PUBLISHER: The Business Research Company | PRODUCT CODE: 1657259
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657259
Space Situational Awareness (SSA) refers to the ability to monitor, understand and predict the movement and behavior of objects in space to ensure the safety and sustainability of space operations. SSA is critical for managing the growing number of satellites, debris and other objects in Earth's orbit and beyond.
The space situational awareness market consists of sales, by entities (organizations, sole traders and partnerships) of space situational awareness products and services that include offering of systems, services and software that enable the detection, tracking and characterization of space objects. It supports operators in avoiding collisions, understanding threats and ensuring the security of satellites and other space assets.
The global space situational awareness market was valued at $1,306.68 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 2.00%.
Expansion Of Low-Earth Orbit (LEO) Satellite Constellations
During the historic period, the expansion of low-earth orbit (LEO) satellite constellations supported the growth of the space situational awareness market. The rapid expansion of LEO satellite constellations has significantly increased satellite deployment. This growth demands advanced tools and technologies for effective monitoring, tracking and management, to address the challenges of a congested orbital environment. For instance, in September 2022, according to the Government Accountability Office (GAO), a US-based independent, nonpartisan government agency, there were nearly 5,500 active satellites in orbit in 2022, primarily propelled by large constellations in low Earth orbit. Moreover, according to the Index of Objects Launched into Outer Space, maintained by the United Nations Office for Outer Space Affairs (UNOOSA), the primary organization within the United Nations responsible for promoting international cooperation, there were 11,330 individual satellites orbiting the Earth at the end of June 2023; a whopping 37.94% increase since January 2022. Therefore, the expansion of low-earth orbit (LEO) satellite constellations drove the growth of the space situational awareness market.
Space Missions Driving Advancements In Space Situational Awareness (SSA) Technology
Major companies operating in the space situational awareness market are developing space missions to enhance orbital debris tracking, improve collision avoidance capabilities and ensure the long-term sustainability of space operations. Space missions refer to planned and organized endeavors conducted by space agencies, companies or organizations to achieve specific objectives, such as launching satellites, exploring celestial bodies, conducting scientific experiments, deploying space infrastructure or addressing challenges like orbital debris management. For example, in January 2024, Rocket Lab, a US-based aerospace manufacturer company, set to launch a significant mission, "Four of a Kind", focused on Space Situational Awareness (SSA) for Spire Global and NorthStar Earth and Space. This mission will utilize advanced satellites designed to monitor all near-Earth orbits simultaneously, enabling comprehensive services, such as space object detection, tracking, orbit determination, collision avoidance and navigation alerts. This marks a notable advancement in SSA technology, aimed at enhancing the safety and sustainability of space operations.
The global space situational awareness market is highly concentrated, with a small number of players dominating the market. The top ten competitors in the market made up 71.60% of the total market in 2023.
Space Situational Awareness Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global space situational awareness market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for space situational awareness? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The space situational awareness market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider space situational awareness market; and compares it with other markets.