Space Lander and Rover Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 9.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Space Lander and Rover Market Analysis
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.
Space Lander and Rover Market Trends
This section covers the major market trends shaping the Space Lander & Rover Market according to our research experts:
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.
Space Lander and Rover Industry Overview
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 are some of the prominent players in the market. 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.
Space Lander and Rover Market Leaders
-
National Aeronautics and Space Administration
-
Lockheed Martin Corporation
-
Airbus SE
-
ISRO
-
Blue Origin
*Disclaimer: Major Players sorted in no particular order
Space Lander and Rover Market News
- In May 2021, Lockheed Martin announced that it has teamed up with General Motors to design the next generation of lunar rovers, capable of transporting astronauts across farther distances on the lunar surface.
- In March 2021, NASA awarded Northrop Grumman a contract to provide solid propulsion systems and controls for the Mars Ascent Vehicle (MAV) that will be launched in 2026. The cost-plus, fixed-fee contract has a potential mission services value of USD 60.2 million and a maximum potential value of USD 84.5 million. The MAV will be launched along with a Sample Fetch Rover that will collect soil and rock samples prepared by NASA's Perseverance rover that landed in February 2021.
Space Lander and Rover Market Report - Table of Contents
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 -
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySpace Lander and Rover Industry Segmentation
Lander is a spacecraft that descends towards and comes to rest on, the surface of an astronomical body. Landers are designed and developed to make soft landings. Space rover is a planetary surface exploration device designed to move across the solid surface on a planet or other planetary-mass celestial bodies. Robotic rovers provide not only mobility but also the capability to do complex tasks and make intelligent and selective observations. The report is segmented by type into Lunar Surface Exploration, Mars Surface Exploration, and Asteroids Surface Exploration. The report also covers the developments in major countries across the globe. The report offers market sizes and forecasts and are represented by value (USD million).
| Type | Lunar Surface Exploration |
| Mars Surface Exploration | |
| Asteroids Surface Exploration | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Space Lander and Rover Market Research FAQs
What is the current Space Lander and Rover Market size?
The Space Lander and Rover Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in Space Lander and Rover Market?
National Aeronautics and Space Administration, Lockheed Martin Corporation, Airbus SE, ISRO and Blue Origin are the major companies operating in the Space Lander and Rover Market.
Which is the fastest growing region in Space Lander and Rover Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Space Lander and Rover Market?
In 2024, the Asia-Pacific accounts for the largest market share in Space Lander and Rover Market.
What years does this Space Lander and Rover Market cover?
The report covers the Space Lander and Rover Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Space Lander and Rover Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Space Lander and Rover Industry Report
Statistics for the 2024 Space Lander and Rover market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Space Lander and Rover analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
