Rising Partnership Among Countries to Provide Growth Opportunities for Space Situational Awareness (SSA) Market During 2022–2028
According to our latest study on "Space Situational Awareness (SSA) Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Offering, Object, End User, and Orbit Range," the market was valued at US$ 1,535.91 million in 2022 and is expected to reach US$ 2,178.89 million by 2028; it is anticipated to register a CAGR of 6.0% from 2022 to 2028.
Space situational awareness (SSA) is a vital component of space domain awareness (SDA) that assists decision-makers in understanding current and predicted operational environments. SSA tracks and identifies objects that help determine their orbits, understand their functional environment, and forecast future positions and challenges to their operations. Also, SSA assists in estimating debris from meteor storms, fragmentation events, or other potential natural events that may affect space operations. SSA is a foundation for all space traffic management (STM) and space safety activities. Therefore, all these benefits of SSA propel its penetration.
Space Situational Awareness (SSA) Market — by Region, 2022
Space Situational Awareness (SSA) Market Forecast to 2028 - 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)
Space Situational Awareness (SSA) Market Size Report - Global Trends and Forecasts 2028
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Source: The Insight Partners Analysis
The space situational awareness (SSA) market growth is driven by countries with prominent space exploration organizations, rising investments in space research, and new types of space operations generating new threats for maintaining precise information on space object orbits. The US, Russia, China, the UK, Japan, and France are a few major countries operating a large number of satellites in the space.
The rapid rise in space launches necessitates the adoption of space situational awareness (SSA) solutions and services. SSA can be termed as the tracking, understanding, and classification of space objects and their functional environment. SSA provides the decision-makers with Space Domain Awareness (SDA), which is the ability to understand current and predicted working environments, and thus is the key to all space safety and space traffic management (STM) activities. SSA tracks objects in space, identifies them, establishes their orbits, gathers intelligence on the environment they are operating in and predicts their future positions, as well as threats that might be arising to their operations. The data can indicate conjunctions between objects and warn space operators to enable collision avoidance maneuvers for potentially dangerous close approaches.
Geographically, the space situational awareness (SSA) market is segmented into four key regions: North America, Europe, Asia Pacific, and Rest of the World. North America accounted for a larger space situational awareness (SSA) market share in 2022, followed by Europe and Asia Pacific. Asia Pacific is projected to be the fastest-growing region, with a CAGR of 7.5% from 2022 to 2028.
SSA software and service providers, regulator bodies, and end users are major stakeholders in the global space situational awareness (SSA) market ecosystem. The SSA software providers provide conjunction analysis tools and software that can give precise and highly reliable information on orbit determination. The tool also provides information on detecting and assessing possible collisions in orbit by tracking space objects, evaluating degree of risk, and characterizing their maneuvers. L3harris Technologies; Lockheed Martin Corporation; Telespazio; Parsons Corporation; and Kratos Defense and Security Solutions, Inc. are a few major space situational awareness (SSA) market players operating across the world.
Based on offering, the space situational awareness (SSA) market 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. Based on end user, the space situational awareness (SSA) market is bifurcated into commercial and government & military. In terms of orbit range, the space situational awareness (SSA) market is divided 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 a few key space situational awareness (SSA) market players profiled during this market study. Several other essential market players were also studied and analyzed to get a holistic view of the global space situational awareness (SSA) market and its ecosystem.
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