Global Space Debris Removal Market - 2024-2031

Global Space Debris Removal Market - 2024-2031

Global Space Debris Removal Market reached US$ 101.2 Million in 2023 and is expected to reach US$ 1,635.6 Million by 2031, growing with a CAGR of 41.6% during the forecast period 2024-2031.

The market for space debris maintenance is mostly driven by the dangers of orbital collisions. To maintain the long-term viability and safety of space activities, there is a growing requirement for handling space debris as the number of satellites, rocket stages and other space objects in orbit increases. The market demand for space debris removal technologies is driven by international frameworks and programs that promote space sustainability, such as United Nations Committee on the Peaceful Uses of Outer Space recommendations on space debris reduction. The significance of responsible space operations and attempts to mitigate debris is acknowledged by stakeholders.

Growing product launches by the major players help to boost market growth over the forecast period. For instance, on May 10, 2023, ClearSpace and Arianespace signed a contract to launch the first active debris removal mission with Arianespace. The first active debris removal mission can capture and deorbit a derelict space debris object of more than 100kg. The top portion of a VESPA (Vega Secondary Payload Adapter), which was left in a progressive disposal orbit after a Vega launcher's second flight in 2013, is the space debris item that this mission is removing.

North America is a dominating region in the global debris removal market due to the growing product launches and innovations in the region. For instance, on September 21, 2021, Rocket Lab USA, Inc. a global leader in launch services and space systems signed a contract with Astroscale Japan Inc. The Active Debris Removal by Astroscale-Japan (ADRAS-J) satellite has been chosen by the Japan Aerospace Exploration Agency (JAXA) for Phase I of its Commercial Removal of Debris Demonstration Project (CRD2), which is one of the first technological demonstrations of removing large-scale debris from orbit. The Electron rocket is scheduled to launch from Rocket Lab Launch Complex 1 in 2023.

Dynamics

Growing Number of Satellite Launches

The overall amount of space debris in Earth's orbit grows with the number of space missions, rocket stages and satellite launches. The population of garbage is growing, which increases the demand for technology and debris removal services as well as awareness of the urgency of removing space rubbish swiftly. The probability of collisions in space increases with the number of satellites and other space objects. The Kessler Syndrome is a sequence of collisions that occur when space debris, lost spacecraft and operating satellites crash. Satellite operators look for debris removal technologies to reduce the danger of collisions and safeguard important assets.

Space agencies and regulatory bodies prioritize enhancing space situational awareness, debris monitoring capabilities and collision avoidance maneuvers. Space debris removal is crucial for safe space operations and orbital congestion management. According to data from Euroconsultant estimate, 8 spacecraft or more than 2,800 satellites with a mass of 4 Tons, are launched annually. To maintain safe space operations and manage orbital congestion, space debris cleanup is essential. Based on the information provided by Euroconsultant projection, over 2,800 satellites with a mass of 4 Tons are launched per year or 8 spacecraft every day.

Growing Government Initiatives

Governments allocate significant funding and grants to support space debris removal research, development and operational initiatives. Government funding accelerates market growth by providing financial resources for data analysis, mission planning, technological development and launch operations. The advancement of robotics, propulsion systems, materials and space debris removal technologies are the main areas of concentration for government-funded research and development (R&D) programs. Research and development (R&D) endeavors encourage creativity, propel technical progress and amplify the potential of space debris removal solutions, hence propelling market expansion.

Governments collaborate with private sector companies, research institutions and academic organizations through PPPs to promote space debris mitigation, cleanup and sustainability efforts. PPPs combine funds, resources and experience from both industries to encourage innovation, information sharing and market growth. To reduce space trash, maintain orbital safety and promote space sustainability, governments set legislative frameworks, policies and regulations. Investment in debris removal technology and services is encouraged, market certainty is created and responsible space activities are promoted by well-defined laws and compliance requirements. For instance, on March 25, 2024, the ISRO Polar Satellite Launch Vehicle (PSLV), accomplished zero orbital debris mission and described it as ""another milestone"". In orbit, the PSLV-C58/XPoSat mission has essentially left no waste behind.

High Costs

For new rivals entering the market, the high expenses of planning, executing and managing space debris removal missions provide a barrier. It is difficult for smaller businesses or organizations to compete or undertake investments in projects and technology for debris removal if they have limited resources. Investments in space debris cleaning efforts are discouraged by high prices. Due to the large initial investment needed, ongoing operating costs, technical complexity and unpredictability in market demand and profitability, investors see the market as hazardous.

The ongoing operational expenses for space debris removal missions, including spacecraft maintenance, ground operations, mission control, data analysis and personnel costs, contribute to the overall high costs. The expenses can strain budgets and impact the financial viability of debris removal initiatives. The research, development, testing and certification expenditures associated with developing cutting-edge technology for space debris collection, rendezvous, propulsion, navigation and disposal are substantial. The entire economic burden is increased by the complexity of space debris removal systems and the requirement for strong, dependable and mission-ready technology.

Segment Analysis

The global space debris removal market is segmented based on debris size, orbit, technique, end-user and region.

Commercial End-User is Dominating in the Space Debris Removal Market

Based on the end-user the space debris removal market is segmented into commercial and government.

