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

MARKET OVERVIEW

Space robotics are the machines that are capable of surviving in the space environment and perform their tasks. Many space missions are suited to the robotics system rather than crewed operation, hence rising demand for the space robotics market. Increasing space innovation across the globe, also growing investment by the government in space missions, is increasing demand for the space robotics market.

MARKET SCOPE

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

MARKET SEGMENTATION

•   Based on solution, the market is segmented into products and services
  
•   On the basis of application, the market can be segmented into deep space, near space, ground.
  
•   Based on end user, the market is segmented into commercial and government.
  

MARKET DYNAMICS

Drivers:

•   Space robotics solutions generally operate for a long time, are less risky, and prove to be more cost-effective
  
•   Space robotics have the ability to do multiple tasks such as inspection, deployment, maintenance, retrieval, exploration
  
•   Increasing activity of satellite servicing, on-orbit assembly, de-orbiting service, also expanding the use of rovers, spacecraft, manipulator
  

Restraints

•   Time delay, manipulation, and high manufacturing costs of space robotics solutions
  

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), the Middle East and Africa (MEA), and South America. The vinegar market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 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 marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the space robotics market in these regions.

IMPACT OF COVID-19 ON SPACE ROBOTICS MARKET

The economic crisis caused by the COVID-19 pandemic and the population containment measures have influenced organizations to restructure their strategies and operations in the evolution of space activities. It has a differentiated impact on different strata of space industry including the space robotics market. Particularly small and medium-sized enterprises constitute the bulk of commercial players in the space industry are struggling to cope with the current COVID-19 crisis. The medium and long-term effects of the crisis on government budgets and customer demand is that there will be significant reduction in funding in future institutional space or related programs. Further, due to several restrictions and limitations on the global level, launch schedules have been postponed, satellite production lines have slowed down or stopped and private financing has dried up, thus adversely affecting the global space robotics market.

MARKET PLAYERS

The report covers key developments in the 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 space robotics market are anticipated to lucrative growth opportunities in the future with the rising demand for 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 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.

•   Altius Space Machines
  
•   Astrobotic Technology
  
•   Effective Space Solutions Limited
  
•   Honeybee Robotics
  
•   Ispace
  
•   Made In Space
  
•   Maxar Technologies
  
•   Metecs
  
•   Motiv Space Systems
  
•   Northrop Grumman
  

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.

Space Robotics Report Scope