Global Space Situational Awareness Services Market Grows Steadily at a CAGR of 3.1%

Introduction

The provision of space situational awareness (SSA) services is the cornerstone of space security. These involve keeping track of all artificial and natural things, particle fluxes, and energy and comprehending how the space picture is constantly evolving. Space situational awareness (SSA) services involve tracking, monitoring, finding objects in space, and predicting their future whereabouts. The SSA system primarily concerns space surveillance and tracking, weather, and near-Earth. Using a network of radar and electro-optical sensors, it monitors the flow of all artificial and natural items, energy, and particles.

Between 2022 and 2032, 45,131 spacecraft will be launched globally, according to the projection for satellite launches. It is estimated that 95 percent of these 45,131 satellites will operate in low Earth orbit (LEO). This demonstrates that more than 95% of satellites are anticipated to operate in a single orbital section, resulting in rising congestion that raises concerns about the possibility of collision and space debris. In the subsequent years, the number of satellite launches will increase as more commercial satellite operators enter the market. This suggests that space industry congestion and risk from space debris will continue to grow. As a result of this predicament, the need for space situational awareness services is anticipated to remain high.

Market Dynamics

Increased Number of Satellites in LEO Results Drives the Global Market

The worldwide satellite launch projection predicts that 45,131 spacecraft will be launched between 2022 and 2032. Almost ninety-five percent of these 45,131 satellites are anticipated to operate in the LEO, indicating that a growing level of orbital congestion is expected. This raises the chance of accidents by putting more satellite constellations near one another. The operator will require increased SSA services to successfully operate the satellite in the crowded Orbit and prevent it from collapsing.

Evolving Constellation Operational Requirements and Increasing Automation of Mission Operations Creates Tremendous Opportunities

As the number of satellite constellations has increased, mission operations for constellation operators have become more complicated. To manage satellite constellations, satellite, and ground station operators would need high-efficiency and high-processing computation systems that process millions of information in microseconds and offer information on the satellite's location and attributes. This leads to satellite operators receiving assistance from specialized SSA service providers with more excellent capabilities.

The increasing satellite constellations in a densely populated space environment complicated mission operation. Satellite operators employ artificial intelligence (machine learning) to process the massive amounts of data flowing during satellite operations to reduce the human labor required for these complicated mission operations. In addition, the operators will use artificial intelligence with onboard computers to autonomously recognize danger and execute moves.

Regional Analysis

North America is the most significant shareholder and is estimated to exhibit a CAGR of 0.6% during the forecast period. The North American region consists of the U.S. and Canadian regional markets. The North American area dominates the space situational awareness services industry, with the U.S. and Canadian industries likely to create enormous investments and income. The United States is believed to offer 80% of the world's space situational awareness services. Hence the need for these services is expected to stay high in North America until 2032. Moreover, the United States invests extensively in the research, development, and regulatory framework of space situational awareness services for various uses. Throughout the foreseeable future, its market share is anticipated to increase.

Europe is anticipated to grow at a CAGR of 1.6% during the forecast period. The market for space situational awareness services in Europe is still in its infancy. Presently, only four firms offer services for space situational awareness. This shows that competition in this region is low, allowing many new companies to provide space situational awareness services. As the frequency of European satellite launches is anticipated to rise, satellite operators and other interested parties will likely choose SSA services due to increasing congestion in low Earth orbits.

Key Highlights

• The global space situational awareness services market was worth USD 128.41 million in 2022 and is estimated to reach an expected value of USD 170.95 million by 2031, growing at a CAGR of 3.1% during the forecast period (2023 – 2031).
• By orbit, the global space situational awareness services market is divided into low Earth orbit (LEO), medium Earth orbit (MEO), and geosynchronous Earth orbit (GEO). The Low Earth Orbit (LEO) segment dominates the global market.
• By end-user, the global space situational awareness services market is divided into satellite operators, ground station service providers, launch service providers, national space agencies, in-orbit service providers, satellite manufacturers, and satellite subsystem and components manufacturers. The satellite operators segment owns the highest market share.
• By service, the global space situational awareness services are categorized into mission operation support, collision avoidance and tracking, interference avoidance, rendezvous support, and space weather. The collision avoidance and tracking segment dominates the global market and is estimated to exhibit a CAGR of 3.1% during the forecast period.
• North America is the most significant shareholder and is estimated to exhibit a CAGR of 0.6% during the forecast period.

Competitive Players

Competitive Players

The key players profiled in the global space situational awareness services market include LeoLabs, Inc., L3 Harris Technologies, Lockheed Martin Corporation Space-Track.Org, Kratos Defense and Security Solutions, Inc. Astroscale Holdings, Inc., Parsons Corporation Peraton, Privateer Space ExoAnalytic Solutions, Inc. Orion Space Solutions Elecnor Deimos Group, Electro Optic Systems Holdings Limited Share My Space, RBC Signals LLC., Vision Engineering Solutions, LLC Swedish Space corporation, GMV Innovating Solutions Globvision, Inc., NorthStar Earth and Space, Inc. Space Domain Awareness, Inc., and Launchspace Technologies Corporation Digantara.

Recent Developments

Market News

• In February 2023, Astroscale Holdings Inc. ("Astroscale"), the market leader in satellite servicing and long-term sustainability across all orbits, received an investment of USD 23 million from Yusaku Maezawa, the first private Japanese citizen to visit the International Space Station (ISS).

• In February 2023, The market leader in satellite servicing and long-term sustainability across all orbits, Astroscale Holdings Inc., and Mitsubishi Electric Corporation, a prominent defense and space company, announced that Mitsubishi Electric had contributed USD 25 million to Astroscale's Series G funding round. In addition to the investment, the companies have decided to work together to develop and produce sustainable satellite buses for Japanese national security constellations.

Segmentation

Global Space Situational Awareness Services Market: Segmentation

By Orbit

• Low Earth Orbit (LEO)
• Medium Earth Orbit (MEO)
• Geosynchronous Earth Orbit (GEO)

By End-User

• Satellite Operators
• Ground Station Service Providers
• Launch Service Providers
• National Space Agencies
• In-Orbit Service Providers
• Satellite Manufacturers
• Satellite Subsystem 
• Components Manufacturers

By Service 

• Mission Operation Support
• Collision Avoidance and Tracking
• Interference Avoidance
• Rendezvous Support
• Space Weather

By Regions

• North America 
• Europe 
• Asia-Pacific 
• Rest-of-the-World