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The space lander and rover market share is expected to increase by USD 422.14 mn from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.21%.
This space lander and rover market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers space lander and rover market segmentation by product (lunar surface exploration, mars surface exploration, and asteroids surface exploration) and geography (North America, APAC, Europe, Middle East and Africa, and South America). The space lander and rover market report also offers information on several market vendors, including Airbus SE, Astrobotic Technology Inc., Blue Origin Enterprises LP, CNSA, Deep Space Industries, European Space Agency, Indian Space Research Organisation, Intuitive Machines LLC, ispace Inc., JAXA, Lockheed Martin Corp., Maxar Technologies Inc., Motiv Space Systems Inc., NASA, Northrop Grumman Corp., Planetary Transportation Systems GmbH, Sierra Nevada Corp., Space Applications Services NV, Teledyne Brown Engineering Inc., and The Boeing Co. among others.
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The increase in investments for space explorations across the globe is notably driving the space lander and rover market growth, although factors such as high costs involved in space exploration missions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the space lander and rover industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Space Lander and Rover Market Driver
One of the key factors driving growth in the space lander and rover market is the increase in investments for space explorations across the globe. Rovers are essential equipment for space exploration. Several governments throughout the world are engaged in space exploration missions to discover the presence of water, precious elements, and other compounds on planets. In recent years, governments in major countries, such as the US, China, Russia, France, and Japan, have supported space programs worth billions of dollars. For instance, on July 30, 2020, NASA began its Mars 2020 mission, which involved the employment of the Perseverance rover. Similarly, on July 23, 2020, China launched Tianwen-1, which comprises an orbiter, a lander, and a rover. These rovers aid in the detection of life on Mars, the preservation of biosignatures within existing geological resources, and the identification of minerals and different types of rocks on Mars' surface. The rising investments and the launch of space missions to analyze terrain and study characteristics of soil and rocks are anticipated to propel the growth of the global space lander and rover market.
Key Space Lander and Rover Market Trend
The technological advancements in 3D printing technology is a space lander and rover market trend that is expected to have a positive impact in the coming years. The aerospace industry develops, researches, and manufactures aerial vehicles, such as rockets, spacecraft, rovers, and landers. The growing use of 3D technology in the manufacturing of spaceship components can reduce costs and lead to the production of large, complicated engine components such as combustion chambers. Recent advancements in 3D printing technology have made it a viable tool for producing high endurance and lightweight parts for spacecraft and rovers. For instance, NASA deployed 3D-printed metal parts for its Mars 2020 mission's Perseverance Rover. The Perseverance rover has 11 3D-printed metal components, five of which are on its PIXL device, which will be applied to enhance the rover's search for signs of ancient microbial life using X-rays. Hence, such developments in 3D printing technology will open up more opportunities for more economical space exploration missions. Thus, such factors are expected to drive the growth of the market in focus.
Key Space Lander and Rover Market Challenge
The high costs involved in space exploration missions will be a major challenge for the space lander and rover market during the forecast period. Massive investments are required for space exploration missions to design, test, and launch space equipment. Space vehicles are intended to function in high-temperature and high-pressure environments in space and must be outfitted with cutting-edge communication systems to sustain the continuous connection between the base station and the space probe. Furthermore, because equipment such as robotic arms, sensors, cameras, and solar panels require an error-free and sturdy design to collect physical characteristics and samples on extraterrestrial planets, space rovers suffer enormous expenditures in their construction. Furthermore, launch vehicles that place space rovers in their proper orbits contribute to the overall expenditures of a space research program. Nations such as the US, China, and Japan have supported various space exploration missions in recent years; however, due to the high costs associated with these projects, a large number of nations do not invest in space missions, limiting the global growth of space technologies in underdeveloped countries. Hence, the high cost of space exploration missions is expected to stifle growth in the space lander and rover market
This space lander and rover market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global space lander and rover market as a part of the global aerospace and defense market within the global capital goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the space lander and rover market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the space lander and rover market encompasses successful business strategies deployed by the key vendors. The space lander and rover market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
airbus.com - The company offers space lander and rover products such as the ExoMars rover.
airbus.com - The Airbus segment is involved in manufacturing aircraft for passenger airliners.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The space lander and rover market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the space lander and rover market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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40% of the market’s growth will originate from North America during the forecast period. the US is the key market for space landers and rovers in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.
The growing investment by NASA will facilitate the space lander and rover market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the space lander and rover market in North America witnessed slow growth owing to the outbreak of COVID-19, which severely affected countries such as the US and Canada. The outbreak led to the closure of manufacturing units and other offices. However, in 2021, the initiation of vaccination drives led to the resumption of industrial activities, including the manufacturing of space landers and rovers, and several space projects in the region.
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The space lander and rover market share growth by the lunar surface exploration segment will be significant during the forecast period. The lunar surface exploration segment in the global space lander and rover market is expected to witness significant growth in terms of market revenue when compared with Mars' surface exploration segment during the forecast period. This is due to the rising number of investments in lunar surface exploration missions by several space agencies, such as the National Aeronautics and Space Administration (NASA), the Japan Aerospace Exploration Agency (JAXA), and the Indian Space Research Organization (ISRO).
This report provides an accurate prediction of the contribution of all the segments to the growth of the space lander and rover market size and actionable market insights on post COVID-19 impact on each segment.
Space Habitat market - the market share is expected to increase by USD 94.92 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.41%.
Spacesuit market - The market share is expected to increase by USD 78.39 million from 2021 to 2025, and the market's growth momentum will decelerate at a CAGR of 6.40%.
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Space Lander and Rover Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.21% |
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Market growth 2022-2026 |
$ 422.14 million |
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Market structure |
Fragmented |
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YoY growth (%) |
9.03 |
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Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
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Performing market contribution |
North America at 40% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Airbus SE, Astrobotic Technology Inc., Blue Origin Enterprises LP, CNSA, Deep Space Industries, European Space Agency, Indian Space Research Organisation, Intuitive Machines LLC, ispace Inc., JAXA, Lockheed Martin Corp., Maxar Technologies Inc., Motiv Space Systems Inc., NASA, Northrop Grumman Corp., Planetary Transportation Systems GmbH, Sierra Nevada Corp., Space Applications Services NV, Teledyne Brown Engineering Inc., and The Boeing Co. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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