Deep Space Robotics Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Space robots are self-contained devices made up of mechanical, electrical, and electronic components that can perform tasks normally performed by humans. Space robots can withstand the harsh environment of space and perform tasks such as building, repair, exploration, and satellite servicing, among others. The two main type's space robots are remotely controlled vehicles (ROV) and remote manipulator systems (RMS). Due to benefits such as improved efficiency, cost effectiveness, and the potential to work in harsh environments as a human replacement, the space robotics industry is experiencing rapid growth. Deep space exploration is expected to carry out in the future by space robots. Robotic weapons, for example, assist astronauts in lifting and handling heavy and large objects in space. Additionally, rovers are spacecraft that use exploration vehicles to carry crew members from one spaceflight to the next.

MARKET SCOPE

The "Global Deep Space Robotics Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the deep space robotics market with detailed market segmentation by solution, application, end-user, and geography. The report provides key statistics on the market status of the leading deep space robotics market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   On the basis of solution, the market is segmented as products and services.
  
•   Based on application, the market is segmented into space transportation and space exploration.
  
•   On the basis of end-user, the market is segmented as government and commercial.
  

MARKET DYNAMICS

Drivers:

•   The major factors driving the deep space robotics market are increase in government expenditure on deep space research projects, rising levels of robotic autonomy, and an increase in the number of space research and exploration projects around the world.
  
•   Increasing investments in private space robotics firms, on the other hand are expected to contribute to the growth of the deep space robotics market.
  

Restraints:

•   Regulatory implementations by several space regulatory authorities, on the other hand, are expected to stifle the deep space robotics markets growth.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The deep space robotics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive porter's five forces analysis affecting the deep space robotics market.

IMPACT OF COVID-19 ON DEEP SPACE ROBOTICS MARKET

Several space agencies around the world have prolonged their satellite launch plans due to the COVID-19 scenario. As a result of this prolongation, the need for deep space robots that were to be used in deep space missions has decreased. Due to proclaimed lockdowns and travel restrictions, research and development (R&D) in deep space robots technology has been hampered. Because of the overall scarcity in demand for deep space robots and their components, deep space robotics businesses' business development prospects have been harmed. Demand for deep space robotics may increase in the future as governments around the world begin to relax limitations. COVID-19 has caused backlogs in a number of space programmes. Such projects are projected to take shape following the COVID-19 incident, contributing to a significant increase in demand for deep space robotics.

MARKET PLAYERS

The report covers key developments in the deep space robotics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from deep space robotics market are anticipated to lucrative growth opportunities in the future with the rising demand for deep space robotics in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the deep space robotics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Astroscale
  
•   ASTROBOTIC
  
•   Altius Space
  
•   ISPACE
  
•   Honeybee Robotics
  
•   Made In Space
  
•   Maxar Technologies
  
•   Motiv Space Systems, Inc.
  
•   Northrop Grumman
  
•   Space Applications Services
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Deep Space Robotics Report Scope