Deep Space Exploration Market to Grow at a CAGR of 6.42% During the Forecast Period from 2020 to 2030


Posted June 1, 2020 by bisrsrch

The purpose of the market analysis is to examine the deep space exploration and technology market outlook in terms of factors driving the market.

 
The space sector has been undergoing numerous developments since the past years, due to several factors such as cost-effective systems due to technological advances, increasing private investments by emerging players in the industry, increasing need for better communication and connectivity. Moreover, the increased application of space technologies for investigation on weather, surveillance for the military sector, and real-time imaging requirements by different sectors are also leading to the evolution of the space industry. To cater to the applications above, an increase in the number of satellites are launched every year. Additionally, the industry has also witnessed a demand for small satellites, which allow for enhanced operations as well as cost-effective missions. In addition to this, upgraded launch vehicles with heavy lift capabilities are being developed.

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Major space agencies, as well as private space companies, are developing reusable launch vehicles, which can provide cost-efficiency and reduce space debris. Prominent space agencies such as the National Aeronautics and Space Administration (NASA), European Space Agency (ESA), China National Space Administration (CNSA), Japan Aerospace Exploration Agency (JAXA), Roscosmos State Corporation for Space Activities (Russian Space Agency) and the Indian Space Research Organisation (ISRO) are looking toward the development of earth independence which includes human presence beyond low Earth orbit and cislunar space and onto Mars. A deep space exploration mission ranges from two to three years with the safe return of the crew to Earth.

Deep space exploration includes both planetary explorations as well as human spaceflight and habitation explorations. Both these explorations require extensive support of various systems such as robotic systems to conduct various scientific investigations. The objectives for conducting deep space exploration are expanding human presence into space, increasing planetary exploration capabilities, deploying assets and resources, supporting astronauts during space missions, and enhancing the effectiveness of human operations.

Deep space exploration missions require enhanced subsystems, which aid in propelling the system into space, navigate through space among the space debris as well as on the planetary surface, and maintain contact with the space stations or the space ground stations. The leading space centers are focused on developing advanced in-space propulsion technologies that can aid satellites, spacecraft, and other interplanetary vehicles. They also focus on the development of an enhanced propulsion system that can support not only space missions to the ISS but also the planetary missions and other deep space explorations. The command and control system enables the spacecraft to connect with the space ground stations as well as provide critical data of its mission.

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In various deep space exploration missions planned to be launched from 2020, the navigation and guidance system proves to be an integral part, as it requires high-precision tracking and guidance. Significant technological advancements in this area include the development of Deep Space Atomic Clock (DSAC), Deep Space Positioning System (DPS), and autonomous navigation using artificial intelligence (AI). These developments are expected to help in mitigating any small navigational error so that the spacecraft reach their intended destination and successfully carry out their space operations.

Key Questions Answered in this Report:

• What are the major forces that tend to increase the demand for the global deep space exploration and technology during the forecast period, 2020-2030?
• What are the major challenges inhibiting the growth of the global deep space exploration and technology market?
• Which are the key players in the global deep space exploration and technology market?
• What is the estimated revenue generated by the global deep space exploration and technology market by segments (subsystem, technology mode, application, mission type, and end user) in 2020, and what are the estimates for the time period 2020-2030?
• What are the industry trends in the global deep space exploration and technology market?
• How is the industry expected to evolve during the forecast period 2020-2030?
• What are the new strategies adopted by the existing market players to catalyze deep space exploration?
• What are the major opportunities that the deep space exploration and technology stakeholders foresee?

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With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

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Issued By BISRSRCH
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Categories Aerospace , News , Research
Tags Deep Space Exploration and Technology , aerospace , Deep Space
Last Updated June 1, 2020
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