Renowned Players
Some of the most renowned market players are Honeybee Robotics (UK), Effective Space Solutions Ltd (UK), Maxar Technologies (US), Metecs (US), Motiv Space Systems, Inc. (US), Ispace (Japan), Northrop Grumman Corporation (US), Olis Robotics (US), Astrobotic Technology (US), Altius Space Machines (US), to name a few.
Market Insight
Space robotics market 2020 can potentially touch USD 5.24 Billion by 2025, suggests MRFR (Market Research Future). MRFR also expects the market’s growth rate to be 8.6?tween 2019 and 2025 (assessment period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Growth Inducers and Primary Barriers
Space robotics has emerged as a lucrative field, dealing with producing general purpose machineries that can bear extreme space environment and efficiently perform maintenance, exploration, servicing and development activities. Space robots are being increasingly used in the aerospace industry, since these help bring down the costs and speed up the schedules, with low risk and are also known for performing better than humans. Governments in India, Canada and the U.S. are continuously taking up initiatives for developing and manufacturing new satellites and spacecraft. Also, emergence of GEO satellites and various advanced robotic technologies can be favorable for the space robotics market.
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Heightened demand for satellite servicing, increasing spending on space exploration activities and the surging demand for on orbit assembly as well as debris removal also benefit the space robotics market. Innovative deployment of space robots in deep space, around the space and ground by government and commercial sectors is expected to favor the global market as well. Smart robots perform as rovers, dexterous manipulators, free flyers and large manipulators, with widespread use by nations such as Canada, the U.S, Japan, and various European countries. Escalating use cases of space robots in space 3D-printing, space transportation, space exploration and space maintenance and inspection applications are anticipated to foster the growth of the space robotics market in the ensuing years.
Product launches, innovations, partnerships, and joint ventures remain the top competitive strategies adopted by top vendors that intend to stay relevant in the global market. The cut-throat rivalry is encouraging players to focus on developing innovative technologies that could help them get ahead in the race. A case in point, in May 2020, Motiv Space Systems launched xLink space-rated modular robotic arm system, which can be used for every existing and planned space-rated robotic manipulation application. The robotic system is equipped with a host of actuation features along with force-torque sensors, end effectors as well as tool changing capabilities.
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Table of Contents
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
5 GLOBAL Space Robotics Market, BY PLATFORM
Continued….
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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