Dublin, Dec. 21, 2021 (GLOBE NEWSWIRE) -- The "Space Lander and Rover Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2030)" report has been added to ResearchAndMarkets.com's offering.
The space lander and rover market is projected to register a CAGR of over 9% during the forecast period.
The Covid-19 pandemic has impacted the space industry in several ways in 2020. The economic crisis triggered by the pandemic is expected to result in a slowdown of investments in the short term. On the other hand, the supply chain bottlenecks have resulted in the postponement of launch schedules in 2020. Nevertheless, the impact is short-lived and several players were back on schedule for their upcoming space projects by the end of the year.
The space sector is currently attracting huge investments, and the demand for activities, like interplanetary exploration and potential space mining, is expected to further boost the market for space landers and rovers in the years to come.
However, the high costs involved in the space exploration missions are restricting investments in such activities to only certain countries and space agencies, thereby hindering the market growth.
Key Market Trends
Growing Focus On Space Exploration Driving the Demand for Landers and Rovers
Globally, several countries are investing in space exploration programs to study the composition of the solar system, detect the presence of water and elements and potentially exploit asteroids in the future. These activities involve the use of landers and rovers to study the lunar and planetary surfaces. Several space agencies are indulging in activities to explore both the lunar and mars surfaces and also developing the necessary infrastructure and techniques to mine and refine asteroid resources. For instance, China's first fully homegrown Mars mission, Tianwen-1, carrying the probe, a combination orbiter, lander, and rover, reached Mars in February 2021.
Following this, in May 2021, the China National Space Administration (CNSA) confirmed that the spacecraft carrying the rover has touched down on the planet. The milestone makes China the sixth entity to get a probe to Mars, joining the United States, the Soviet Union, the European Space Agency, India, and the United Arab Emirates, whose Hope orbiter reached Mars in February 2021. Moreover, several nations across the globe are also working on lunar exploration missions involving landers and rovers. For instance, Russia's Roscosmos is planning to launch the Luna 25 lunar lander mission, whose launch is scheduled for May 2022. Such missions are expected to drive the market for space landers and rovers during the forecast period.
North America Continues to Dominate The Market
The market is expected to be dominated by North America, due to the growing investments by NASA. NASA's budget for fiscal year (FY) 2021 is USD 23.3 billion, which represents a 3% increase over the previous year's amount. NASA's Perseverance rover is the latest to touch down safely on Mars. The mission is expected to cost USD 2.7 billion. The design and construction of the rover and its related components (including landing system and flight stage) account for 81% of the total project cost, while the rest is for launch and operations.
The rover's dependence on Plutonium-238 as a power source has increased the launch costs due to the elevated environmental and safety regulations for launching nuclear material. Perseverance is the third most expensive Mars mission, after Viking 1 & 2 and the Curiosity rover. Players from the country are also focusing on several lunar missions. Intuitive Machines, a US-based private company, is preparing for its first lunar mission in Q1 2022, as part of the Commercial Lunar Payload Services program. Nova-C is one of three lunar landers that will be built and launched under the program. Such developments are expected to drive the growth of the revenues from the region during the forecast period.
Competitive Landscape
The space lander and rover market have significant growth potential over the next decade as several launches for the moon and mars are planned by many countries. Some of the prominent players in this market are National Aeronautics and Space Administration, Lockheed Martin Corporation, Airbus SE, ISRO, and Blue Origin among others. The market is a mix of private and government organizations that collaborate on new technologies that can revolutionize space exploration. Investments in space mining are also increasing which is expected to open new opportunities for the market players.
Space agencies are also collaborating to develop newer space rovers and landers, which is expected to drive the growth of the market. For instance, Japan's JAXA is planning the Martian Moons Exploration mission to explore two moons of Mars, which include rovers being developed by JAXA along with French space agency CNES and German space agency DLR. Such developments are expected to drive the growth of the players during the forecast period.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 Type
5.1.1 Lunar Surface Exploration
5.1.2 Mars Surface Exploration
5.1.3 Asteroids Surface Exploration
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canadian Space Agency
6.1.2 National Aeronautics and Space Administration
6.1.3 Lockheed Martin Corporation
6.1.4 Northrop Grumman Corporation
6.1.5 Airbus SE
6.1.6 Roscosmos
6.1.7 Blue Origin
6.1.8 ISRO
6.1.9 Japanese Aerospace Exploration Agency (JAXA)
6.1.10 China Academy of Space Technology
6.1.11 ispace, inc.
6.1.12 SPACEBIT TECHNOLOGIES
6.1.13 ASTROBOTIC TECHNOLOGY -
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/aoybx4
