Space Robotics Industry Size Expected to Grow at a CAGR over 8.6% from 2019 to 2025

 

Industry Forecast

Space Robotics Industry is projected to be valued at USD 5.24 Billion by 2025, registering a CAGR of 8.6% from 2019 to 2025.

The increasing number of space exploration missions by private firms is driving the growth of the Industry. Furthermore, the rising number of GEO satellites across the globe is projected to aid Industry growth.

Industry USP

Reduced risk to human life

Growth Opportunities in the Industry

Services segment accounted for the larger Industry share in 2018: The services segment is also expected to register the higher CAGR during the forecast period. The high growth can be attributed to the increasing demand for on-orbit assembly and manufacturing, satellite repair, space debris removal, and launch support services.

Near space segment to be the fastest-growing: The near-space segment is expected to exhibit the highest CAGR during the review period. The increasing number of high-altitude satellites for communication and surveillance is driving the growth of this segment.

Government segment to register the highest CAGR: The government segment is expected to be the fastest-growing during the review period. The increasing space exploration activities using robots by the governments of the US, China, Russia, and India are driving the growth of the segment.

Key Players

Altius Space Machines (US)

Astrobotic Technology (US)

Effective Space Solutions Ltd (UK)

Honeybee Robotics (UK)

Ispace (Japan)

Maxar Technologies (US)

Metecs (US)

Motiv Space Systems, Inc. (US)

Northrop Grumman Corporation (US)

Olis Robotics (US)

Browse Full Report Details @ https://www.Industryresearchfuture.com/reports/space-robotics-Industry-8555

 

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