Inaccuracies in robotic arms can significantly hinder their performance in tasks where precision is critical. This thesis focuses on the kinematic calibration and elasticity compensation of a 6 degrees of freedom robotic arm integrated into the Lunar Rover Mini, developed in collaboration with the Robotics and Mechatronics Institute of the German Aerospace Center (DLR), Wessling. The arm, constructed using 3D-printed components and driven by affordable RC servo motors, experiences notable inaccuracies in end-effector positioning due to joint flexibility and structural deformation, especially under load. This research aims to enhance the arm's accuracy through a model-based calibration approach that compensates for both elastic deformations and geometric misalignments, addressing the absence of feedback sensors. This cost-effective approach, which requires only 3D measurements of the end-effector's position, has resulted in an approximately 80% reduction in the robotic arm's average position error, proving advanced robotic technologies can be more accessible for educational and research applications.