Space Robotics Market estimated to grow at a CAGR of 10.2% in the forecast period (2020-2025)
The report on the Space Robotics Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2020-2025.
Feb 05, 2021/IndustryNewsGlobal/--The report on the Space Robotics Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2020-2025. The report also offer insights into different market segments and other factors affecting the market.
Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Space Robotics Market is expected to inflate at a CAGR of 10.2% by the forecast period (2020 – 2025).
Highlights of the Report:
Based on the solution type, the market is segmented as services and products. The satellite servicing segment led the market in 2018, and is estimated to remain dominant during the forecast period. The growth of the satellite servicing segment can be attributed to the escalating demand and requirement for space-based services, such as satellite servicing, de-orbiting services, surface mobility, and resupply services.
Based on the application type, the market is segmented as deep space, near space, and ground. The near space segment is estimated to register the highest growth in the coming five years. This growth of the segment can be credited to the claim for resupply missions for the International Space Station (ISS), on-orbit satellite engineering, and increasing requirement to service prevailing geosynchronous satellites.
Based on the end-user type, the market is segmented as commercial and government. The commercial segment is expected to depict a higher growth against the government segment, during the forecast period, driven by the increasing demand for satellite servicing, refueling and mission extension services which provide prospects for satellite operators/owners by extending the life of satellites and hence, generate profits from prevailing satellite fleets, and deliver enhanced flexibility in handling in-orbit satellite fleets.
In terms of regions, North America was expected to register the largest share of the space robotics market in 2018, and the region is expected to continue its dominance during the forecast period as well. The market is driven by high demand for space robotic activities from prominent establishments, such as NASA and the Department of Defense, owing to the rising dependence on space resources and for empowering safety in space operations. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key Players of the Market
Some of the major players in the space robotics market are Altius Space Machines, Astrobotic Technology, Effective Space Solutions, Honeybee Robotics, ITT Corporation, Maxar Technologies, Motiv Space Systems, Northrop Grumman, Olis Robotics, and Stinger Ghaffarian Technologies (SGT).
Features of the Report
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. Here are the key features of the report:
- Strategic Segmentation
- Competitive Analysis
- Strategic Growth Opportunities
- Swot Analysis
- Key Players
- Forecast Analysis & Future Growth