Report: Space Robotics Market Worth $3.5 Billion by 2025
The space robotics market is predicted to hike from $2 billion in 2018 to around $3.5 billion by 2025, according to a 2019 Global Market Insights report. According to the report, the market is experiencing rapid technical development owing to the integration of Artificial Intelligence (AI) technologies into systems developed for space exploration. Several companies are developing AI-based robots that provide enhanced mobility and manipulation benefits. These machines can perform highly-complex tasks for a longer duration and offer minimal human dependence.
The integration of AI offers 3D perception and proximity GNC to robots, which will support resistance against environmental conditions and offer high flexibility, accuracy and control. In November 2018, an AI-based robot, CIMON, started its first conversation with a spacefaring crew. The robot is designed by DLR Germany in collaboration with IAM and Airbus. Moreover, the increasing number of experiments and projects related to space exploration by government agencies globally is attributing to the demand of the space robotics market.
Robotic arms in the space robotics market are witnessing a high demand for the deployment in advanced space systems. Robotic arms aid astronauts in lifting and handling heavy and large objects in space. Moreover, rovers are spacecraft that use exploration vehicles and perform the transportation of crew members from one spaceflight to another. The companies working in the market are developing partially or fully autonomous rovers for exploration and transportation applications.