Overview and Scope
Space situational awareness refers to tracking objects in space, including their identification, orbit determination, awareness of the environment they are working in, and prediction of future positions and potential dangers. It is used to forecast object collisions and warn space operators of potentially hazardous close approaches in order to enable collision avoidance operations.
Sizing and Forecast
The space situational awareness market size has grown strongly in recent years. It will grow from $1.41 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to growing space activity, space debris mitigation, satellite services, national security, international cooperation.
The space situational awareness market size is expected to see strong growth in the next few years. It will grow to $2.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to space traffic management, commercial space operations, lunar and deep space exploration, space resource utilization, space domain awareness. Major trends in the forecast period include space traffic management, space debris monitoring, rapid data sharing, commercial ssa services, space weather prediction.
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Segmentation & Regional Insights
The space situational awareness market covered in this report is segmented –
1) By Solution: Service, Payload Systems, Software
2) By Capability: Detect, Track, And Identify (D/T/Id), Threat Warning And Assessment, Characterization
3) By Object: Mission-Related Debris, Rocket Bodies, Fragmentation Debris, Functional Spacecraft, Non-Functional Spacecraft, Other Objects
4) By Orbital Range: Near-Earth, Deep Space
5) By End Use: Commercial, Government And Military
North America was the largest region in the space situational awareness market in 2023. North America is expected to be the fastest growing region in the space situational awareness market share during the forecast period. The regions covered in the space situational awareness market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in demand for space-based sensing activities propels the growth of the space situational awareness market going forward. The space-based sensing activities refer to the remote sensing technology that profiles the earth’s atmosphere and ionosphere with high vertical resolution and global coverage using GNSS (such as GPS) readings acquired by low-Earth orbiting satellites. The majority of governments employ space situational awareness to plan their space activities because it makes it possible to predict the orbital paths of cataloged objects and trash. For instance, in May 2021, according to the data published by EUROCONTROL, a Belgium-based organization for the safety of air navigation, Aireon’s space-based ADS-B system was integrated into NM’s Enhanced Traffic Flow Management System (ETFMS), which enabled real-time air traffic surveillance data monitoring and improved traffic predictability by 20%. Furthermore, in September 2021, HawkEye 360, a US-based geospatial analytics company, launched 3 satellites into orbit for the analysis of RF geospatial intelligence. Therefore, increasing demand for space-based sensing activities is driving the growth of the space situational awareness market.
Key Industry Players
Major companies operating in the space situational awareness market include Lockheed Martin Corporation, Kratos Defense & Security Solutions Inc., Polaris Alpha Advanced Systems Inc., Applied Defense Solutions, Schafer Industries, L3harris Technologies, General Dynamics Corporation, Vision Engineering Solutions, Norstar Space Data, SpaceNav LLC, Elecnor Deimos Group, ExoAnalytic Solutions Inc., Honeywell International Inc., DRS Technologies., BAE Systems, Northrop Grumman Corporation, RTX Corporation, Thales Group, ATOS SE, Elbit Systems Ltd., Leonardo S.p.A., Rheinmetall AG, Airbus SE, Boeing Co., Pratt & Whitney, Rolls-Royce Holdings plc, GE Aviation, Safran S.A., Israel Aerospace Industries, Spirit AeroSystems Inc., Triumph Group Inc., United Technologies Corporation, International Business Machines Corporation, Microsoft Corporation, Amazon Web Services Inc., Google LLC, Oracle Corporation, Cisco Systems Inc.
The space situational awareness market report table of contents includes:
1. Executive Summary
- Space Situational Awareness Market Characteristics
- Space Situational Awareness Market Trends And Strategies
- Space Situational Awareness Market – Macro Economic Scenario
- Global Space Situational Awareness Market Size and Growth
- Space Situational Awareness Market Segmentation
- Space Situational Awareness Market Regional And Country Analysis
………………
- Key Mergers And Acquisitions In The Space Situational Awareness Market
- Space Situational Awareness Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Space Situational Awareness Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Space Situational Awareness Market, Segmentation By Capability, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Space Situational Awareness Market, Segmentation By Object, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………….
Table 76: Lockheed Martin Corporation Financial Performance
Table 77: Kratos Defense & Security Solutions Inc. Financial Performance
Table 78: Polaris Alpha Advanced Systems Inc. Financial Performance
Table 79: Applied Defense Solutions Financial Performance
Table 80: Schafer Industries Financial Performance
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