Space Situational Awareness Market To Surpass USD 2.8 Billion By 2034, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Space Situational Awareness industry size is expected to register 5.1% CAGR between 2025 and 2034 propelled by rising satellite constellations drive SSA market growth.

Selbyville, Delaware , Jan. 20, 2025 (GLOBE NEWSWIRE) -- Space Situational Awareness Market was valued at USD 1.7 billion in 2024 and is projected to be worth USD 2.8 billion by the end of 2034, as per a recent study by Global Market Insights Inc.

The rapid increase in satellite constellations, essential for communication, broadband, Earth observation, and navigation, is a key factor driving SSA market expansion. This satellite proliferation, particularly in low Earth orbit (LEO), has created a congested orbital environment, presenting complex challenges in space traffic management, satellite tracking, and collision prevention. SSA technologies are critical to enabling real-time tracking, predicting orbital paths, and ensuring collision avoidance, ultimately safeguarding satellite assets in an increasingly crowded space.

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While the space situational awareness market shows promise, certain constraints, including technological challenges and limited access to space data, pose growth hurdles. Nevertheless, opportunities are abundant, as the escalating deployment of satellites and rising concerns over space debris push the demand for innovative SSA solutions. In addition, governments worldwide are increasingly focused on evolving regulatory frameworks and promoting public-private partnerships to support space traffic coordination and debris management, further driving SSA technology advancements.

The space situational awareness market can be segmented by offerings into services and solutions/software. In 2024, the services segment dominated with a 64% share. SSA services are focused on key areas like satellite tracking, collision avoidance, and debris monitoring, offering real-time insights and data analytics that enhance space safety. These services are invaluable for commercial and governmental organizations, providing crucial data for mitigating risks associated with debris, satellite anomalies, and potential in-orbit collisions.

In terms of orbital range, the space situational awareness market includes near-Earth and deep-space segments. The deep-space segment, projected to grow at a CAGR of 6.7%, concentrates on tracking and monitoring objects beyond Earth's immediate orbit, which includes interplanetary missions and space probes. This segment necessitates highly advanced tracking systems capable of detecting distant objects and safeguarding spacecraft from possible collisions with asteroids or other celestial bodies. Due to the extensive distances and limited communication windows in deep space, unique and sophisticated tracking technologies are required.

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North America is expected to lead the space situational awareness market, with its market size projected to surpass USD 800 million by 2034, driven predominantly by U.S. advancements. This regional dominance is supported by substantial government investments and state-of-the-art technologies. The U.S. prioritizes SSA initiatives for national security, with strong backing from agencies and defense contractors that foster rapid innovation. With the increasing role of the private sector, North America is set to remain at the forefront of SSA market growth, bolstered by defense priorities and technological progress.

Space Situational Awareness Market Players

Companies including Airbus Defence and Space, Applied Defense Solutions (ADS), BAE Systems, Elecnor Deimos Group, Etamax Space, ExoAnalytic Solutions, Globvision, GMV Innovating Solutions, Harris Geospatial Solutions, Kratos Defense & Security Solutions, L3Harris Technologies, Lockheed Martin, Northrop Grumman, Northstar Earth & Space Inc, Parson Corporation, Peraton, Raytheon Technologies, Schafer Corporation, SpaceNav, Telespazio S.P.A, The Aerospace Corporation, Vision Engineering Solutions, LLC are some firms working in space situational awareness industry.

This space situational awareness market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2021 to 2034, for the following segments:

Market, By Offering

• Services
• Solutions/Software

Market, By Orbital Range

• Near to earth
• Deep space

Market, By Object

• Mission related debris
• Rocket bodies
• Fragmentation debris
• Functional spacecraft
• Non-functional spacecraft

Market, By End Use

• Commercial
• Government and military
• Research and academic institutions

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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