Space Debris Monitoring and Removal Market

Market Overview

The global space debris monitoring and removal market size was valued at USD 1,095 million in 2023 and is projected to reach USD 2,082 million by 2032, registering a CAGR of 7.4% during the forecast period (2024-2032). The market is witnessing a surge in demand due to several space exploration efforts undertaken by the government.

Space debris refers to artificial objects that are no longer operational yet continue to orbit the Earth. Space debris relates to anything in space, such as decommissioned spacecraft, components of launch vehicles, and other discarded equipment that serve no purpose. Space debris monitoring and removal companies have experienced a significant increase in demand due to the proliferation of space organizations and agencies. The NASA Orbital Debris Program was initiated in 1979 inside the Space Sciences Branch in Houston, Texas. The program sought methods to minimize the amount of orbital debris and developed devices to monitor and eliminate the existing trash in space. 

The deployment of diverse satellites for varied objectives is fueling the expansion of the market. The emergence of space solution service providers has significantly contributed to the market's expansion. Space debris monitoring and cleanup firms are crucial players in the space industry and are responsible for addressing the issue of space debris. The market demand is growing due to various space exploration operations. The significant growth of communication and network-based services is fueling the demand for satellite launches, serving as a critical driver for the market. Orbital launches have been augmented in multiple places worldwide. The collaboration of prominent stakeholders from various nations to promote knowledge about space solutions enhances the expansion of the market for monitoring and eliminating space debris.

Top 4 Key Highlights

• Space debris removal generates the highest revenue share based on application.
• 1mm to 1cm accounts for the largest market share by debris size.
• Low Earth Orbit (LEO) influenced the market growth by orbit type.
• Commercials contribute significantly to the market through end-use.

Market Dynamics

Market Drivers

Rising Satellite Launches and Space Exploration Activities 

The increasing need for network and communication services worldwide has facilitated space launches in recent years. SpaceX's Starlink program has been granted authority by the US Federal Communication Commission (FCC) to deploy a constellation of 12,000 compact satellites for internet connectivity. Furthermore, the corporation is preparing to secure a frequency range to deploy a 30000 satellite system soon. In April 2022, NASA entered into a contract valued at USD 280 million with commercial companies to initiate the development of communication services for space near Earth. The companies actively develop and showcase communication services close to Earth's orbit. The private entities include SpaceX, Inmarsat Government, SES Government Solutions, Viasat Incorporated, Kuiper Government Solutions, and Telesat US Services. 

Similarly, the US Space Force has experienced a surge in demand for satellite launches specifically for the ULA mission. In June 2022, the US Space Force entered a contract worth USD 846 million with United Launch Alliance and SpaceX. The agreement pertains to upcoming missions anticipated to occur during the following two years. ULA was awarded 60% of the National Security Space Launch (NSSL) missions scheduled for the next five years until 2027, while SpaceX secured 40%. In addition, in December 2021, ISRO entered into six agreements with four countries to launch foreign satellites between 2021 and 2023. ISRO has been conducting commercial satellite launches for foreign countries using the Polar Satellite Launch Vehicle (PSLV).

Market Restraints

Lack of Regulatory Regulations for Removal of Space Debris 

Scientists and experts have extensively studied space debris. Still, it has yet to receive legal recognition to establish a comprehensive international framework for addressing the intricate legal challenges it presents. Challenges arise when negotiating and creating future legal regulations. It is necessary to provide a fair and equal playing field at an international level to prevent the emergence of unfair disadvantages and imbalanced costs for industries in specific nations.

Currently, the operation of space objects and debris management are governed by voluntary standards and guidelines. These guidelines are not legally binding and are issued by organizations such as the Inter-Agency Space Debris Coordination Committee, the United Nations, the International Organization for Standardization (ISO), and the International Telecommunication Union (ITU). These standards serve as benchmarks for the anticipated level of care that manufacturers and operators should adhere to when creating space debris. However, there are currently no obligatory global guidelines for managing space debris that might serve as a benchmark for evaluating responsibility.

Moreover, the central space agencies, including NASA, CNSA, ESA, Roscosmos, DLR, CNES, and others, have established a set of regulatory standards to address the issue of space debris through monitoring and removal procedures. However, most of the regulations are limited to the surveillance element of space debris. The relevant agencies and governing bodies have yet to state or draft any norms for debris clearance. Consequently, the space debris cleanup sector has experienced a surge in global market expansion.

Market Opportunity

Surging Collaborations Among Key Nations 

Space is being recognized as a strategically important domain for national security in the United States, China, Russia, and India. European and Asian nations eagerly anticipate utilizing space for safety, national security, and scientific research. Currently, around 80 countries are engaged in the space sector. In April 2022, the Indian Government and the US Government entered into a contract for a new 'Space Situational Awareness' agreement. The signing of the Space Situational Awareness (SSA) agreement would facilitate the sharing of information regarding the potential risks faced by satellites and other assets, enhancing collaboration between the two governments. Under this arrangement, India will be provided with data from the United States regarding space debris and other celestial objects, along with the possible risks they may pose to the safety and security of upcoming space missions and existing satellites and other space assets.

