Overview and Scope
Space debris monitoring and removal refer to the processes of detecting, tracking, and mitigating space debris objects circling the Earth, as well as their disposal to reduce the risk of collision with functioning satellites and spacecraft. It is essential for protecting space assets, ensuring the safety of space operations, and supporting sustainable space activities.
Sizing and Forecast
The space debris monitoring and removal market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to satellite proliferation, spacecraft collisions, international agreements, risk to space assets, space sustainability, commercial interests.
The space debris monitoring and removal market size is expected to see strong growth in the next few years. It will grow to $1.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to continued satellite deployment, rapid growth of mega constellations, space tourism and commercial space activities, regulatory developments, global space governance. Major trends in the forecast period include increased demand for space situational awareness, development of satellite constellations, emergence of automated debris removal technologies, integration of commercial solutions, rapid technology innovation.
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The space debris monitoring and removal market covered in this report is segmented –
1) By Debris Size Range: 1mm To 1cm Debris Size, 1cm To 10cm Debris Size, Greater Than 10 cm
2) Orbit Type: Low Earth Orbit (LEO), Medium-Earth Orbit (MEO), Geostationary Earth Orbit (GEO)
3) By End User: Commercial, Defense
North America was the largest region in the space debris monitoring and removal market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the space debris monitoring and removal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing number of satellite launches is expected to propel the growth of the space debris monitoring and removal market going forward. Satellite launches involve the deployment of artificial satellites into space using launch vehicles or rockets for various purposes, such as communication, Earth observation, and scientific research. The rise in the number of satellite launches is driven by increasing demand for global connectivity, earth observation, scientific research, commercial applications, and a growing interest in space exploration. Space debris monitoring helps satellite operators and launch providers identify and track debris objects that could pose a collision risk to satellites during launch and deployment. Also, space debris removal efforts aim to reduce the overall population of debris in orbit, thereby decreasing the likelihood of collisions with operational satellites. For instance, in January 2023, according to Jonathan’s Space Report, a US-based space program researcher, there were 186 international space launches of defense-related satellites in 2022, compared to 146 in 2021. Furthermore, the US attempted to launch 78 defense-related satellites in 2022, with 72 flourishing, and China tried to launch 64 satellites in 2022, of which 62 made orbit. Therefore, the increasing number of satellite launches is driving the growth of the space debris monitoring and removal market.
Key Industry Players
Major companies operating in the space debris monitoring and removal market are Raytheon Technologies, The Boeing Company, Lockheed Martin Corporation, Airbus SE, Mitsubishi Electric Corporation, Northrop Grumman Corporation, British Aerospace systems, L3Harris Technologies Inc., IHI Corporation, Teledyne Technologies, Thales Alenia Space, Ball Aerospace & Technologies Corp., Maxar Technologies Inc., Japan Aerospace Exploration Agency, The Aerospace Corporation, Kratos Defense & Security Solutions, Occupational Health Branch, Electro Optic Systems Holdings Limited, Rocket Lab Limited, Rüstungs Unternehmen AG, Surrey Satellite Technology Limited, ClearSpace SA, Tethers Unlimited, Kongsberg Satellite Services
The space debris monitoring and removal market report table of contents includes:
1. Executive Summary
2. Space Debris Monitoring And Removal Characteristics
3. Space Debris Monitoring And Removal Trends And Strategies
4. Space Debris Monitoring And Removal – Macro Economic Scenario
5. Global Space Debris Monitoring And Removal Size and Growth
…..
32. Global Space Debris Monitoring And Removal Competitive Benchmarking
33. Global Space Debris Monitoring And Removal Competitive Dashboard
34. Key Mergers And Acquisitions In The Space Debris Monitoring And Removal
35. Space Debris Monitoring And Removal Future Outlook and Potential Analysis
36. Appendix
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