Space Rover Market Growing at 9.2% CAGR to Hit USD 998.3 Million by 2030 | Growth, Share Analysis, Company Profiles

The overall space rovers market opportunity is determined by understanding profitable trends to gain a stronger foothold.

WILMINGTON, DE, UNITED STATES, November 26, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Space Rover Market by Type (Lunar Surface Exploration, Mars Surface Exploration, and Asteroids Surface Exploration) and Application (Commercial/Mining and Research): Global Opportunity Analysis and Industry Forecast, 2020–2030." According to the report, the global space rover industry generated $431.30 million in 2019, and is expected to generate $998.29 million by 2030, witnessing a CAGR of 9.2% from 2020 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 (232 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭 https://www.alliedmarketresearch.com/request-sample/10650

Prime determinants of growth

Rise in investments for space explorations and space mining drives the growth of the global space rover market. However, high costs involved in the missions and high probability of failure restrain the market growth. On the other hand, supportive government regulations and technological advancements in 3D printing technology present new opportunities in the coming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 https://www.alliedmarketresearch.com/request-for-customization/10650

The mars surface exploration segment to maintain its leadership status throughout the forecast period

Based on type, the mars surface exploration segment accounted for the highest market share, contributing to nearly half of the global space rover market in 2019, and is projected to maintain its leadership status throughout the forecast period. This is due to rise in investments for Mars exploration missions to search for life, understand the surface and the evolution of the planet, and preparing for human life exploration for Mars. However, the lunar surface exploration segment is estimated to manifest the highest CAGR of 9.9% from 2020 to 2030. This is attributed to several lunar space missions lined up for the launch in the coming years as the Moon is close to the Earth and its surface is equipped with significant prospects for space mining in the future.

The research segment to continue its lead position during the forecast period

Based on application, the research segment held the highest share, accounting for nearly four-fifths of the global space rover market in 2019, and will continue its lead position during the forecast period. This is due to increased focus on inspection of the past life traces and the presence of water on several celestial bodies. However, the commercial/mining segment is expected to witness the fastest CAGR of 10.4% from 2020 to 2030, owing to increase in research activities to mine extraterrestrial objects.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐓𝐡𝐞 𝐃𝐚𝐭𝐚? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐡𝐞𝐫𝐞 𝐚𝐭 https://www.alliedmarketresearch.com/purchase-enquiry/10650

North America to continue its dominance in terms of revenue by 2027

Based on region, North America accounted for the highest market share in 2019, contributing to more than two-fifths of the global space rover market, and will continue its dominance in terms of revenue by 2027. This is due to rise in investments by the U.S. and Canada in space exploration missions. However, Asia-Pacific is estimated to maintain its largest CAGR of 10.5% during the forecast period, owing to investment by prominent countries such as China, India, Japan, and others in the exploration of extraterrestrial objects for research and commercial purposes.

Leading market players
Space Applications Services NV/SA
Astrobotic Technology, Inc.
Planetary Transportation Systems GmbH
ispace, inc.
Maxar Technologies
Motiv Space Systems, Inc.
Honeybee Robotics
Northrop Grumman
Toyota Motor Corporation
Airbus S.A.S.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐚𝐧𝐝 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝐀𝐢𝐫𝐛𝐨𝐫𝐧𝐞 𝐅𝐢𝐫𝐞 𝐂𝐨𝐧𝐭𝐫𝐨𝐥 𝐑𝐚𝐝𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/airborne-fire-control-radar-market
𝐀𝐢𝐫𝐛𝐨𝐫𝐧𝐞 𝐒𝐞𝐧𝐬𝐨𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/airborne-sensors-market-A16504

David Correa
Allied Market Research
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