The latest research report on AI in Space Exploration market provides a complete investigation of the current and future scenario of this industry domain. It highlights the major trends and avenues that are expanding the business horizon, along with the obstacles & restraints that are arresting the market growth. The study elaborates on vast historical data and compares it with the latest updates on the various market segmentation to identify business expansion opportunities. It also offers projections pertaining to the market share, volume, sizes, and growth rate over the analysis timeframe. Furthermore, the report talks about invaluable data based on the consumption and pricing patterns, followed by a clear depiction of the competitive arena.
AI in space exploration Market is valued approximately USD 2 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 7.25% over the forecast period 2019-2026. Machine learning and AI leave their imprints on various fields including construction, automation, image analytics, and space exploration along with many others. Many applications of AI in space is being researched on various domains which includes relative positioning, communication and many others. Various spacecraft and space vehicles including satellites that are operating in the space may generates large amount of data owing to the complexity of the research missions. With AI in space exploration enables the data transmission over large distance with ease. Many organization and government agencies are collaborating on machine learning solutions for detection of new planets, space weather using magnetosphere and atmosphere measurement.
With rapid technological development and increasing investment in R&D sector, space exploration is experiencing rapid technical development owing to the integration of AI and the space vehicles which are developed for space exploration. The factor leading to the growth of AI in space exploration is the development of AI-based robots that can perform highly complex tasks over a longer period without human inference and for enhances mobility and manipulation benefits. AI offers high flexibility, accuracy and control owing to the development of 3D perception and proximity GNC in AI robots. Moreover, robotics arms in space exploration is witnessing high demand due to the high weightlifting and handling capabilities that are offered to astronauts.
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. AI in space exploration market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to dominate the market share of AI in space exploration market owing to the presence of space organizations such as NASA and CSA working effectively towards the development of AI in space exploration. Moreover, U.S. and Canada are investing in the R&D sector and technological innovations to explore deep space. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026 owing to the factors due to various ongoing and upcoming space programs in developing countries such as India and China.
Major market player included in this report are:
MRX Global Holding Corp.
Motiv Space Systems
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year â€“ 2016, 2017
Base year â€“ 2018
Forecast period â€“ 2019 to 2026
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Goals and objectives of this Report
- Understanding the opportunities and progress of Global Market highlights, as well as key regions and countries involved in market growth.
- Study the different segments of the Global Market and the dynamics of Global Market in the market.
- Categorize Global Market segments with increasing growth potential and evaluate the futuristic segment market
- To analyze the most important trends related to the different segments that help to decipher and convince the Global Market.
- To verify region-specific growth and development in the Global Market.
- Understand the key stakeholders in the Global Market and the value of the competitive image of the Global Market leaders.
- To study key plans, initiatives and strategies for the development of the Global Market.
Key questions answered in the report:
- Which are the five top players of the Global Market?
- How will the Global Market change in the next five years?
- Which product and application will take a lion’s share of the Global Market?
- What are the drivers and restraints of the Global Market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the Global Market throughout the forecast period?
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