DUBLIN--(BUSINESS WIRE)--The "Space Situational Awareness Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Offering, By Object, By End Use, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global space situational awareness market is anticipated to register a steady CAGR in the forecast period, 2023-2027. Factors such as the rise in the focus of government authorities on space situational awareness and the surge in congestion of objects in space are the primary factors driving the demand for the global space situational awareness market. Also, an increase in demand for LEO-based services and space-based sensing services is expected to propel the global space situational awareness industry growth over the next five years.
Increased Demand for LEO-based Services Drives the Market Growth
LEO-based services include services that can capture the images of earth, broadband services, space situational awareness services, and on-orbit services, and these services are witnessing massive demand from all over the globe. Also, the growing popularity of compact or small satellites is owing to their low cost of production and launching costs and brief time spent in the manufacturing process. Small satellites do not require any launch vehicles, and multiple small satellites can be launched at the same time. The expected roll-out of 5G technology and the increased adoption of advanced technologies like augmented reality, virtual reality, extended reality, internet of things, and artificial intelligence, amongst others, is boosting the development of the communication sector across the globe.
Small satellites can be used to provide high-speed internet services and for monitoring and surveillance activities by the defense sector. With the continuous advancements in small satellite technology, the number of small satellites being deployed in the lower earth orbits is expected to increase in the coming years. The rise in the demand for LEO-based services, especially for earth observation imagery, is increasing the deployment and assembly time of small satellites with large apertures. Therefore, the growing demand for LEO-based services is expected to propel the demand for space situational awareness services in the forecast period to monitor and track the position and route of the small satellites moving in space.
Growing Importance of Space-based Sensing Activities Supports the Market Demand
The demand for space situational awareness services from the government and commercial sectors is making the market players invest in research and development activities. Space-based sensing activities such as weather monitoring, remote sensing, automatic dependent surveillance-broadcast (ADS-B), RF mapping, GPS-radio occultation (GPS-RO) remote sensing activities for use in space, maritime and aeronautics industry is expected to fuel the market demand. Small satellites are majorly used for space situational applications. Therefore, the rise in the use of space-based sensing activities to monitor the satellites and payloads and collect situational awareness about space is expected to boost the global space situational awareness market growth over the next five years.
In this report, global space situational awareness market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Space Situational Awareness Market, By Offering:
Space Situational Awareness Market, By Object:
- Mission Related Debris
- Rocket Bodies
- Fragmentation Debris
- Non-Functional Spacecraft
- Functional Spacecraft
Space Situational Awareness Market, By End Use:
- Government & Military
Space Situational Awareness Market, By Region:
- North America
- United States
- South Korea
- Europe & CIS
- United Kingdom
- South America
- Middle East & Africa
- Saudi Arabia
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Space Situational Awareness Market
5. Global Space Situational Awareness Market Outlook
6. North America Space Situational Awareness Market Outlook
7. Asia Pacific Space Situational Awareness Market Outlook
8. Europe & CIS Space Situational Awareness Market Outlook
9. South America Space Situational Awareness Market Outlook
10. Middle East and Africa Space Situational Awareness Market Outlook
11. Market Dynamics
12. Market Trends and Developments
13. Competitive Landscape
14. Strategic Recommendations
- Lockheed Martin Corporation
- L3harris Technologies
- Kratos Defense & Security Solutions, Inc.
- Parsons Corporation
- Exoanalytic Solutions
- Schafer Corporation
- Northstar Earth & Space Inc.
- Elecnor Deimos Group
- Applied Defense Solutions
For more information about this report visit https://www.researchandmarkets.com/r/jej1gg
Laura Wood, Senior Press Manager
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