The Business Research Company’s report on the Space Robotics Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the space robotics market further?
Growth in investments in space missions is expected to propel the growth of the space robotics market going forward. The growth in investment in space missions is the increase in the amount of money that is being spent on space exploration and development. Growth in investments in space missions will lead to more investments in space robotics that will boost significant advances in technology. For instance, in May 2023, according to the European Space Policy Institute, an Austria-based independent think tank that provides informed insights on mid- to long-term issues relevant to space activities, European space start-ups received a record investment of $1.2 billion in 2022, marking a 23% increase over the previous year. Therefore, the growth in investments in space missions is driving the growth of the space robotics market.
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What are the key factors influencing the forecasted market size of the space robotics industry?
The space robotics market size has grown strongly in recent years. It will grow from$4.84 billion in 2024 to $5.18 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to space exploration initiatives, government space programs, commercial space industry growth, rise of private space companies, advancements in ai and automation
The space robotics market size is expected to see strong growth in the next few years. It will grow to “$7.06 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to increased space exploration missions, growth of commercial space industry, space mining opportunities, satellite constellations deployment, planetary colonization initiatives. Major trends in the forecast period include miniaturization and efficiency, autonomy and ai integration, modular and adaptable systems, interplanetary exploration focus, on-orbit servicing demands.
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Who are the leading competitors in the space robotics market?
Major companies operating in the space robotics market include Northrop Grumman Corporation, Altius Space Machines Inc., Astrobotic Technology Inc., Honeybee Robotics Ltd., Maxar Technologies Inc., Motiv Space Systems Inc., Oceaneering International Inc., Olis Robotics, Intuitive Machines LLC, Effective Space Solutions Ltd., Stinger Ghaffarian Technologies Inc. (SGT), GITAI Inc., Ispace Inc., Lockheed Martin Corporation, ABB Ltd., NVIDIA Corporation, Blue Origin LLC, Boeing Company, Space Exploration Technologies Corp. (SpaceX), IHI Corporation
Which emerging trends are set to transform the space robotics market landscape?
Major companies operating in the space robotics market are focused on developing advanced products such as robotic lunar landers to enhance exploration capabilities, facilitate payload delivery to the moon, and support a growing array of commercial and scientific missions in the expanding space economy. Robotic lunar landers are automated spacecraft designed to deliver payloads to the moon’s surface, enabling scientific exploration, technology demonstration, and commercial activities without human presence. For instance, in April 2022, Astrobotic, a US-based company that is developing space robotics technology for lunar and planetary missions, launched Peregrine Lunar Lander. The Peregrine Lunar Lander is a sophisticated spacecraft designed for precise payload delivery to the Moon’s surface, utilizing advanced autonomous landing technologies and a robust propulsion system. Its innovative structure allows for flexible payload integration, accommodating various scientific instruments and technology demonstrations for lunar exploration. By employing state-of-the-art navigation systems, including Doppler LiDAR and Terrain Relative Navigation, the Peregrine aims to enhance the capabilities of space robotics in supporting future lunar missions and scientific research.
How do different geographies compare in terms of market share and growth potential in the space robotics market?
North America was the largest region in the space robotics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global space robotics market during the forecast period. The regions covered in the space robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Which major segments of the space robotics market are experiencing the fastest growth?
The space robotics market covered in this report 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
Subsegments:
1) By Remotely Operated Vehicles: Rovers, Landers, Satellites
2) By Remote Manipulator System: Robotic Arms, Grippers, End-Effectors
3) By Software: Autonomous Navigation Software, Communication Software, Control System Software
4) By Services: Mission Support Services, Maintenance And Repair Services, Data Analytics Services
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How is the space robotics market defined, and what are its core characteristics?
Space robotics is a new field of science and engineering that was developed for space exploration and space missions. Space robotics is required to work in environments that are extremely hostile, gravity-less, and with high-temperature.
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