The space
robotics market is estimated to be USD 2.88 billion in 2018 and is
projected to reach USD 4.36 billion by 2023, at a CAGR of 8.64% from 2018 to 2023.
Increasing investments in space exploration missions, demand for satellite
servicing, on-orbit manufacturing and assembly, debris removal, and
technological advancements in autonomous systems, are fueling the growth of the
space robotics market.
Based on solution, the satellite servicing
segment is estimated to lead the space robotics market in 2018
Based on solution, the satellite servicing
segment is estimated to lead the space robotics market in 2018. Growth of this
segment can be attributed to an increase in the number of satellites required
to be retired every year, advancements in the autonomous systems technology,
and increase in space exploration activities are expected to lead to the
expansion of capabilities of satellite operators, space agencies, and satellite
manufacturers, among others.
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Based on application, the near space segment
is projected to grow at the highest CAGR during the forecast period
Based on application, the in-space
maintenance & inspection subsegment of the near space segment is expected
to grow at the highest CAGR during the forecast period. Growth of this segment
can be attributed to several scheduled space exploration missions in the near
future, which are expected to require satellite servicing and on-orbit
manufacturing and assembly, contributing to the growth of the near space
segment of the space robotics market. For instance, Made In Space (US), a
US-based company, worked with NASA to create a 3D printer for the manufacture
and development of space systems in the International Space Station (ISS). Made
in Space is working on a new 3D printer, Archinaut, which is expected to be
able to 3D print the entire exterior of the satellite station.
Based on end user, the commercial segment of
the space robotics market is projected to grow at a higher CAGR from 2018 to
2023
Based on end user, the commercial segment is
expected to grow at a higher CAGR, as compared to the government segment during
the forecast period. The growth of the commercial segment can be attributed to
the focus of various commercial space entities on space robotics for satellite
operations, space exploration activities, on-orbit manufacturing & assembly
operations in the solar system and beyond planet Earth.
North America is expected to grow at the
highest CAGR in the space robotics market during the forecast period
The space robotics market in North America is
projected to grow at the highest CAGR during the forecast period. This high
growth can be attributed to increasing investments in space exploration
missions, and increasing space exploration activities by the US and Canada,
demand for satellite servicing, and on-orbit manufacturing and assembly, debris
removal, and technological advancements in autonomous systems. Also, growth can
be attributed to the increasing demand for space robotics from commercial,
government, organizations, space agencies, defense organizations, and satellite
operators as well as NewSpace companies.
Some of the major companies providing space
robotics solutions include Altius Space Machines (US), Maxar Technologies (US),
Motiv Space Systems (US), Space Systems/Loral (US), Honeybee Robotics (US),
Astrobotic Technology (US), Made In Space (US), Effective Space Solutions
Limited (UK) and Northrop Grumman (US). These key market players offer various
space robotics solutions and robotics & subsystems, sensors &
autonomous systems, software and robotic services, such as satellite servicing,
on-orbit assembly and manufacturing, surface mobility, and de-orbiting services,
among others. New product developments, partnerships, and contracts are the
major growth strategies adopted by these players to enhance their positions in
the space robotics market.
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