Market Trends of Space Lander and Rover Industry
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.
