FREMONT, Calif., July 14, 2022 /PRNewswire/ -- The premium market intelligence study by BIS Research titled Global Space Situational Awareness Services Market projects the market to reach $172.7 million in terms of revenue by 2032, at a CAGR of 3.3%.
This study covers 23 space situational awareness participants, of which 22 have been identified as commercial service providers (the other one is open source). The terms space situational awareness (SSA), space domain awareness (SDA), and space traffic management (STM) are widely used to refer to different segments of space situational awareness capabilities.
This study, however, uses the term 'space situational awareness,' covering five segments of the SSA market. Following are the five segments:
- Mission Operation Support
- Collision Avoidance and Tracking
- Interference Avoidance
- Rendezvous Support
- Space Weather
This study uses the previously highlighted segmentation after careful inspection of the service portfolios of the 22 commercial service providers. This study aims to estimate the global demand for the commercial SSA market while discussing the key requirements of different end users of SSA services.
The detailed study is a compilation of 57 market data tables and 21 figures spread through 159 pages and an in-depth TOC on "Global Space Situational Awareness Services Market - Analysis and Forecast, 2022-2032"
Demand - Drivers and Limitations
Following are a few of the demand drivers for the global space situational awareness services market:
- Increase in the number of satellites in low Earth orbit (LEO) results in growing space congestion
- Natural orbital decay of satellites
- Growing number of space debris clouds
- Evolving regulatory framework driving mandatory collision avoidance maneuvers
- Growing need for predictive and actionable insights
- Evolving constellation operational requirements
- Increasing automation of mission operations
- Growing threat perception amongst aviation industry stakeholders
The market is expected to face some limitations due to the following challenges:
- Lack of global regulatory framework for the enforcement of space policies
- Presence of open-source data sets
- Presence of in-house capabilities
- Presence of expensive customized solutions
- Lack of global space data exchange
- Availability of free version of the service
- Lack of relevant computing infrastructure
Reasons to Buy This Report
This exclusive report on the global space situational awareness services market will help in the following ways:
- A dedicated section focusing on various service segments adopted by the key players operating in the global space situational awareness services market
- A dedicated section on growth opportunities and recommendations
- A qualitative and quantitative analysis of space situational awareness services at the regional level, service segments, and for various orbits
Analyst's Take on the Market:
According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, "Mission operations spending is rising, with an increase in the number of satellite constellations globally. While comprehensive mission operations services are developing, various other services, such as collision avoidance and rendezvous support, are also advancing. With new satellite constellations in the low Earth orbit evolving, the need for enhanced space situational awareness services is also expected to rise."
View the report on Global Space Situational Awareness Services Market
Key Companies Operating in the Market and Competitive Landscape
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The top segment players leading the market included established players providing space situational awareness services, which constituted 57.1% of the presence in the market. Emerging market participants include start-up entities that accounted for approximately 42.9% of the presence in the market.
Some prominent players in this market are:
Company Type 1: Key Space Situational Awareness Services Providers
- Astroscale Holdings, Inc.
- Elecnor Deimos Group
- ExoAnalytics Solutions, Inc.
- GMV Innovating Solutions
- L3 Harris Technologies
- Orion Space Solutions
Company Type 2: Emerging Market Participants
- Digantara
- Launchspace Technologies Corporation
- LeoLabs, Inc.
- NorthStar Earth & Space Inc.
- Share My Space
- Space Domain Awareness, Inc.
- Voyager Space Holdings, Inc.
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Key Questions Answered in the Report:
- What are the trends in the global space situational awareness services market, and how is the market expected to grow over the forecast timeline 2022-2032?
- What are the key drivers and challenges faced by the SSA service providers in the space situational awareness services market?
- What are the opportunities for the SSA service providers to expand their businesses in the space situational awareness services market?
- Which region is expected to be leading the space situational awareness services market by 2032?
- What are the key developmental strategies implemented by the key participants in the space situational awareness services market?
- What are the key aspects of evolving customer requirements in the space situational awareness services market?
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In-Space Manufacturing, Servicing, and Transportation Market
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.
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