Space Robotics Market in commercial applications are growing due to technical advancements and various exploration missions adopted by governments along with companies. In March 2019, SpaceX announced the launch of Crew Dragon’s demonstration mission, which was intended for demonstrating the company’s capabilities including safety of astronauts to fly to and from the International Space Station. The spacecraft is America’s first one to autonomously dock along with the orbiting laboratory. The segment includes companies that include satellite operators & private owners, launching service providers, and exploration companies, which aid in the proper functioning of spaceflights, adding up to the market growth.
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Rising enterprise and government spending towards development of space exploration technologies has propelled the space robotics market revenues, as efforts are being made to bring more efficiency into activities like equipment maintenance, satellite assembly and extraterrestrial surveys. Essentially, performing physical tasks in the orbit not only present risks for astronauts, but also require high levels of precision and control. Robotic arms or manipulator systems can provide the necessary accuracy and automation to safely repair and maintain spatial objects. Continuous improvement of automated systems and the ability of robots to significantly increase productivity will fuel the space robotics industry expansion.
In the space robotics market, products including rovers, probes, and arms are increasingly used in both deep and near space-related projects. Robotic arms are capable of cleaning litter and debris produces in space due to lost equipment and old satellites orbiting around the planet. The increasing need to clean the debris, which is a threat to existing satellites, spaceships, and astronauts is increasing the demand for probes and arms. Governmental organizations are developing efficient robotic arms for various projects, which will aid in performing maintenance & research related tasks to astronauts. For instance, in March 2019, Canada announced an investment of USD 1.4 billion in NASA?s Lunar Gateway Program and offered a robot arm that will aid the continuous functioning of the lunar-orbiting base.
Over the past few years, thousands of satellites have been launched into earth’s orbit, while aerospace companies have attempted to realize commercial space flights and make them affordable. All the while, governments are funding projects to explore interplanetary surfaces, the most notable being Mars exploration. The space robotics market can be pegged as a vital component of these projects, since equipment like rovers and probes are valuable in investigating surfaces and collecting samples using robot arms. Activities like placing a satellite into orbit, collecting and providing information on space aircraft functions and assisting flight crew in handling spatial objects can be done cost-effectively and without delays by using robotic equipment.
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Asia Pacific Space Robotics Market is expected to grow over the forecast time span owing to many space exploration & research projects in countries including China, Japan, and India, majorly driving the industry growth. For instance, in January 2019, the Indian Space Research Organization (ISRO) announced that the country?s first unmanned space mission will include a humanoid robot, which is in the development stage and has multilingual features. China is also involved with several projects for space & moon exploration, which will add up to industry development prospects.
North America is a leading participant in the market owing to the presence of national organizations, including NASA and CSA, that are actively working toward the industry development. The U.S. and Canada are investing huge amounts in R&D and technology enhancement to achieve space exploration initiatives. The Asia Pacific space robotics market is also growing at a rapid pace in countries including India, Japan and China due to several on-going and upcoming space projects. In September 2018, Japan Aerospace Exploration Agency announced that its two rovers had successfully landed on an asteroid named Ryugu and started a survey on its surface. These robots are efficiently working in the low gravity environment, allowing them to gain knowledge on Ryugu’s physical aspects.
In a nutshell, the space robotics industry is gradually expanding in terms of commercial applications, as launching and maintaining satellites is crucial for the global communications industry which provides connectivity, entertainment and geospatial mapping services. Touted to progress significantly through strategic collaborations between the public and the private sectors, the space robotics market is projected to surpass annual revenues of USD 3.5 billion by 2025.
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