Space Robotics Market

Technological Growth of Space Robotic Solutions Market

Space robotic solutions are an essential part of space operations; these solutions are required for space operations in earth orbit for tasks effectively and affordably, with limited risks for the manufacture of satellites in space. Robots have various uses in space applications, such as in-space 3D printing, space operations/scientific experimentation, space transportation, space exploration, and in-space maintenance & inspection. Spacecraft and rovers form a part of planetary robotics and are used to explore the solar system or planetary bodies. Space robotics helps in the servicing and maintenance of satellites as well as assists in the delivery of technologies necessary for object handling, manipulation, and assembly of satellite parts and International Space Station construction equipment. The growth of the space robotics market can be attributed to factors, such as increasing investments in space exploration missions, demand for satellite servicing, and on-orbit manufacturing and assembly, debris removal, and technological advancements in autonomous systems. These are key the factors anticipated to drive the growth of the space robotics market during the forecast period.

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. Growth of this market can be attributed to the increasing demand for space robotics for space operations, such as satellite servicing, on-orbit assembly and manufacturing, satellite servicing & maintenance, and deep exploration activities.

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Some of the major players in the space robotics market include Altius Space Machines (US), Maxar Technologies (US), Motiv Space Systems (US), Honeybee Robotics (US), Astrobotic Technology (US), Made In Space (US), Effective Space Solutions Limited (UK), and Northrop Grumman (US). These key players offer various space robotics solutions, including robotics and subsystems, sensors and autonomous systems, and software and services They focus on both, organic and inorganic growth strategies to strengthen their positions in the space robotics market.

Maxar Technologies (US) is a leading provider of space technology solutions and services for commercial and government markets. The company represents major business units, including MDA, SSL, DigitalGlobe, and Radiant Solutions, which were formerly among the leading players in the space industry. Recently, in July 2018, MDA, a Maxar Technologies company (formerly MacDonald, Dettwiler and Associates Ltd.) received a contract worth USD 1.3 million from the UK Space Agency (UKSA) to develop leading-edge space robotics capabilities in the UK.

The company offers a broad range of products and services through its portfolio, ranging from satellites, Earth imagery, and geospatial data and analytics. The company focuses on customers that have strong recurring revenue potential. The company also invests significantly in research & development activities.

Northrop Grumman (US) has a strong customer base in the aerospace and defense industry. It has a wide geographical reach and a broad product portfolio. In 2018, the company acquired Orbital ATK, which added to the company’s space capabilities. The company focuses on acquiring government contracts to increase its revenue in the space segment.

Honeybee Robotics (US), a subsidiary of Ensign-Bickford Industries (EBI), designs and develops advanced robotics and electromechanical systems for the space industry. In May 2017, Honeybee Robotics received 4 NASA Small Business Innovation Research (SBIR) Phase I contracts and 2 NASA Small Business Technology Transfer (STTR) Phase I contracts to develop new spacecraft systems and enabling technologies.  The company provides end-to-end solutions to solve customers’ problems and provide robotic solutions for extreme environments. The company is majorly focused on acquiring government contracts to increase its share in the space robotics market.

Related Reports:

Space Robotics Solution Market by Solution, Services (Satellite Servicing, On-orbit Assembly & Manufacturing, De-orbiting Services, Re-supply, Surface Mobility, & Launch Support), Application, End-User, and region - Global Forecast to 2023

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Report Code
AS 6651
RI Published ON
10/3/2018
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