AI in Space Exploration Global Market Report 2024

The AI in space exploration market size has grown exponentially in recent years. It will grow from $3.4 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 30.8%. Historical growth can be attributed to the demand for AI technology to enhance space missions, increased government investment, the proliferation of autonomous systems and robotics, increased focus on data management, and the adoption of cognitive cloud computing in space.

The AI in space exploration market size is expected to see exponential growth in the next few years. It will grow to $12.78 billion in 2028 at a compound annual growth rate (CAGR) of 30.2%. Forecasted growth can be attributed to the increasing number of space launches and missions, the rise of autonomous vehicles, heightened anomaly detection capabilities, and the expansion of satellite operations. Major trends in the forecast period include technological advancements, product innovations, integration of AI technologies, AI-powered robots, and the development of new space technologies.

The growth of the AI in space exploration market is expected to be driven by an increasing number of space missions in the future. Space missions involve organized endeavors to explore outer space or celestial bodies using various technologies such as spacecraft, satellites, rovers, telescopes, and more. AI plays a crucial role in space exploration by enhancing capabilities across various aspects including autonomous navigation and control, advanced data analysis, automated planning and scheduling, and advanced robotics. For example, the United Nations Office for Outer Space Affairs reported an increase in the launch of space missions, with 2,664 objects launched into orbit in 2023 compared to 2,478 in 2022, indicating a rise in space exploration activities.

Leading companies in the AI in space exploration market are focusing on developing strategic collaborations to bolster their market position. Strategic collaborations involve purposeful partnerships or alliances between entities to achieve common goals, leveraging complementary strengths and resources for mutual benefit. For instance, IBM and NASA collaborated to apply artificial intelligence to Earth science data, aiming to uncover new insights about our planet. This collaboration entails the development of AI foundation models to analyze vast amounts of text and remote-sensing data, with the models being open and available to the entire science community.

In August 2023, Sidus Space, a US-based satellite manufacturing and space services company, acquired Exo-Space, a US-based company specializing in hardware and software for Edge Artificial Intelligence applications in space, for an undisclosed amount. Through this acquisition, Sidus aims to expand its talent, technology, and total addressable market by integrating Exo-Space's stand-alone AI and machine learning products into its business lines.

Major companies operating in the AI in space exploration market report are Lockheed Martin, Airbus, IBM, Northrup Grumman, Hewlett Packard Enterprise (HPE), Thales Group, Booz Allen Hamilton, Spacex, Maxar Technologies Inc., Astroscale, Planet Labs Inc., Spire Global, Iceye, Capella Space, Blacksky Global, Hawkeye 360, D-Orbit, Orbital Insight Inc., LeoLabs, Slingshot Aerospace, Kuva Space, Analytical Space, Raptor Maps, Phase Four, Descartes Labs, AADYAH Aerospace, Ubotica Technologies, Swarm Technologies, Exo-Space, Craft Prospect.

North America was the largest region in the AI in space exploration market in 2023. The regions covered in the AI in space exploration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the AI in space exploration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The AI in space exploration market includes revenues earned by entities by providing services such as autonomous navigation, exoplanet discovery, earth observation, and satellite operations and machine learning in guidance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The AI in space exploration market also includes sales of autonomous robotics, autonomous rovers, satellites, autonomous vehicles, and telescopic observations. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

AI in space exploration involves the utilization of artificial intelligence (AI) and machine learning (ML) technologies to analyze data, automate spacecraft operations, and enhance decision-making across various facets of space exploration. It has become an indispensable tool in this field, aiding scientists and engineers in making discoveries and deepening their understanding of the universe.

The primary types of AI in space exploration include rovers, robotic arms, space probes, and other related technologies. Rovers are robotic vehicles specifically designed for exploration and research, particularly in environments where human presence may be challenging or impractical. Various applications encompass robotics, remote sensing and monitoring, data analytics, asteroid mining, manned vehicles and reusable launch systems, communications, and remote missions, catering to various end-users such as government entities and commercial enterprises.

The AI in space exploration market research report is one of a series of new reports that provides AI in space exploration market statistics, including AI in space exploration industry global market size, regional shares, competitors with AI in space exploration market share, detailed AI in space exploration market segments, market trends, and opportunities, and any further data you may need to thrive in the AI in space exploration industry. This AI in space exploration market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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