The Space Situational Awareness Global Market Report 2023, provides comprehensive information on the space situational awareness market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Space Situational Awareness Global Market Report 2023, the market size is expected to grow from $1.29 billion in 2022 to $1.42 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global space situational awareness is expected to grow to $1.87 billion in 2027 at a CAGR of 7.1%.
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Technological advancement has been an emerging trend gaining popularity in the space situational awareness market. Major companies operating in the space situational awareness sector are focused on technological advancement to sustain their position in the market. For instance, in April 2022, Fujitsu, a Japan-based information and communications technology equipment and services company, introduced new technology for mapping and analyzing space debris. This technology consists of an SSA (Space Situational Awareness System) system along with radar and an optical telescope. The new radar from JAXA (Japan Aerospace Exploration Agency), integrated with technology, is intended to observe roughly 10,000 objects each day and can also detect tiny things. This technology enables operators to automatically determine the likelihood of a predicted collision and make the required route adjustments to reduce hazards and prevent any potential collisions with space junk.
The space situational awareness market 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) End Use: Commercial, Government And Military
North America was the largest region in the space situational awareness market in 2022.
The table of contents in TBRC’s space situational awareness market report includes:
- Executive Summary
- Space Situational Awareness Market Characteristics
- Space Situational Awareness Market Trends And Strategies
- Space Situational Awareness Market – Macro Economic Scenario
- Space Situational Awareness Market Size And Growth
- Space Situational Awareness Market Segmentation
- Space Situational Awareness Market Regional And Country Analysis
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- Space Situational Awareness Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Space Situational Awareness Market
- Space Situational Awareness Market Future Outlook and Potential Analysis
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