Goto

Collaborating Authors

 space robotic market


US Space Robotics Market Expected to Reach $4 Billion by 2023 - Via Satellite -

#artificialintelligence

The value of the U.S. space robotics market is expected to grow to $4.36 billion by 2023. Growing importance of on-orbit satellite servicing, on-orbit manufacturing, assembly in space, and focus of government agencies and commercial entities on space robotic solutions are driving the space robotics market. The space robotics market is estimated to grow from $2.88 billion in 2018 to $4.36 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 8.64 percent from 2018 to 2023. Increased investments in space exploration missions, growing demand for Geostationary Orbit (GEO) satellite servicing, on-orbit manufacturing and assembly, debris removal, and technological advancements in autonomous systems are key factors anticipated to drive the growth of the space robotics market. Growth can also be attributed to the increasing demand for space robotics solutions from commercial, government, organizations, space agencies, defense organizations, and satellite operators as well as NewSpace companies.