The space situational awareness global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Space Situational Awareness Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Space Situational Awareness Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Space Situational Awareness Market Overview
Market Drivers –
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.
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
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Space Situational Awareness Market Report Structure
3. Space Situational Awareness Market Trends And Strategies
4. Space Situational Awareness Market – Macro Economic Scenario
5. Global Space Situational Awareness Market Size and Growth
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31. Global Space Situational Awareness Market Competitive Benchmarking
32. Global Space Situational Awareness Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Space Situational Awareness Market
34. Space Situational Awareness Market Future Outlook and Potential Analysis
35. Appendix
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