AI in Space Exploration Market Key Insights, Drivers And Share Analysis

The ai in space exploration global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

AI in Space Exploration Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The ai in space exploration market size has grown exponentially in recent years. It will grow from $3.4 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 30.8%. The growth in the historic period can be attributed to demand for ai technology to enhance space missions, increased government investment, increased autonomous systems and robotics, increased data management, cognitive cloud computing in space.

The ai in space exploration market size is expected to see exponential growth in the next few years. It will grow to $12.78 billion in 2028 at a compound annual growth rate (CAGR) of 30.2%. The growth in the forecast period can be attributed to increasing number of space launches, increasing number of space missions, increasing autonomous vehicles, increasing anomaly detection, increasing satellite operations. Major trends in the forecast period include technological advancements, product innovations, integrating ai technologies,ai-powered robots, development of new space technologies.

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Scope Of AI in Space Exploration Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

AI in Space Exploration Market Overview

Market Drivers –

An increasing number of space missions is expected to propel the growth of the AI in space exploration market going forward. Space missions refer to planned and organized endeavors to explore outer space or celestial bodies using spacecraft, satellites, rovers, telescopes and other technologies. AI in space exploration provides numerous benefits, enhancing the capabilities of space missions across various aspects such as autonomous navigation and control, enhanced data analysis, automated planning and scheduling and advanced robotics. For instance, in January 2024, according to the United Nations Office for Outer Space Affairs, an Austria-based United Nations secretariat, 2,664 objects were launched into orbit in 2023, compared to 2,478 in 2022, indicating an increase in the launch of space missions. Therefore, the increasing number of space missions is driving the AI in space exploration market.

Market Trends –

Major companies operating in the AI in space exploration market are focused on developing strategic collaborations to strengthen their position in the market. Strategic collaborations refer to purposeful partnerships or alliances between entities to achieve common goals, leveraging complementary strengths and resources for mutual benefit. For instance, in February 2023, IBM, a US-based multinational technology corporation, and NASA, a US-based government agency, collaborated to apply artificial intelligence (AI) to Earth science data, to discover new insights about our planet. The collaboration involves the development of AI foundation models to analyze petabytes of text and remote-sensing data, with the models being open and available to the entire science community.

The ai in space exploration market covered in this report is segmented –

1) By Type: Rovers, Robotic Arms, Space Probes, Other Types

2) By Application: Robotics, Remote Sensing and Monitoring, Data Analytics, Asteroid Mining, Manned Vehicles and Reusable Launch, Communications, Remote Missions

3) By End-user: Government, Commercial

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Regional Insights –

North America was the largest region in the AI in space exploration market in 2023. The regions covered in the ai in space exploration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the ai in space exploration market report are Lockheed Martin, Airbus, IBM, Northrup Grumman, Hewlett Packard Enterprise (HPE), Thales Group, Booz Allen Hamilton, Spacex, Maxar Technologies Inc., Astroscale, Planet Labs Inc., Spire Global, Iceye, Capella Space, Blacksky Global, Hawkeye 360, D-Orbit, Orbital Insight Inc., LeoLabs, Slingshot Aerospace, Kuva Space, Analytical Space, Raptor Maps, Phase Four, Descartes Labs, AADYAH Aerospace, Ubotica Technologies, Swarm Technologies, Exo-Space, Craft Prospect

Table of Contents

1. Executive Summary

2. AI in Space Exploration Market Report Structure

3. AI in Space Exploration Market Trends And Strategies

4. AI in Space Exploration Market – Macro Economic Scenario

5. AI in Space Exploration Market Size And Growth

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27. AI in Space Exploration Market Competitor Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

30. Appendix

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