Global Space Debris Monitoring and Removal Market Grows Steadily at a CAGR of 7.9%

Introduction

The procedures and technologies used to measure and reduce the growing amount of space junk orbiting Earth are called space debris monitoring and removal. As human activity in space has increased, so has the accumulation of defunct satellites, expended rocket stages, and collision pieces, collectively known as space junk or orbital debris. The global space debris monitoring and removal market is expected to rise at an 8.6% CAGR because of increased concern about the sustainability of space activities and the escalating risk of orbital debris to functioning satellites and spacecraft.

The launch of several satellites for various purposes is hastening market growth. The growth rate of the Space Debris Monitoring and Removal Market increases as network-based platforms stimulate satellite launches. The rise of space solution service providers has been a major driver of industry expansion. Small-scale firms involved in debris design, testing, and monitoring help the market improve its trend. These companies are collaborating with important stakeholders to provide better space solutions. The monitoring functions of the debris are being developed to help the system run more smoothly.

Market Dynamics

Increasing Space Activities Fuels Market Growth

Mega-constellations with hundreds or thousands of tiny satellites are an example of growing space activities that cause space debris. SpaceX, OneWeb, and Amazon are considering massive constellation launches for worldwide internet coverage. Commercial insights into space debris monitoring and cleanup show that these constellations have many benefits but raise concerns about space debris growth. As of August 2021, the Union of Concerned Scientists (UCS) reported more than 3,400 active satellites orbiting Earth and proposed satellite mega-constellations will certainly increase this number.

The Satellite Industry Association's (SIA) 25th annual State of the Satellite Industry Report predicts USD 384 billion in global space economy income in 2022, up 4% from 2020. Over 73% of worldwide space activity was USD 281 billion from commercial satellites. As of August 2023, SpaceX has launched approximately 5,000 Starlink satellites into LEO. The company plans to install about 12,000 satellites, potentially 42,000.

Technological Innovation Creates Tremendous Opportunities

Space debris monitoring and clearing technology include improved catching devices. Robotic arms, nets, and harpoons are more precise and flexible. Academics and companies are studying debris collection employing multiple-degree-of-freedom robotic arms, sophisticated grabbing mechanisms, and adaptive algorithms. These technologies increase debris capture success and reduce removal collisions. The European Space Agency (ESA) financed "e.Deorbit," which aims to develop advanced technology for capturing and deorbiting large trash. These ventures demonstrate debris removal technology innovation.

AI and machine learning systems improve navigation, debris tracking, and prediction. This is crucial for debris removal. Ion thrusters and solar sails make trash disposal spacecraft more energy-efficient, allowing longer flights and more precise control. Technological advances in debris removal efficiency, accuracy, and success rate are driving the space debris monitoring and removal market trend. These technologies boost industrial growth, investment, space security, and sustainability.

Regional Insights

The North American market will dominate during projections. The US has more space companies than Europe and Asia. As a space technology leader, the US has launched various space debris monitoring efforts. The US Space Command manages the NORAD Space Surveillance Network. This network tracks thousands of Earth-orbiting objects to track space debris. Predicting potential collisions and avoiding catastrophic satellite collisions requires this data. NASA conducts space debris research and monitoring. Assessing space debris and finding mitigation methods requires NASA's Orbital Debris Program. The U.S. Department of Defense invests much in space debris monitoring to reduce it in the future. Altius Space, Northrop Grumman, and Boeing also drive North American market growth.

The European market is projected to grow rapidly. The Swiss Space Center at EPFL's "CleanSpace One" program is Europe's space rubbish clearance. The mission shows that a dead satellite may be captured and deorbited in LEO. CleanSpace One will use a robotic arm to remove a tiny satellite from orbit, lowering collision risk. The ESA and other space agencies are essential for monitoring and eliminating space debris. ESA signed a USD 106 million deal with Swiss startup Clearspace SA in December 2020. The ESA will buy a unique service to remove space debris from orbit under this contract. The Vespa (Vega secondary payload adapter) will be removed during this flight.

Key Highlights

• The global Space debris monitoring and removal market was valued at USD 1.1 billion in 2023 and is projected to reach USD 2.0 billion by 2031, registering a CAGR of 7.9% during the forecast period 2023-2031.
• The segment can be subdivided based on application into space debris monitoring and cleanup. The majority of the market is occupied by Space debris removal.
• The market is divided into three segments based on debris size: 1mm-1cm debris, 1cm-10cm debris, and >10cm debris. The market's growth was influenced by 1mm-1cm debris.
• The market is divided into two segments based on orbit type: Low Earth Orbit (LEO) and Geostationary Earth Orbit (GEO). The market was influenced by Low Earth Orbit (LEO).
• The market is segmented into business defense and personal defense. The commercial sector fostered market expansion.
• Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.

Competitive Players

1. Airbus SAS
2. Altius Space Machines
3. Astroscale Holdings
4. ClearSpace
5. D-Orbit
6. Electro Optic Systems
7. Lockheed Martin Corporation
8. Northrop Grumman Corporation
9. Obruta Space Solutions Corp.
10. Orbit Guardians Corporation
11. Share my space

Recent Developments

• May 2024– Airbus Defence and Space successfully provided the initial Sentinel-5 instrument to the European Space Agency (ESA), which will be incorporated into the MetOp Second Generation Satellite A. The UVNS (Ultraviolet Visible Near-infrared Short-wave infrared Spectrometer) equipment will enhance air quality surveillance, ozone layer alterations, and wildfire emissions.
• April 2024- Airbus initiated the Pléiades Neo Next initiative to enlarge its Earth observation constellation that provides highly detailed images of the planet. This new effort will lead to the creation of more satellite resources and capabilities, which will include an improved native resolution. Airbus is currently in the initial phase of Pléiades Neo Next, where they are working on developing a novel satellite that is scheduled to be launched within the following years.

Segmentation

1. By Application
   1. Space Debris Monitoring 
   2. Space Debris Removal
2. By Debris Size
   1. 1mm to 1cm 
   2. 1cm to 10cm 
   3. Greater than 10cm
3. By Orbit Type
   1. Low Earth Orbit (LEO) 
   2. Geostationary Earth Orbit (GEO)
4. By End-Use
   1. Commercial 
   2. Defense