Exploring the Potential of the Space Robotics Market: Innovations and Applications Forecast, 2021-2031

OREGAON, PORTLAND, UNITED STATES, July 27, 2023/EINPresswire.com/ -- According to the report, the space robotics industry generated $4.3 billion in 2021 and is estimated to reach $8 billion by 2031, witnessing a CAGR of 6.9% from 2022 to 2031.

The capability and the suppleness to reconfigure a space robot that is now in orbit are being demanded by the operatives. The ability to tweak the space robots and spaceship to the varying needs of the market is important for the operators of GEO (Geostationary Orbit) satellites that have a lifespan of more than 15 years. This may include switching its functionality from TV broadcasting to internet connectivity or moving a satellite and its robotic arm into a different position, which would be difficult with the traditional hardware-defined space robots.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 : https://www.alliedmarketresearch.com/request-sample/7530

𝐓𝐡𝐞 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝 -

By solution, the services segment held the highest share in 2021, holding more than two-fifths of the global space robotics market revenue, and is projected to maintain its dominance by 2031. The rising number of space test missions introduced in outer space and earth orbits along with a growing number of space programs by developed and developing regions drive the growth of the segment. The remotely operated vehicles segment, on the other hand, would showcase the fastest CAGR of 8.5% during the forecast period. This is due to their ability to operate without real-time assistance from ground control throughout their operation.

𝐓𝐡𝐞 𝐧𝐞𝐚𝐫 𝐬𝐩𝐚𝐜𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐫𝐮𝐥𝐞 𝐭𝐡𝐞 𝐫𝐨𝐨𝐬𝐭 -

By application, the near space segment accounted for nearly three-fifths of the global space robotics market revenue in 2021 and is projected to rule the roost by 2031. The growing need for continuous servicing & maintenance of active satellites, inflowing government investments, and increasing number of space research & exploration projects across the world are the factors driving the growth of the segment. The ground segment, on the other hand, display the fastest CAGR of 9.6% throughout the forecast period. The rising R&D activities have boosted the demand for space robots in ground applications, thus driving the segment growth.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/space-robotics-market/purchase-options

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧'𝐬 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟏 -

By end-user, the commercial segment has garnered the major share in 2021, generating more than two-thirds of the global space robotics market revenue, and is anticipated to grow by 2031. This is because the growing number of threats in military security have been ultimately fostering the need for satellite communication services as a part of ensuring reconnaissance, surveillance, and intelligence application areas. The government segment, on the other hand, would display the fastest CAGR of 9.0 % throughout the forecast period. This is attributed to the fact that government projects have recently covered most of the headlines and public sector activity has also increased significantly. For example, NASA announced the launch of the first-ever manned mission to the International Space Station in 2020 using a commercial rocket after the UK's shuttle program was terminated in 2011. This marks a significant turning point in the government's cooperation with businesses in the field of space, helping the market for space robotics to expand with the government as its primary beneficiary.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 -

Northrop Grumman Corporation,
honeybee robotics,
Oceaneering International, Inc.,
Astrobotic Technology,
Olis Robotics,
space applications services nv/sa,
ispace inc.,
Altius Space Machines,
Maxar Technologies,
motiv space systems, inc.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚 𝐰𝐢𝐭𝐡 𝐀𝐜𝐭𝐢𝐨𝐧𝐚𝐛𝐥𝐞 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 & 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/7530

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 -

By solution, the remotely operated vehicles segment is projected to dominate the global space robotics market in terms of growth rate.

By application, the ground segment is projected to dominate the global space robotics market in terms of growth rate.

By end user, the government segment is projected to dominate the global space robotics market in terms of growth rate

David Correa
Allied Analytics LLP
1 800-792-5285
email us here