Space Robotics Market by
Solution, Services (Satellite Servicing, On-orbit Assembly & Manufacturing,
De-orbiting Services, Re-supply, Surface Mobility, & Launch Support), Application,
End-User, and Region - Global Forecast to 2023", the robotic spacecraft
market is estimated to be USD 2.88 billion in 2018 and is projected to reach
USD 4.36 billion by 2023, at a CAGR of 8.64% from 2018 to 2023
Based on solution, the satellite
servicing segment is estimated to lead the space robotics market in 2018.
Growth of this segment can be attributed to an increase in the number of
satellites required to be retired every year, advancements in the autonomous
systems technology, and increase in space exploration activities are expected
to lead to the expansion of capabilities of satellite operators, space
agencies, and satellite manufacturers, among others.
Based on application, the near
space segment is projected to grow at the highest CAGR during the forecast
period
Based on application, the
in-space maintenance & inspection su bsegment of the near space segment is
expected to grow at the highest CAGR during the forecast period. Growth of this
segment can be attributed to several scheduled space exploration missions in
the near future, which are expected to require satellite servicing and on-orbit
manufacturing and assembly, contributing to the growth of the near space segment
of the space robotics industry. For instance, Made In Space (US), a US-based
company, worked with NASA to create a 3D printer for the manufacture and
development of space systems in the International Space Station (ISS). Made in Space
is working on a new 3D printer, Archinaut, which is expected to be able to 3D
print the entire exterior of the satellite station.
Based on end user, the commercial
segment of the space robotics market is projected to grow at a higher CAGR from
2018 to 2023
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Based on end user, the commercial
segment is expected to grow at a higher CAGR, as compared to the government
segment during the forecast period. The growth of the commercial segment can be
attributed to the focus of various commercial space entities on space robotics
for satellite operations, space exploration activities, on-orbit manufacturing
& assembly operations in the solar system and beyond planet Earth.
Basis of platform, the military
robots industry has been segmented into land robots, marine robots, and
airborne robots. The land robots segment is projected to grow at the highest
CAGR during the forecast period. The rising demand for land robots can be
attributed to several factors, including increasing demand for land robots in
counter-IED operations, replacement of existing warfare platforms with unmanned
systems, etc.
The number of military robots in
the defense sector has increased considerably in the past few years, mainly
driven by the high number of new robotic platforms manufactured worldwide.
These unmanned platforms are needed with weapons and sensors that can be
operated remotely and safely. The overall industry is led by the Intelligence,
Surveillance, and Reconnaissance (ISR) application segment, and this segment is
expected to witness considerable growth in the coming years.
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Based on mode of operation, the
military robots market is led by the human operated segment. The autonomous
segment is expected to grow at the highest CAGR in the coming years; this can
be attributed to the growing demand for fully and semi-autonomous military
robots.
The Europe military robots market
is expected to exhibit the highest growth during the forecast period. A key
driver of the military robots market in the European region is the continuous
upgrade of warfare platform for technology. France, Germany, and the UK are the
major countries that are investing in military robots and related technologies.
The Asia Pacific region is
projected to grow at the highest CAGR during the forecast period in the
robotics and automation actuators market.
The robotic and automation
actuators market has been growing at a significant rate, and this trend is
expected to continue during the forecast period. However, development of
advanced and cost-effective robotics and automation actuators, and increasing
demand for industrial robots and process automation in different industrial
verticals are some of the opportunities impacting the growth of the robotics
and automation actuators industry. China
and Japan are primarily investing in robotics and automation to enhance and
gain a tactical edge. This is an excellent opportunity for robotics and
automation actuator manufacturers to strengthen their businesses in the Asia
Pacific region.
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Exhaustive secondary research was
undertaken to obtain information on the Aviation MRO market, the peer market,
and the parent market. The next step was to validate these findings,
assumptions, and sizing by industry experts across the value chain through
primary research. Both, top-down and bottom-up approaches were employed to
estimate the complete market size. Thereafter, market breakdown and data
triangulation were used to estimate the size of segments and subsegments.
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