Market Size of Space Lander and Rover Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 Size Summary
The space lander and rover market is poised for substantial growth, driven by increasing global investments in space exploration and interplanetary missions. Despite the temporary setbacks caused by the Covid-19 pandemic, such as delayed launch schedules and a short-term slowdown in investments, the market is expected to expand significantly. The demand for activities like interplanetary exploration and potential space mining is anticipated to further propel the market. However, the high costs associated with space exploration missions limit participation to a select number of countries and space agencies, which poses a challenge to broader market growth. Countries worldwide are actively engaging in space exploration programs, utilizing landers and rovers to study lunar and planetary surfaces, with notable missions such as China's Tianwen-1 and Russia's Luna 25 driving market momentum.
North America is expected to dominate the market, largely due to substantial investments by NASA, which continues to lead in Mars and lunar exploration missions. The market landscape is characterized by a mix of private and government entities, including prominent players like NASA, Lockheed Martin, Airbus, ISRO, and Blue Origin, who are collaborating on innovative technologies to advance space exploration. The market's growth is further supported by increasing investments in space mining and international collaborations on new space rovers and landers. Notable developments, such as Lockheed Martin's partnership with General Motors for lunar rovers and NASA's contract with Northrop Grumman for Mars ascent vehicle systems, highlight the dynamic nature of the market. These initiatives are expected to drive revenue growth and expand opportunities for market participants over the forecast period.
Space Lander and Rover Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 Type
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2.1.1 Lunar Surface Exploration
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2.1.2 Mars Surface Exploration
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2.1.3 Asteroids Surface Exploration
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2.2 Geography
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2.2.1 North America
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2.2.2 Europe
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2.2.3 Asia-Pacific
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2.2.4 Rest of the World
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Space Lander and Rover Market Size 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.
