The Space Traffic Management Global Market Report 2023, provides comprehensive information on the space traffic management market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Space Traffic Management Global Market Report 2023, the market size is expected to grow from $13.07 billion in 2022 to $14.66 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the space traffic management is expected to grow to $21.43 billion in 2027 at a CAGR of 9.9%.
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Advancement in space debris monitoring platforms is a key trend gaining popularity in the space traffic management market. Major companies operating in the space traffic management market are developing space debris monitoring platforms to strengthen their position in the space traffic management market. For instance, in March 2022, Neuraspace, a Portugal-based space start-up developed an advanced AI-powered space debris monitoring and satellite collision avoidance platform, to enable safe and sustainable in-orbit operations.
The space traffic management market is segmented:
1) By Activity: Space Situational Awareness, Space Debris Remediation, Space Orbit Management, Launch Vehicle Operation
2) By Orbit: LEO, MEO And Elliptical, GEO
3) By Application: Communication, Earth Observation, Navigation, Global Positioning System And Surveillance, Technology Development And Education, Other Applications
4) By End Use: Civil And Government, Commercial, Military
North America was the largest region in the space traffic management market in 2022.
The table of contents in TBRC’s space traffic management market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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