Global Space Robotics Market To Surge Splendidly At 8.42% CAGR By 2032

Forecasters at Zion Market Research (ZMR) have portrayed that the valuation of the global space robotics market was around USD 4.77 Billion in 2023 and is projected to hit USD 9.88 Billion by 2032, with a compound annual growth rate (CAGR) of 8.42% during the forecast period 2024-2032. The latest market report released by ZMR is packed with comprehensive information regarding the products & services offered by the industry, demand & sales, growth & restraining factors, market growth trend, key players, segmentation, and market growth prediction. Some of the growth factors considerably driving the market growth are propelling the space robotics market is the increasing demand for geostationary satellites, superior autonomous systems, and the space debris removal tool. International Space Station (ISS) crew members are working on to design on-orbit manufacturing and assembly chains, which would also boost the market.

The global space robotics market report briefed some of the leading players that are flourishing the market growth, which includes Made In Space, Honeybee Robotics, Altius Space Machines, Maxar Technologies, Northrop Grumman, Effective Space Solutions Limited, Astrobotic Technology, and Motiv Space Systems. To acquire a dominating position and expand the global existence in the market, the leading industries are introducing novel products & services and use several strategic approaches such as collaborations and acquisitions.

Significant Rise In The Space Projects Count Likely To Boost The Space Robotics Market

The launch of many space programs and huge investments in space projects by some of the prominent countries such as the US, China, Russia, and India, are propelling the global space robotics market growth. The need for constructing these robots arises to efficiently maintain and repair service spacecraft frequently with automation and high accuracy. Better productivity, cost-effectiveness, and the developing autonomous space project are increasing the popularity of the space industry. The industry is employing those space robots to acquire some efficiency in autonomous on-orbit servicing projects such as repairing, docking, refueling, upgrading, berthing, and removal of the space debris within the orbital pathways.

The global space robotics market report categorizes the market based on the solution, end-user, application, and region. By solution, the market is bifurcated into products and services. The product segment is further categorized into software, sensors & autonomous systems, subsystems & robotics, and others. The second category of the services segment is also divided into satellite servicing, surface mobility, launch support, re-supply, de-orbiting services, and on-orbit assembly & manufacturing. Based on the end-user, the space robotics market is classified into commercial and government. The commercial segment is further classified into launch service providers, satellite owners/operators, and others. The government segment is also further categorized into defense departments, space agencies, and others.

By application, the market is segmented into the ground, near space, and deep space. The near space segment in application is further segmented into in-space 3D printing, in-space maintenance & inspection, space exploration, scientific experimentation/space operations, and space transportation. The deep space segment is also bifurcated into space transportation and space exploration.

North America Likely To Hold The Dominating Position Owing To The Establishment Of Renowned Space Agencies In The Region

North America held for the major share of the global space robotics market in 2018. The dominance gained by the region is probably due to the increased demand for space robotics activities that can be attributed to the high demand for space robotics activities from renowned space agencies such as NASA and the Department of Defense.

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This research report categorizes the market into the following segments and sub segments:

By Solution:

• Product
  • Software
  • Sensors and Autonomous Systems
  • Subsystems and Robotics
  • Others
• Services
  • Satellite Servicing
  • Surface Mobility
  • Launch Support
  • Re-supply
  • De-orbiting Services
  • On-orbit Assembly & Manufacturing

By End User:

• Commercial
  • Launch Service Providers
  • Satellite Owners/Operators
  • Others (NewSpace companies, Satellite Manufacturers, etc.)
• Government
  • Defense Departments
  • Space Agencies
  • Others

By Application:

• Ground
• Near Space
  • In-space 3D Printing
  • In-space Maintenance & Inspection
  • Space Exploration
  • Scientific Experimentation/Space Operations
  • Space Transportation
• Deep Space
  • Space Transportation
  • Space Exploration

By Region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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