Deep-space exploration, technology market will benefit from government/private cooperation, study findsNews
May 13, 2022
VANCOUVER, British Columbia, Canada. The global market for deep-space exploration and technology is expected to total $630.23 billion in 2028, registering a combined annual growth rate between 2022 and the end of the study period, according to a recent report from Emergen Research, "Deep Space Exploration and Technology Market By Technology Mode (Rockets, Landers, Robots, Satellites, Orbiters), By Application, By Subsystem, By Mission Type, By End Use, By Region Forecast to 2028."
The study authors assert that steady market growth projections can be attributed to the increasing number of missions planned by various space agencies and also to enhanced funding from both private and government space agencies for deep-space exploration missions and space-related programs.
The study also found that deep-space exploration -- which has led to development of newer technologies becoming integrated with deep learning and artificial intelligence (AI) capabilities -- has spurred development of advanced equipment and systems such as heavy lift launchers, human and robotic servicing, and autonomous space operations, all of which are expected to continue to support revenue growth of the market over the forecast period.
For additional information visit the Emergen website.