Deep space exploration missions require enhanced subsystems, which aid in propelling the system into space, navigate through space among the space debris as well as on the planetary surface, and maintain contact with the space stations or the space ground stations.
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The leading space centers are focused on developing advance in-space propulsion technologies that can aid satellites, spacecrafts and other interplanetary vehicles. They also focus on the development of enhanced propulsion system that can support not only space missions to the ISS but also the planetary missions and other deep space explorations. The command and control system enable the spacecraft to connect with the space ground stations as well as provide critical data of its mission.
In various deep space exploration missions planned to be launched from 2020, navigation and guidance system proves to be an integral part, as it requires high-precision tracking and guidance. Major technological advancements in this area include the development of Deep Space Atomic Clock (DSAC), Deep Space Positioning System (DPS) and autonomous navigation using artificial intelligence (AI). These developments are expected to help in mitigating any small navigational error so that the spacecrafts reach their intended destination and successfully carry out their space operations.
The deep space exploration and technology market has witnessed different market dynamics across various regions of the globe. Moreover, majority of the prominent space companies manufacturing systems and technology are based in this region. The following figure represents the global deep space exploration and technology market by region. It includes North America, Europe, Asia-Pacific, and Rest-of-the-World.
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Deep space exploration is one of the emerging space activities with the leading players actively partnering with each other to support various missions. Key players that are actively participating in the deep space exploration and technology market are Airbus Defence & Space, Lockheed Martin, Boeing, Northrop Grumman, Thales Alenia Space, MAXAR Technologies, Sierra Nevada Corporation, SpaceX, Astrobotic, and Blue Origin, among others.
Prominent players in the deep space exploration and technology market adopted strategies of contracts, partnerships, agreements, and acquisitions to carry out increased number of missions. Partnerships, contracts, and agreements are being majorly adopted by the key players of the market. The reason for this is to develop technological capabilities that can support deep space exploration missions. Companies are also adopting the acquisitions strategy so as to widen their product capabilities.
