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Space Robotics Market Trends

Report ID: GMI3219
Published Date: Aug 2024
Report Format: PDF

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Space Robotics Market Trends

Advancements in in-space servicing, assembly, and manufacturing (ISAM) are set to transform the development and maintenance of space infrastructure. This innovative approach utilizes autonomous space robots for tasks such as satellite servicing, on-orbit assembly of large structures, and in-space component manufacturing. The drive behind ISAM is to lower the cost and complexity of space missions by facilitating construction and repairs directly in space. Key innovations, including sophisticated simulation tools, efficient power systems, and high-fidelity sensors, are making these capabilities increasingly feasible.

For instance, in April 2024, Southwest Research Institute (SwRI) showcased its advanced space robotics capabilities at the 39th Space Symposium. SwRI's Intelligent Systems Division focuses on in-space servicing, assembly, and manufacturing (ISAM) with innovations like high-fidelity simulations and efficient low-power vision systems. These developments aim to bridge the gap between Earth-based industrial robots and future space infrastructure needs.

Authors: Suraj Gujar, Rutvij Kshirsagar

Frequently Asked Questions (FAQ) :

The market size for space robotics was valued at USD 4.65 billion in 2023 and is anticipated to grow at over 5% CAGR between 2024 and 2032 owing to the increased number of space missions.

The deep space segment in the space robotics market is expected to reach over USD 4 billion by 2032 due to the expanding interest in exploring beyond Earth

North America market accounted over 35% share in 2023 backed by the deployment of advanced robotic systems.

Astrobotic Technology, Honeybee Robotics, Intuitive Machines, LLC., Maxar Technologies, Northrop Grumman, Oceaneering International, Inc., and Sierra Nevada Corporation.