Space Robotics Market worth $4.36 Billion by 2023
New York, NY, Jan-16, 2020 / (Aerospace NEWS)-According to the new research report "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
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Global
Forecast
to
2023",
published
by
MarketsandMarkets™, the space robotics 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. Don't miss out on business opportunities in Space Robotics Market.
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Increasing investments in space exploration missions, demand for satellite servicing, on-orbit manufacturing and assembly, debris removal, and technological advancements in autonomous systems, are fueling the growth of the space robotics market. Based on solution, the satellite servicing segment is estimated to lead the space robotics market in 2018 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.