Space Situational Awareness (SSA) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Software and Services), Object (Mission-Related Debris, Rocket Bodies, Fragmentation Debris, Functional Spacecraft, and Non-Functional Spacecraft)

Space Situational Awareness (SSA) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Software and Services), Object (Mission-Related Debris, Rocket Bodies, Fragmentation Debris, Functional Spacecraft, and Non-Functional Spacecraft), End User (Commercial and Government & Military), and Orbit Range (Deep Space and Near Earth)

The global space situational awareness (SSA) market was valued at US$ 1,535.91 million in 2022 and is expected to register a CAGR of 6.0% during the forecast period of 2022 to 2028 to reach US$ 2,178.89 million by 2028.

As per the International Astronomical Union (IAU), a satellite constellation consists of a number of satellites that are similar in type, function, and design in complementary orbits for a shared purpose under shared control. Satellite constellations have applications such as navigation and geodesy, satellite telephony, and Earth observation. Companies are planning large-scale satellite constellations in LEO and mid-Earth orbits to provide global Internet of Things (IoT) or satellite internet to connect machines and systems directly. As per IAU, a constellation with thousands of individual units at low altitudes can reduce signal latency while maintaining high levels of coverage, especially in remote areas without developed ground infrastructure. Currently, nearly 2,000 active satellites are orbiting the Earth and the number is expected to increase manifold, as there are several planned satellite constellation deployments in the coming decades. In March 2023, OneWeb confirmed the successful deployment and contact of 40 satellites launched by a SpaceX vessel. The deployment led to a total count of 582 satellites in the company's constellation. As interest progresses for satellite constellation, it will also create space congestion and a higher amount of space debris. Such trends are thus expected to promote the space situational awareness (SSA) market size in the near future.

Parsons Corporation, Kratos Defense & Security Solutions Inc, L3Harris Technologies Inc, Lockheed Martin Corporation, and Telespazio SpA are among the key space situational awareness (SSA) market players operating across the world. The listing of key space situational awareness (SSA) market players is derived by considering multiple parameters such as overall revenue, brand image, current space situational awareness portfolio in terms of number of models, technology integration & product enhancements, geographic reach, new product/feature launches, market initiatives, mergers & acquisitions, and other market-related activities. In addition to these players, multiple other leading global and regional market players, emerging companies, market disruptors and niche market players operating in the space situational awareness (SSA) market ecosystem were also studied and analyzed during this study.

SSA software solutions aid in orbit determination and tracking various space objects while assessing potential collisions in space. COMSPOC Corp provides SSA Software Suite (SSS), a comprehensive Space Operations Center (SpOC) software solution in a services-oriented architecture. As per the company, its solution integrates all phases of the SSA process, from initial observation and collection to processing and actionable predictive analysis. The availability of such varied solutions has primarily fueled the space situational awareness (SSA) market growth for software segment.

Additionally, owing to the growing demand, several startups are entering the space situational awareness (SSA) market and offering innovative solutions. Lumi Space Ltd, Vyoma GmbH, and Share My Space are among the notable startups in the SSA domain. Several companies have been partnering with such startups to utilize the innovative solutions developed by these startups. In March 2023, Airbus SE signed a contract with French SSA startup Share My Space. Under the agreement, Airbus will assess the reliability of Share My Space’s collision alert data and overall risk management practices. In February 2023, Vyoma partnered with EnduroSat to help improve the safety of satellites in the orbit. Both parties agreed upon a Memorandum of Understanding (MoU) outlining how the two companies will support each other to enhance the sustainability of space activities. In July 2022, Space Forge partnered with SSA startup Lumi Space for its Virgin Orbit launch from the UK. Such trends have been rising at a notable pace across the world, thereby promoting the space situational awareness (SSA) market growth.

Based on offering, the space situational awareness (SSA) market size is bifurcated into software and service. By object, the space situational awareness (SSA) market is segmented into mission-related debris, rocket bodies, fragmentation debris, functional spacecraft, and nonfunctional spacecraft. In terms of end user, the space situational awareness (SSA) market is categorized into commercial and government & military. Based on orbit range, the space situational awareness (SSA) market is bifurcated into deep space and near-earth.

Analytical Graphics, Inc.; Exoanalytic Solutions, Inc; Globvision Inc.; GMV Innovating Solutions SL; L3Harris Technologies, Inc.; Kratos Defense and Security Solutions, Inc.; Lockheed Martin Corporation; Parsons Corporation; Belcan; and Spacenav LLC are among the few key players operating in the space situational awareness (SSA) market. The space situational awareness (SSA) market report provides detailed insights, which helps the key players strategize their growth.

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