Space Situational Awareness Market Share, Size, Trends, Industry Analysis Report, By Solution (Services, Payload Systems, Software), By Orbital Range (Near-Earth, Deep Space) By End-Use; By Object; By Region; Segment Forecast, 2022 - 2030

Space Situational Awareness Market Share, Size, Trends, Industry Analysis Report, By Solution (Services, Payload Systems, Software), By Orbital Range (Near-Earth, Deep Space) By End-Use; By Object; By Region; Segment Forecast, 2022 - 2030

The global space situational awareness market size is expected to reach USD 2.23 billion by 2030 according to a new study by Polaris Market Research. The report “Space Situational Awareness Market Share, Size, Trends, Industry Analysis Report, By Solution (Services, Payload Systems, Software), By Orbital Range (Near-Earth, Deep Space) By End-Use; By Object; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increase in infrastructure modernization contracts and the concentration of government agencies and corporate organizations on situational awareness contribute to the growth of the industry. For instance, in February 2021, the U.S. Space Force and Command have awarded L3Harris Technologies USD 89 million for available choice two of a contract for the maintenance and modernization of the resources.

The MOSSAIC program had a contract value of USD 1.2 Bn for ten years. This program enables the Force and Command to improve their systems for obtaining a complete picture of the behavior and position of objects. Based on the orbital range, the near-earth segment accounted for the leading share in the market in 2021. This segment is driven by the growing demand for high-speed and low-latency communication.