May 22, 2024

Global Space Robotic Solution Market Propelled by Enhanced Remote Monitoring Capabilities

Global space robotic solution market enables remote operations and monitoring of space assets through robotics. Space robotic solutions including robotic arms, free flyers, and space tugs help deploy, retrieve and maneuver spacecraft in orbit.

They facilitate maintenance and repair of satellites, space stations and other assets in space. 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:

Enhanced remote monitoring capabilities offered by space robotic solutions are propelling the market growth. Space robotic arms equipped with cameras, sensors and other payloads allow operators to remotely visualize, inspect and interact with space objects. This enables constant condition monitoring of satellites and space stations without the need for human presence in space. Robotic arms and free flyers deployed for spacecraft servicing and assembly can stream live video feed and transmit telemetry data back to control stations on earth. Advanced robotics with autonomous capabilities further augment remote monitoring by reducing dependency on human operators. Growing need for lifetime extension of satellites through efficient in-space servicing is another major factor driving increasing adoption of space robotic technology

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.

SWOT Analysis
Strength: Space robotic solutions offer increased capabilities for space missions through automation and remote operations. They reduce mission risks and costs compared to conventional astronaut-based missions.
Weakness: Designing robots for the harsh conditions of space such as vacuum environment and temperature extremes is technologically challenging. Space robots also have limited capability compared to human astronauts for complex tasks requiring dexterity and decision making.
Opportunity: Growing satellite manufacturing and increasing small satellite launches are driving demand for on-orbit satellite servicing robots. Emerging in-space transportation and infrastructure construction also provides opportunities.
Threats: Technical failures and crashes of rockets carrying space robots can setback programs and increase costs. Delays in developing key technologies like refueling and on-orbit assembly also impact market growth.

Regional analysis: North America currently dominates the market due to massive investments by NASA and private space companies based in the US. However, Asia Pacific is emerging as the fastest growing region with countries like China, India and Japan ramping up national space programs and robotic technology development.

Key Takeaways
The global space robotic solution market is expected to witness high growth over the forecast period supported by increasing application in satellite servicing, transportation and assembly tasks.

*Note:

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