Similarly, in April 2022, Atos and OHB entered into a contract with the German Federal Armed Forces to provide the "Space Situational Awareness Center Expansion Stage 1". Both businesses are assisting the German federal armed forces in developing a Space Situational Awareness (SSA) system to safeguard Germany's national space infrastructure. Further, LeoLabs and the UK Space Agency (UKSA) partnered in May 2022. LeoLabs is supplying the UK Space Agency (UKSA) with real-time observation data from its worldwide radar network for all satellites licensed in low Earth orbit (LEO) in the United Kingdom, per this contract agreement's terms. Consequently, the increasing need for governments to form partnerships to collaborate on managing space traffic is anticipated to drive market expansion.

Regional Analysis

The global space debris monitoring and removal market analysis is conducted across North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America's space debris monitoring and removal market share is estimated to grow at a CAGR of 7.5% over the forecast period. North America dominated the market throughout the projected timeframe due to the implementation of stringent rules by the US government regarding the sale and distribution of space-related goods and the growing number of space launches in the region. Due to its significant impact on the business and the existence of the International Traffic in Arms Regulations (ITAR), the United States has become the primary potential regulator. ITAR is a United States regulatory framework that governs the manufacturing, trade, distribution, and utilization of defense and space-related commodities. The US players in the space industry face high costs and difficulties when attempting to engage in business activities that do not adhere to US regulations. Consequently, the United States will formulate effective regulations to regulate space debris.

Europe is anticipated to exhibit a CAGR of 8.2% over the forecast period. This may be attributed to significant factors such as the utilization of satellites in military operations, cooperation among key stakeholders to address space debris, and several other space-related activities. In September 2022, the UK Space Agency awarded ClearSpace and Astroscale a grant of EUR 4 million to develop missions to remove existing space debris in orbit. These missions will involve collaboration with a consortium of industry partners.

Furthermore, the region is seeing development due to many causes, such as the rise in space exploration endeavors, heightened investment in space launches, the expansion of significant firms into new geographical areas, and the active involvement of governmental and charity organizations in the market sector. The European Space Agency (ESA) and other space-based organizations are essential for monitoring and removing space debris from orbit. In December 2020, the European Space Agency (ESA) entered a deal worth USD 106 million with Clearspace SA, a Swiss start-up company. According to this agreement, the European Space Agency (ESA) will acquire an exclusive service for the initial elimination of a piece of space debris from its orbit. This mission aims to extract the Vespa (Vega secondary payload adapter) from its current orbit.

The Asia-Pacific region is projected to experience a higher compound annual growth rate (CAGR) throughout the projection period. The growth might be attributed to India, China, and Japan's increasing need for satellite situational awareness capabilities. Chinese companies are designing and developing an optical sensor network, the Asia Pacific Optical Satellite Observation System (APOSOS), in partnership with their space network, the Asia Pacific Space Cooperation Organization (APSCO).

Segmental Analysis

The global space debris monitoring and removal market is segmented based on application, debris size range, orbit type, and end-use. 

The market is bifurcated based on applications into Space Debris Monitoring and Space Debris Removal. The space debris removal segment dominated the market in 2023. The segment growth can be attributed to the increasing implementation of measures by multiple space organizations to remove space debris in recent years. The space debris monitoring segment is the fastest growing, primarily driven by the increased space exploration activities and the development of space debris modeling.

Based on the debris size range, the market is segmented into 1mm to 1cm, 1cm to 10cm, and Greater than 10cm. The 1mm to 1cm segment dominated the market in 2023. This was primarily due to a rise in rocket bodies and small objects resulting from satellite launches worldwide. The European Space Agency reports that about 128 million objects are in orbit around the Earth. The 1 to 10cm segment is growing fastest due to increasing space exploration operations. Approximately 90,000 items are believed to exist in low Earth and geosynchronous orbit. This debris is impeding the trajectory of the satellites orbiting the Earth. Therefore, eliminating this trash will enhance the development of the segment. If segments more significant than 10cm are present, the increase in space launches in the Low Earth Orbit (LEO) may result in a rise in the amount of debris in the coming years. This will enhance the expansion of the market.

Based on orbit type, the market is divided into Low Earth Orbit (LEO) and Geostationary Earth Orbit (GEO). The Low Earth Orbit (LEO) segment dominated the market in 2023. The increase is ascribed to the escalating interest of the participants in deploying communication satellites in the Low Earth Orbit (LEO) within the next five years. SpaceX intends to establish global internet coverage within the next five years. The corporation plans to deploy 1,440 satellites as part of the Starlink initiative to offer internet connectivity. This will result in the proliferation of space junk in the Low Earth Orbit (LEO), promoting market expansion. The Geostationary Earth Orbit (GEO) segment is the fastest growing, driven by increased government funding for space exploration operations in various economies.

Based on end-use, the market is divided into Commercial and Defense. The commercial segment dominated the market in 2023. The increase is ascribed to the expanding quantity of commercial enterprises engaged in surveilling and eliminating space debris from the Earth's orbit. Several emerging companies in Asian and European nations eagerly anticipate the opportunity to create and implement procedures for removing garbage in the upcoming years. The defense segment is the fastest growing because of the rising investments made by governments and agencies of many nations, such as the National Aeronautics and Space Administration's (NASA) orbital debris program interface.

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.