Overview and Scope
Space traffic management is a set of technological and regulatory provisions intended to ensure safe entry, operations in space, and return from space to earth free of physical or radio-frequency interference. The space traffic management is used to provide a solid framework for on-orbit coordination of activities to improve the safety, stability, and sustainability of space operations.
Sizing and Forecast
The space traffic management market size has grown rapidly in recent years. It will grow from $14.67 billion in 2023 to $16.28 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to growing need for improved safety and efficiency in space operations , increased number of spacecrafts , congested environment , increased satellite constellations, military and national security..
The space traffic management market size is expected to see rapid growth in the next few years. It will grow to $24.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to commercial space growth, small satellite revolution, space situational awareness, the development of regulatory frameworks, growing demand for satellite-based services, increasing space exploration missions. Major trends in the forecast period include enhanced space situational awareness (ssa), integration with air traffic management (atm), public awareness and education, increasing space traffic density, autonomous collision avoidance and maneuvering..
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Segmentation & Regional Insights
The space traffic management market covered in this report 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 2023. Asia-Pacific is expected to be the fastest-growing region in the space traffic management market share during the forecast period. The regions covered in the space traffic management 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 rising threat of space debris is expected to drive the growth of the space traffic management market going forward. Space debris refers to the non-functional remains of artificial objects in space, particularly those revolving around the Earth’s orbit. Space traffic management helps in monitoring and tracking functional and non-functional satellites, avoiding collisions with space debris and creating less debris, further paving a smooth path for satellites. For instance, according to an article published in May 2021 by The National Aeronautics and Space Administration, an independent agency of the U.S. federal government responsible for the civil space program, more than 27,000 pieces of orbital debris are tracked by the Department of Defense’s global Space Surveillance Network (SSN) sensors. Thus, the rising threat of space debris is driving the space traffic management market.
Key Industry Players
Major companies operating in the space traffic management market include Thales Group, L3Harris Technologies Inc., The Boeing Company, Airbus Group, BAE Systems plc, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Kayhan Space, Exolaunch GmbH, HyImpulse Technologies GmbH, Slingshot Aerospace, Altitude Angel, Saber Astronautics LLC, Juniper Networks, Starfish Space, Creare Inc., Neuraspace, Transmetrics AD, Voyage Control, OKAPI: Orbits, COMSPOC Corp., ExoAnalytic Solutions, Kellogg Brown & Root Inc., NorthStar Earth & Space Inc., Space Data Association, Altius Space Machines, Analytical Graphics Inc.
The space traffic management market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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