
