Space Situational Awareness Global Market Report 2023
Major players in the space situational awareness market are Lockheed Martin Corporation, Kratos Defense & Security Solutions Inc., Polaris Alpha Advanced Systems Inc., Applied Defense Solutions, Schafer, L3harris Technologies, Harris Company, GMV Corporation, Vision Engineering Solutions, Norstar Space Data, SpaceNav LLC, Elecnor Deimos Group, ExoAnalytic Solutions Inc.
New York, March 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Space Situational Awareness Global Market Report 2023" - https://www.reportlinker.com/p06433607/?utm_source=GNW
, Honeywell International Inc., and DRS Technologies.
The global space situational awareness market grew from $1.29 billion in 2022 to $1.42 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The space situational awareness market is expected to grow to $1.87 billion in 2027 at a CAGR of 7.1%.
The space situational awareness market includes revenues earned by entities from space weather forecasts and warnings, radiofrequency interference notifications, disposal/end-of-life-support, tracking space debris, re-entry predictions, orbit determination, launch and early orbit phase, on-orbit conjunction assessment, mission support & navigation, de-orbit support, breakups and separations, space object identification and launch detection.The market value includes the value of related goods sold by the service provider or included within the service offering.
The space situational awareness market also includes sales of radar sensors, telescopes, satellites, orbit determination tool kits, comspoc, space data center, space event generators, and joint space operations centers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Space situational awareness refers to tracking objects in space, including their identification, orbit determination, awareness of the environment they are working in, and prediction of future positions and potential dangers. It is used to forecast object collisions and warn space operators of potentially hazardous close approaches in order to enable collision avoidance operations.
North America was the largest region in the space situational awareness market in 2022.North America is expected to be the fastest growing region in the forecast period.
The regions covered in the space situational awareness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major solutions in space situational awareness are service, payload systems, and software.The service refers to the characterization of space objects to ascertain their orbital trajectory, size, shape, mass, composition, rotational dynamics, and other parameters.
The different capabilities include detect, track, and identify (d/t/id), threat warning, and assessment and characterization.The major objects include mission-related debris, rocket bodies, fragmentation debris, functional spacecraft, non-functional spacecraft, and others.
The main orbital ranges are near-earth and deep space. Commercial, government, and military are the major end users.
Increasing demand for space-based sensing activities propels the growth of the space situational awareness market going forward.The space-based sensing activities refer to the remote sensing technology that profiles the earth’s atmosphere and ionosphere with high vertical resolution and global coverage using GNSS (such as GPS) readings acquired by low-Earth orbiting satellites.
The majority of governments employ space situational awareness to plan their space activities because it makes it possible to predict the orbital paths of cataloged objects and trash.For instance, in May 2021, according to the data published by EUROCONTROL, a Belgium-based organization for the safety of air navigation, Aireon’s space-based ADS-B system was integrated into NM’s Enhanced Traffic Flow Management System (ETFMS), which enabled real-time air traffic surveillance data monitoring and improved traffic predictability by 20%.
Furthermore, in September 2021, HawkEye 360, a US-based geospatial analytics company, launched 3 satellites into orbit for the analysis of RF geospatial intelligence. Therefore, increasing demand for space-based sensing activities is driving the growth of the space situational awareness market.
Technological advancement has been an emerging trend gaining popularity in the space situational awareness market.Major companies operating in the space situational awareness sector are focused on technological advancement to sustain their position in the market.
For instance, in April 2022, Fujitsu, a Japan-based information and communications technology equipment and services company, introduced new technology for mapping and analyzing space debris.This technology consists of an SSA (Space Situational Awareness System) system along with radar and an optical telescope.
The new radar from JAXA (Japan Aerospace Exploration Agency), integrated with technology, is intended to observe roughly 10,000 objects each day and can also detect tiny things. This technology enables operators to automatically determine the likelihood of a predicted collision and make the required route adjustments to reduce hazards and prevent any potential collisions with space junk.
In October 2020, Ansys, a US-based engineering simulation software company, acquired Analytical Graphics Inc. (AGI) for a deal amount of $ 722.5 million. Ansys expanded its simulation portfolio by incorporating AGI’s space situational awareness tools and enabling its customers to stimulate the space mission from the chip level up to the satellite’s orbital mechanics and connectivity to ground stations. Analytical Graphics Inc. is a US-based defense and space manufacturing company engaged in space situational awareness capabilities.
The countries covered in the space situational awareness market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The space situational awareness market research report is one of a series of new reports that provides space situational awareness market statistics, including space situational awareness industry global market size, regional shares, competitors with space situational awareness market share, detailed space situational awareness market segments, market trends, and opportunities, and any further data you may need to thrive in the space situational awareness industry. This space situational awareness market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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