Space Situational Awareness (SSA) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Space Situational Awareness (SSA) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Space Situational Awareness Market

The Space Situational Awareness Market Size was valued at USD 8.63 billion in 2023, and the Market is now projected to grow from USD 10.28 billion in 2024 to USD 49.75 billion by 2032, exhibiting a CAGR of 21.8% during the forecast period of 2024-2032.

With the rising pandemic effects, changed timely, the work from home and utilize digital solutions in the space industry including the SSA sector. Companies leveraged remote surveillance and command systems and digital cooperative work applications, and analytical platforms to support business and SSA efforts during shutdowns and restrictive travels. Due to the effects of COVID-19 and the consequent work-from-home policies and online meetings working, there was a rise in the need for satellite communication networks for communication. This has subsequently resulted in improved focus being placed in tracking and controlling the satellite orbits to avert mishaps hence more emphasis placed on satellite bandwidth and services, impeding the rise of Space Situational Awareness Market Growth.

The demand for Space Situational Awareness has risen due to the Growing Menace of Space Debris coupled with increased space activities, resulting in the expansion of Space Situational Awareness Market share globally. In orbit now is the increase in satellites and other man-made crafts hence the potential of space debris is becoming higher. In this case, one satellite collides with another or with debris causing the formation of more debris which could bring about the Kessler Syndrome which is a chain reaction. They pose a threat to operational satellites, crewed spacecraft, and important space infrastructure, indicating the importance of identifying and countering this activity through the development of efficient SSA.

Additionally, SSA is an innovative technique that has gained a lot of attention in recent years and involves using AI and ML algorithms to scrutinize extensive SSA data in real time and identify risks and suspicious trends. These technologies support real-time processing, fusion, and interpretation of SSA-related sensor data and in turn aid in the enhancement of effect SSA systems.

Comprehensive Analysis of Space Situational Awareness Market

The Space Situational Awareness Market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the Aerospace & defense Industry. These Segmentations are methodically segregated by Offering, by Service, by Object and by End-User. The Offering includes Services and Software. The Object includes Mission related debris, Rocket Bodies, Fragmentation debris, Non-functional Spacecraft, and Functional Spacecraft. However, The End-User includes Commercial and Military & Government.

The North American region leads the Space Situational Awareness Market by benefitting a market size of USD 678.6 billion in 2023 due to the presence of major service providers in the region.

The top players in the market play a crucial role in the Aerospace & defense Industry assuring industrial prospectus growth and setting market standards. These players includes Lockheed Martin Corporation (US), L3 Harris Technologies Inc. (US), Kratos Defense & Security Solutions, Inc. (US), Parsons Corporation (US), Safran Data Systems, Inc. (US), Raytheon Technologies Corporation (US), Atlas Space Operations Inc. (US), CACI International Inc. (US), AstronetX PBC (US), Slingshot Aerospace (US). These market players provide a level playing competitive landscape.

In October 2023, The identity of the two subcontractors was revealed by SRI International, with Leidos now going to be part of a space debris tracking project initiated by the US Intelligence community.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 6.5% from 2023 to 2030

Unit Value (USD Million)

Segmentation By Offering

Services

Software

By Service

Space Weather Services

Near-Earth Object Detection Services

Space Surveillance & Tracking Services

By Object

Mission Related Debris

Rocket Bodies

Fragmentation Debris

Non-Functional Spacecraft

Functional Spacecraft

By End-User

Commercial

Military & Government

By Geography

North America (By Offering, Service, Object, End-User, and Country)

- U.S. (By Offering)

- Canada (By Offering)

Europe (By Offering, Service, Object, End-User, and Country)

- U.K. (By Offering)

- Germany (By Offering)

- France (By Offering)

- Russia (By Offering)

- Rest of Europe (By Offering)

Asia Pacific (By Offering, Service, Object, End-User, and Country)

- China (By Offering)

- India (By Offering)

- Japan (By Offering)

- Australia (By Offering)

- Rest of the Asia Pacific (By Offering)

Rest of the World (By Offering, Service, Object, End-User, and Country)

- Middle East and Africa (By Offering)

- Latin America (By Offering)


Please Note: It will take 5-6 business days to complete the report upon order confirmation.