Space Situational Awareness Market share predicted rise in CAGR to double-digit by 2030

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Space Situational Awareness refers to monitoring and understanding the earth environment and tracking natural and man-made objects within the earth’s orbit. Also, space situational awareness (SSA) also enables the monitoring of different activities carried out by different countries. It encompasses newer technologies and devices for exploration and observation in terms of speed and type, space conditions, changes, celestial events, and other outer space events. Threats posed to the security of different nations can be identified and avoided through SSA.

The global space situational awareness market was valued at USD 1.51 billion in 2021 and is expected to grow at a CAGR of 4.4% during the forecast period

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Prominent Key Players – Covered in the report:

Elecnor Deimos Group, Etamax Space, Exoanalytic Solutions, Globvision, Kratos Defense & Security Solutions, Inc., L3harris Technologies, Lockheed Martin Corporation, Northstar Earth & Space Inc., Parsons Corporation, Peraton, Schafer Corporation, Spacenav, and Telespazio.

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The rising congestion of objects in space and the focus of government regulatory and private agencies on space situational awareness are fueling the space situational awareness market growth.  Other factors such as the growing demand for earth observation imaginary and analytics, the growing focus of various countries on the use of space for various activities, and the increasing need for lower earth orbit services are boosting the market growth over the forecast period.

Space Situational Awareness Market: Growth Drivers

The growing use of small satellites for military & business and the increase in the commercial use of satellite is anticipated to fuel the growth of the space situational awareness market. Also, growing requirements for market-based sensing activities such as RF mapping, weather monitoring, remote sensing in maritime, space observation, and aeronautics sector across the government and commercial sectors are contributing to the expansion of the SSA market.

Moreover, the increasing usage of various sensing activities to monitor the development of satellites and their payloads is further expected to positively influence the space situational awareness market growth. The increase in the number of new satellite launches and small satellites for various military and commercial applications, such as surveillance and communications, boosts the market growth. In addition, the surge in investments in space missions, digitization, and technological advancements favors the space situational awareness market growth.

Space Situational Awareness Market: Report Segmentation

Depending on the solution segment, the services segment is anticipated to witness the most significant revenue share in the global market in 2021 and is projected to continue its dominance over the study period. This growth can be attributed to the increasing requirement for improved capabilities in weather services networks, the development of SSA tools, and the necessity for surveillance and monitoring to ensure satellites perform properly.

Geographic Overview: Space Situational Awareness Market

Based on geography, North America accounted for the largest share in 2021, owing to the increasing adoption of assets and the necessity to maintain safe operations. Also, the growing presence of space agencies and private firms such as NASA and the Department of Defense respectively drive the growth of the space situational awareness market in the region.

Moreover, Asia Pacific is anticipated to record a high CAGR in the global market in 2021 due to the formation of the Asia Pacific Optical Satellite Observation System (APOSOS) in China. Also, surged association between the countries is expected to boost growth in the region.

Recent Developments

  • In September 2021, Kratos Defense and Security Solutions awarded a USD 2.8 million Department of Defense funding to Prototype Infrastructure Hardware and Software in order to provide commanders with quick access to space-related situational awareness data.
  • In August 2021, The NorthStar Earth & Space Inc. and the Japan Space Imaging Corporation (JSI) signed an agreement to customize product offerings for Japanese customers based on NorthStar’s space-based precision SSA services.

Space Situational Awareness Market: By Solution Outlook

  • Services
  • Weather
  • Near-earth object detection
  • Surveillance and Tracking
  • Deep detection and tracking
  • Payload Systems
  • Ground-Based systems
  • Space-based sensors
  • Datalinks
  • Software
  • Orbit determination tool kit
  • ComSpOC
  • Data center
  • Event generator
  • Joint operations centre

Space Situational Awareness Market: By Orbital Range Outlook

  • Near-Earth
  • Deep Space

Space Situational Awareness Market: By End-Use Outlook

  • Commercial
  • Military & Government

Space Situational Awareness Market: By Object Outlook

  • Mission-related debris
  • Rocket bodies
  • Fragmentation debris
  • Functional spacecraft
  • Non-functional spacecraft
  • Others

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