Global 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 generates large amount 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.

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 the 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.

Major market player included in this report are:

Orbital ATKDARPANeuralaDescartes LabsKittyHawkIris AutomationFlyby NavPrecisionHawkPilot.aiMRX Global Holding Corp.Oceaneering InternationalMaxar TechnologiesNorthrop GrummanAstrobotic TechnologiesMotiv 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:

Robotic armsRoversSpace probesOthers

By Applications:

GovernmentCommercial

By Region:

North AmericaThe U.S.CanadaEuropeUKGermanyAsia PacificChinaIndiaJapanLatin AmericaBrazilMexicoRest of the World

Target Audience of the AI in space exploration Market in Market Study:

Key Consulting Companies & AdvisorsLarge, medium-sized, and small enterprisesVenture capitalistsValue-Added Resellers (VARs)Third-party knowledge providersInvestment bankersInvestors

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Originally posted here:

Global AI in Space Exploration Market, Trends, Analysis, Opportunities, Share and Forecast 2019-2027 - Galus Australis