Global Space Debris Monitoring and Removal Market Size study & Forecast, by Application (Space Debris Monitoring, Space Debris Removal) by Debris Size Range (1mm to 1cm Debris Size, 1cm to 10cm Debris Size, Greater than 10cm), by Orbit Type (Low Earth Or

Global Space Debris Monitoring and Removal Market Size study & Forecast, by Application (Space Debris Monitoring, Space Debris Removal) by Debris Size Range (1mm to 1cm Debris Size, 1cm to 10cm Debris Size, Greater than 10cm), by Orbit Type (Low Earth Orbit (LEO), Geostationary Earth Orbit (GEO)), by End Use (Commercial, Defense) and Regional Analysis, 2023-2030

Global Space Debris Monitoring and Removal Market is valued approximately USD 942.3 million in 2022 and is anticipated to grow with a healthy growth rate of more than 7.15% over the forecast period 2023-2030. Space debris monitoring and removal refer to the processes and technologies involved in tracking, observing, and mitigating the increasing amount of space debris orbiting Earth. Space debris, also known as space junk, includes defunct satellites, spent rocket stages, fragments from spacecraft collisions, and other debris resulting from human space activities. The Space Debris Monitoring and Removal market is expanding because of factors such as rising satellite launches and space exploration activities and surging partnership among key nations for space situational alertness.

The Rising number of satellites launched and space exploration activities is driving the market growth. The exponential increase in international demand for network, communication, and network-based services has made space launches conceivable. NASA and commercial companies agreed to a deal of USD 280 million in April 2022 to start creating near-Earth space communication services. Near-Earth space communication services are being developed and demonstrated by the firms. SpaceX, Kuiper Government Solutions, Viasat Incorporated, Inmarsat Government, SES Government Solutions, and Telesat U.S. Services are a few of the commercial businesses. The space agency also revealed that four additional missions will be launched this year, 24 Earth-science missions are now orbiting the planet, and four more missions launched in 2022. The United Launch Alliance and SpaceX inked a USD 846 million contract with the U.S. Space Force in June 2022 for missions slated to launch during the next two years. 60% of the National Security Space Launch (NSSL) missions scheduled to launch over the next five years to 2027 were awarded to ULA, while 40% went to SpaceX. Thus, the rising number of space launches activities across the world is fostering market growth. In addition, the increasing number of space solution service providers and growing investment activities are creating lucrative opportunity to the market. However, the lack of regulatory norms for removal of space debris stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Space Debris Monitoring and Removal Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players, and rising number of space launches activities in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising number of space exploration activities, rising investment of space launches, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
Airbus S.A.S
Astroscale Holdings Inc.
ClearSpace Pvt Ltd
Electro Optic Systems Holdings Limited
Lockheed Martin Corporation
Northrop Grumman Corporation
Orbit Guardians Corporation
Obruta Space Solutions Corp
Share my space
Voyager Space Holdings Inc.

Recent Developments in the Market:
 In April 2021, The Northrop Grumman Corporation launched a robot spacecraft named the Mission Extension Vehicle 2 to aid in prolonging the life of satellites in orbit. The mission is planned to clear space debris by 2025.
 In March 2021, NASA and SpaceX signed a formal agreement to share information in order to preserve and improve space safety in the near future. According to the rules of this agreement, a vast constellation of SpaceX Starlink satellites and NASA spacecraft must be used to prevent conjunction and launch collisions.

Global Space Debris Monitoring and Removal Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Application, Debris Size Range, Orbit Type, End Use, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Application:
Space Debris Monitoring
Space Debris Removal

By Debris Size Range:
1mm to 1cm Debris Size
1cm to 10cm Debris Size
Greater than 10cm

By Orbit Type:
Low Earth Orbit (LEO)
Geostationary Earth Orbit (GEO)

By End Use:
Commercial
Defense

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned

Airbus S.A.S
Astroscale Holdings Inc.
ClearSpace Pvt Ltd
Electro Optic Systems Holdings Limited
Lockheed Martin Corporation
Northrop Grumman Corporation
Orbit Guardians Corporation
Obruta Space Solutions Corp
Share my space
Voyager Space Holdings Inc.

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