Space Debris Monitoring And Removal Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Space Debris Monitoring And Removal Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Space Debris Monitoring And Removal Market

The space debris monitoring and removal market size was valued at USD 866.4 million in 2021, and the market is now projected to grow from USD 942.3 million in 2022 to USD 1,527.7 million by 2029, exhibiting a CAGR of 7.15% during the forecast period of 2022-2029.

The COVID-19 outbreak impacted planned public spaces, privatizing space services for interstellar commercial transport. OrbitGuardians, an American start-up, uses artificial intelligence and the Internet of Things for post-launch searching and elimination of space of size smaller than 20 cm from space. In contrast, Astroscale, a Japanese start-up law firm in space administration, operates space debris and end-of-life services removal services in collaboration with the Japanese space exploration agency. This transition towards private participation in such processes is already influencing the space debris monitoring and removal market growth and solutions.

The rising trend in satellite launches due to increased global communications demand is the major driving force in space debris monitoring and removal market share. Starlink project under SpaceX proposed by the FCC will add thousands of satellites, NASA’s recent contracts with private companies promote near-Earth communication advancement. Furthermore, players such as the US, Russia, China and India have stepped up activities in sending orbital launches with ISRO contracting for exports to launch foreign satellites, increasing congestion in orbits around the earth.

Furthermore, the rise in small-scale space solution providers drives advancements in space debris monitoring and removal. Canada-based Obruta Space Solutions is creating sustainable on-orbit services, offering satellite repair and refuelling to extend satellite lifespans and reduce debris. Their tethered-net removal technology supports debris monitoring efforts and partnerships with major space industry players are expanding their reach in space-based services.

Comprehensive Analysis of Space Debris Monitoring And Removal Market

The space debris monitoring and removal market and aerospace & defence industry are rising at an exponential rate due to its market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the aerospace & defence industry. These segmentations are methodically segregated by application, by debris size range, by orbit type and by end-use. The application includes, Space Debris Monitoring and Space Debris Removal. The debris size range includes, 1mm to 1cm Debris Size, 1cm to 10cm Debris Size and Greater than 10cm. The orbit type includes, Low Earth Orbit (LEO) and Geostationary Earth Orbit (GEO). The end-use includes, Commercial and Defense.

North America, valued at USD 268.6 million in 2021, is projected to dominate the space debris monitoring market through 2029. The U.S. is home to the largest space-based companies compared to European and Asian counterparts. Substantial investments by the Department of Defense (DOD) in monitoring space debris further drive market growth. Key organizations such as Altius Space, Northrop Grumman and Boeing contribute to this expanding landscape.

The key industry players in the market play a crucial role in the aerospace & defence industry assuring industrial prospectus growth and setting market standards. These players include, Airbus S.A.S (Netherlands), Astroscale (Netherlands), ClearSpace (Switzerland), Electro Optic Systems (Australia), Lockheed Martin Corporation (U.S.), Northrop Grumman Corporation (U.S.), Orbit Guardians (U.S.), Obruta (Canada), Share my space (France) and Voyager Space Holdings Inc. (U.S.). These market players provide a level-playing competitive landscape.

In April 2021, Northrop Grumman Corporation has recently deployed into space the Mission Extension Vehicle 2, a robot aimed at increasing the duration of life of satellites. The mission aims at taking objects from space in 2025 considered a space debris region.

Segmentation Table

Global Space Debris Monitoring And Removal Market Scope

Study Period 2018-2029

Base Year 2021

Forecast Period 2022-2029

Growth Rate CAGR of 7.15% from 2022 to 2029

Historical Period 2018-2020

Unit Value (USD Billion)

Segmentation By Application, Debris Size Range, Orbit Type, End-use, and Geography

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 Geography North America (By Application, Debris Size Range, Orbit Type, End-use, and Country)

U.S. (By Application)

Canada (By Application)

Europe (By Application, Debris Size Range, Orbit Type, End-use, and Country)

U.K. (By Application)

Germany (By Application)

France (By Application)

Russia (By Application)

Switzerland (By Application)

Rest of Europe (By Application)

Asia Pacific (By Application, Debris Size Range, Orbit Type, End-use, and Country)

China (By Application)

India (By Application)

Japan (By Application)

Australia (By Application)

Rest of Asia Pacific (By Application)

Rest of the World (By Application, Debris Size Range, Orbit Type, End-use, and Sub-Region)

Middle East & Africa (By Application)

Latin America (By Application)

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