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Space robots are self-controlled device consisting of mechanical, electrical, and electronic components which can function in place of a living agent. Space robots are capable of surviving harsh environment of space and can perform functions such as construction, maintenance, exploration, servicing of spatial satellites, etc. Remotely operated vehicles (ROV) and remote manipulator system (RMS) are the two major types of space robots. The space robotics industry is achieving high growth due to its benefits such as better productivity, cost effectiveness, and the ability to perform in harsh situations as a human substitute. Space robots are expected to carry out the future of deep space exploration. For instance, robotic arms help astronauts in lifting & handling of heavy & large objects in space. Moreover, rovers are spacecraft which uses exploration vehicles and perform the transportation of crew members from one spaceflight to another.
COVID-19 Scenario analysis:
Increase in government spending in deep space research projects, increasing levels of robotic autonomy, and increase in number of space research & exploration projects across the globe are some of the major factors which drive the deep space robotics market. However, regulatory implementations by several space regulatory authorities is expected to hamper the growth of the deep space robotics market. On the contrary, rising investments in private companies of space robotics is further expected to contribute in the growth of the deep space robotics market.
Several private companies are gaining high investments for their space projects. For instance, Zero 2 infinity (a private Spanish aerospace company) has received the investment of 1.3 million USD from Crowdcube in 2018. Hence, such rise in investment in private companies will contribute positively in the growth of deep space robotics market.
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Questions answered in the deep space robotics market research report:
Deep Space Robotics Market Report Highlights
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Key Market Players | Northrop Grumman Corporation, Made In Space, iSpace, Space Applications Services, Motiv Space Systems Inc., Honeybee Robotics, Maxar Technologies, Altius Space., ASTROBOTIC, Effective Space Solutions Limited |
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