The Space Robotics Global Market Report 2023, provides comprehensive information on the space robotics market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Space Robotics Global Market Report 2023, the market size is expected to grow from $4.30 billion in 2022 to $4.60 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global space robotics market size is expected to reach $6.12 billion in 2027 at a CAGR of 7.4%.
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A high focus on research and development associated with space robotics is the key trend that is gaining popularity in the space robotics market. Major organizations operating in the market are focused on research and development for product innovations to strengthen their position in the market. For instance, in June 2021, PickNik Inc., a US-based Robotics software development company, announced it has been awarded Phase II Small Business Innovation Research (SBIR) funding from the National Aeronautics and Space Administration (NASA) to develop its technology for advanced planning capabilities for robots in microgravity situations. The company is working on a simple supervised autonomy solution for controlling remote, sophisticated robots. MoveIt Studio is the commercially available version, with an initial release date of Summer 2021. MoveIt Studio extends standard robot teleoperation’s problem-solving capabilities.
The space robotics market is segmented:
1) By Solution: Remotely Operated Vehicles, Remote Manipulator System, Software, Services
2) By Application: Deep Space, Near Space, Ground
3) By End-User: Commercial, Government
North America was the largest region in the space robotics market in 2022.
The table of contents in TBRC’s space robotics market report includes
- Executive Summary
- Space Robotics Market Characteristics
- Space Robotics Market Trends And Strategies
- Space Robotics Market – Macro Economic Scenario
- Space Robotics Market Size And Growth
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- Africa Space Robotics Market
- Space Robotics Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Space Robotics Market
- Space Robotics Market Future Outlook and Potential Analysis
- Appendix
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