Global Space Robotics Market is Estimated to Reach $5 Billion by 2025, Says Accurize Market Research
Global Space Robotics Market report published by Accurize Market Research forecast that the global market is expected to reach $5 billion by 2025; growing at a CAGR of 8.9% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Growing demand for geostationary satellite servicing in various scientific sectors to drive the growth of the market
Growing demand for geostationary satellite servicing in various scientific sectors fuels the demand for the global space robotics market. Furthermore, rising demand for microgravity and planetary robotic process automation in different energy verticals and integration of Space Robotics with IT corporates also boosts the growth of the market.
Market Segmentation
The global space robotics market has been bifurcated on the basis of solution, application, end-user, and geography. The solution segment can be further segmented into products and services. The product segment is further divided into robotics and subsystems, sensors and autonomous systems, software, and services segments. The application segment can be bifurcated into deep space segment, near space, and ground. Furthermore, the end-user segment includes government and commercial. The government segment is further divided into space agencies, and departments of defense, among others.
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By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S. and Canada are covered under North America wherein Europe covers U.K, Germany, France, Russia, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. RoW covers South America, the Middle East, and Africa.
Top players in the market
The key market players include Altius Space Machines, Astrobotic Technology, Olis Robotics, Effective Space Solutions, Honeybee Robotics, Espace, Made in Space, Maxar Technologies, Metrics, Northrop Grumman and Motiv Space Systems, among others.
