February 25, 2024
Ict

Growth Accelerated by the Rising Adoption of Space Robotic Solution for Space Exploration and Satellite Servicing

Space robotic solution provides various advanced robotic technologies such as microgravity robots, space situational awareness solutions, robotics servicing solutions, in-orbit robotic assembly and manufacturing solutions, dexterous robotics, planetary rovers and analytical instruments. Space robotic solutions aid in space exploration, orbital infrastructure building, on-orbit inspection, servicing and repair of satellites.

The global space robotic solution market is estimated to be valued at US$ 5.04 Bn in 2024 and is expected to exhibit a CAGR of 17.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends: The rising adoption of space robots for space exploration expeditions, satellite servicing, in-orbit assembly and manufacturing is one of the major trends fueling the growth of the global space robotic solution market. Space robots provide efficient and cost-effective solutions for complex space activities. For instance, in 2024, NASA plans to launch the VIPER (Volatiles Investigating Polar Exploration Rover) to the Moon’s south pole region to study the presence of water ice and examine other resources on the Lunar surface. Space robots with advanced dexterous robotic arms, grippers, cameras can efficiently perform complex tasks like inspection, refueling, repairing and upgrading of satellites in orbit, thereby extending their lifespan significantly. This reduces launch costs and spacelift requirements.

Key players operating in the global space robotic solution market are Maxar Technologies, Motiv Space Systems, Altius Space Machines, Astrobotic Technology, Made In Space, Northrop Grumman, Honeybee Robotics, Effective Space Solutions, Bradford Space, Olis Robotics, Metecs, Astroscale, D-Orbit SpA, ClearSpace, Space Applications Services, Kepler Communications, Kubos, SpiderFab, Tethers Unlimited, MDA. Maxar Technologies and Northrop Grumman captured over 15% share each owing to their dominance in orbital systems and robotic technologies.

Segment Analysis
The global space robotic solution market is dominated by space robot assembly subsegment which held around 35% share in 2023.Space robot assembly subsegment deals with assembly, maintenance and servicing of spacecrafts and satellites in orbit which requires advanced space robots. This subsegment is dominating as majority of space agencies and private space companies are increasingly focusing on in-orbit services for assembly and maintenance of satellites and space infrastructure to extend their life and re-usability.

Regional Analysis: North America currently dominates the market owing to presence of major space agencies like NASA and private space firms. The region held around 45% share in 2024 and is expected to continue its dominance led by ongoing and planned satellite constellation programs and deep space exploration missions.

Key Takeaways
The global space robotic solution market is expected to witness high growth over the forecast period driven by rising investments in space programs by governments and private players.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it