PUBLISHER: The Business Research Company | PRODUCT CODE: 1668604
PUBLISHER: The Business Research Company | PRODUCT CODE: 1668604
Space robotics has emerged as a cutting-edge field in science and engineering, specifically tailored for space exploration and missions. The unique challenges of space environments, characterized by hostility, microgravity, and extreme temperatures, necessitate the development of specialized robotic systems.
The primary categories of space robotics encompass remotely operated vehicles (ROVs), remote manipulator systems, and associated software and services. Remotely operated vehicles, or ROVs, represent unmanned and highly maneuverable vehicles that are remotely controlled. These vehicles serve a crucial role in investigating locations that are otherwise inaccessible. Their applications extend to diverse environments, including deep space, near space, and planetary surfaces. Both commercial and government entities benefit from the versatility of ROVs in fulfilling various mission objectives, making them integral components of space exploration endeavors.
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The space robotics market size has grown strongly in recent years. It will grow from$4.84 billion in 2024 to $5.18 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to space exploration initiatives, government space programs, commercial space industry growth, rise of private space companies, advancements in ai and automation
The space robotics market size is expected to see strong growth in the next few years. It will grow to $7.06 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to increased space exploration missions, growth of commercial space industry, space mining opportunities, satellite constellations deployment, planetary colonization initiatives. Major trends in the forecast period include miniaturization and efficiency, autonomy and ai integration, modular and adaptable systems, interplanetary exploration focus, on-orbit servicing demands.
Investment growth in space missions is anticipated to drive the expansion of the space robotics market in the future. This increase represents a rise in funding dedicated to space exploration and development. Greater investment in space missions is likely to result in more funding for space robotics, facilitating significant technological advancements. For example, in May 2023, the European Space Policy Institute, an independent think tank based in Austria that offers insights on mid- to long-term space-related issues, reported that European space start-ups garnered a record $1.2 billion in investment in 2022, reflecting a 23% increase from the previous year. Thus, the rising investments in space missions are propelling the growth of the space robotics market.
The growing prevalence of space exploration activities is another key factor contributing to the upward trajectory of the space robotics market. Space exploration activities encompass scientific investigations, exploration, and study beyond Earth's atmosphere, utilizing spacecraft, satellites, probes, and occasionally human missions to explore celestial bodies. Space robotics play a crucial role in enhancing the efficiency, safety, and capabilities of space exploration missions, enabling scientists and engineers to perform diverse tasks and experiments in the challenging and remote environment of outer space. Notably, reports from August 2023 indicate that 55% of Americans believe that, within the next 50 years, routine space travel will become a reality. Furthermore, Fortune reported in July 2023 that the global space economy witnessed an 8% increase to reach $546 billion in 2022, with an anticipated 41% growth over the next five years. In light of these trends, the increasing prevalence of space exploration activities emerges as a significant driver for the growth of the space robotics market.
Leading companies in the space robotics market are concentrating on developing advanced products, such as robotic lunar landers, to improve exploration capabilities, facilitate payload delivery to the moon, and support a growing range of commercial and scientific missions within the expanding space economy. Robotic lunar landers are automated spacecraft designed to deliver payloads to the moon's surface, enabling scientific exploration, technology demonstrations, and commercial activities without human involvement. For example, in April 2022, Astrobotic, a US company specializing in space robotics technology for lunar and planetary missions, launched the Peregrine Lunar Lander. This sophisticated spacecraft is engineered for precise payload delivery to the moon's surface, utilizing advanced autonomous landing technologies and a robust propulsion system. Its innovative design allows for flexible payload integration, accommodating various scientific instruments and technology demonstrations for lunar exploration. By leveraging cutting-edge navigation systems, including Doppler LiDAR and Terrain Relative Navigation, the Peregrine aims to enhance the capabilities of space robotics in supporting future lunar missions and scientific research.
Strategic partnerships have become a prominent strategy among major companies operating in the space robotics industry. This collaborative approach involves leveraging complementary strengths and resources to achieve mutual benefits and foster sustainable growth. A case in point is the partnership between PickNik Robotics and Motiv Space Systems Inc., both US-based companies. This alliance, formed in April 2023, aims to enhance robot arm performance for both internal and external vehicle operations. The specific focus is on advancing in-space servicing, assembly, and manufacturing, contributing significantly to the development of the space robotics market. The collaboration seeks to harness the combined expertise and technologies of the two companies to drive innovation in space robotics and facilitate the evolution of next-generation space exploration capabilities.
In January 2022, Blue Origin, LLC, a US-based aerospace, defense, and space exploration company, executed an acquisition of Honeybee Robotics for an undisclosed amount. This strategic move is aligned with Blue Origin's objective of streamlining space activities and expanding access to space resources for the benefit of Earth. Honeybee Robotics, Ltd., a US-based company specializing in the development and manufacturing of robotics for broader space exploration and resource utilization, is expected to play a pivotal role in supporting Blue Origin's mission. The acquisition underscores the industry trend of strategic collaborations and acquisitions as a means to accelerate growth and achieve overarching objectives in the space robotics market.
Major companies operating in the space robotics market include Northrop Grumman Corporation, Altius Space Machines Inc., Astrobotic Technology Inc., Honeybee Robotics Ltd., Maxar Technologies Inc., Motiv Space Systems Inc., Oceaneering International Inc., Olis Robotics, Intuitive Machines LLC, Effective Space Solutions Ltd., Stinger Ghaffarian Technologies Inc. (SGT), GITAI Inc., Ispace Inc., Lockheed Martin Corporation, ABB Ltd., NVIDIA Corporation, Blue Origin LLC, Boeing Company, Space Exploration Technologies Corp. (SpaceX), IHI Corporation
North America was the largest region in the space robotics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global space robotics market during the forecast period. The regions covered in the space robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the space robotics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The space robotics market consists of sales of manipulators, mobile, humanoid, and flying or floating robots. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Space Robotics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on space robotics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for space robotics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The space robotics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.