The industrialization of space activities, such as satellite constellations, space tourism and communication networks, has resulted in an enormous increase in the quantity of commercial space resources. The considerable interest that commercial operators have in protecting their assets and ensuring the sustainability of their space operations is driving the need for services related to cleaning up space debris. Collisions with space debris present a concern to commercial satellite operators and can affect the longevity, operation and success of satellite missions. By actively addressing collision risks, reducing debris dangers and guaranteeing the safe operation of commercial satellite fleets, space debris removal services provide risk management solutions.

Companies are paying increasing attention to following space sustainability policies, rules and best practices concerning space debris reduction. Initiatives for eliminating space debris show a dedication to ethical space operations, environmental conservation and respect for international space debris mitigation standards. Commercial operators make large financial investments in Earth observation systems, communications networks, satellite infrastructure and other space assets. By lowering the risk of accidents, minimizing operational delays and guaranteeing the long-term profitability of commercial space endeavors, space debris removal services help safeguard these priceless assets.

Geographical Penetration

North America is Dominating the Space Debris Removal Market

The space industry ecosystem in North America and especially in United States, is highly developed and advanced. Major space organizations like NASA (National Aeronautics and Space Administration) as well as top aerospace companies, academic institutions and technology suppliers with expertise in space exploration, satellite production and space debris mitigation are based in the region. Whether it comes to the development of robots, autonomous systems and space technology, North America is ideally placed. Effective missions and techniques for the cleanup of space debris are made possible by the region's expertise in the construction and deployment of advanced satellites and spacecraft.

Initiatives for the exploration of space, research and development including those to remove space debris are heavily financed and supported by US government. Organizations like NASA and the Department of Defense (DoD) allocate funds for debris monitoring, cleanup and space situational awareness, which propels regional investment and market expansion. Private sector initiatives aid government endeavors and position the sector as a leader in technology and services for cleaning up space debris.

Competitive Landscape

The major global players in the market include Astroscale, ClearSpace, Surrey Satellite Technology Ltd, Northrop Grumman, Kall Morris Incorporated, Obruta Space Solutions Corp., Lockheed Martin Corporation, Share My Space SAS, Electro Optic Systems and OrbitGuardians.

COVID-19 Impact Analysis

Global supply chains were disrupted by the pandemic, which had an impact on the availability of components, supplies and machinery required for space debris cleaning technology. Space debris cleanup mission deployment schedules and project timeframes have been affected by delays in production, shipping and logistics. The pandemic's budget reallocations and economic worries caused delays and financing difficulties for several space-related initiatives and notably to remove space debris. Due to the prioritization of vital services and programs by governments, space agencies and commercial businesses, space debris clearance efforts have been delayed or decreased.

Collaboration, coordination and project execution in space debris cleanup were impacted by remote work arrangements and limitations on travel and in-person activities. Due to restricted access to the facilities, labs and testing environments needed for space technology development and validation, engineering, testing and operational operations have been challenging. Funding availability for space debris clearance projects was impacted by investor confidence and market concern brought on by the epidemic. There may have been an influence on venture capital investments, financing for startups and commercial collaborations in the space sector, which would have slowed down innovation and market expansion.

Russia-Ukraine War Impact Analysis

Geopolitical tensions and regulatory uncertainties are caused by the war, particularly in the space sector. Market dynamics are impacted by modifications to export regulations, trade restrictions and international cooperation agreements affecting the flow of technology, equipment and services linked to the clearance of space debris. Global supply chains for systems, resources and components related to space technology might be disrupted by the war. Disruptions in the supply chain cause a delay in the development and implementation of technology for removing space debris, such as robotic arms, propulsion systems and satellite maintenance vehicles, which impacts project timetables and market timeframes.

Political disputes have an impact on international cooperation and collaborations in the space debris authorization industry. Collaborations in research, joint ventures and shared efforts between nations and space agencies encounter difficulties or be shelved, which might affect market innovation, information sharing and technological advancement. Changes in national space policy, budget allocations and priorities may result from the dispute. Investments in space debris prevention and cleaning projects are impacted if governments and space agencies divert funds to goals related to geopolitics, national security and defense.

By Debris Size
• 1mm to 10mm
• 10mm to 100mm
• Greater than 100mm

By Orbit
• Low Earth Orbit
• Medium Earth Orbit
• Geostationary Earth Orbit

By Technique
• Direct
• Indirect

By End-User
• Commercial
• Government

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On February 19, 2024, Astroscale Holdings, a Japanese startup launched a satellite to survey the state of a jettisoned rocket section in orbit in space. It is the first technology for space debris removal. It is currently orbiting 600 kilometers above the Earth's surface at high speed.
• On February 09, 2024, Rocket Lab launched Astroscale Orbital Debris Removal Satellite Complex 1 in New Zealand. The mission of this program is orbital debris removal. ADRAS-J is flying around the stage, 11 meters long and four meters in diameter attached with inspection cameras.
• On April 26, 2024, Astroscale launched the World’s First Image of Space Debris Captured through Rendezvous and Proximity Operations. The image was taken by its commercial debris inspection demonstration satellite, Active Debris Removal by Astroscale-Japan (ADRAS-J), from several hundred meters behind the space debris, a rocket upper stage.

Why Purchase the Report?
• To visualize the global space debris removal market segmentation based on debris size, orbit, technique, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of space debris removal market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global space debris removal market report would provide approximately 62 tables, 51 figures and 180 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies