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

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 are being researched on various domains which include relative positioning, communication, and many others. Various spacecraft and space vehicles including satellites that are operating in the space may generate a large amounts of data owing to the complexity of the research missions. AI in space exploration enables the data transmission over large distances with ease. Many organizations and government agencies are collaborating on machine learning solutions for the detection of new planets, space weather using magnetosphere and atmosphere measurement.

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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.

Major market player included in this report are:
Orbital ATK
DARPA
Neurala
Descartes Labs
KittyHawk
Iris Automation
Flyby Nav
PrecisionHawk
Pilot.ai
MRX Global Holding Corp.
Oceaneering International
Maxar Technologies
Northrop Grumman
Astrobotic Technologies
Motiv Space Systems

With rapid technological development and increasing investment in the 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 enhancing 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, robotic arms in space exploration are witnessing high demand due to the high weightlifting and handling capabilities that are offered to astronauts.

The regional analysis of AI in space exploration market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the 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, the 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 the 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.

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Posted by on Friday October 18 2019, 3:02 AM EST. All trademarks acknowledged. Filed under Business & Financial Services, Business Services, Featured Press Release, Software & Services, Technology Hardware & Equipment, Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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