Space Situational Awareness Market To Reach Approximately USD 1.6 Billion In 2027

Global Space Situational Awareness Market: Key Highlights

According to the new market research report “Space Situational Awareness Market by Offering (Software and Service) by Application (Space Weather Detection, Near Earth Objects Detection and Space Surveillance and Tracking) by End User (Government & Defense, Regulatory Agencies, Research and Space Agencies and Commercial Space Operators) by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast From 2020To 2027, the global space situational awareness market is estimated to reach around USD 1.6 Billion in 2027 at a CAGR of around 4.5% during forecast period 2020-2027
The market is expected to grow at a sustainable pace owing to rise in space activities coupled with the increasing focus towards strengthening national security

The growth of the market can be hampered owing to the limitation of the SSA in detecting minor space objects

Global Space Situational Awareness Market: Key Market Dynamics

The growth of the SSA market is projected to grow on the grounds of the rise in the space activities across the globe. Increasing satellite launches owing to ongoing globalization and increasing interest towards development of independent national space programs is driving the market growth
Increasing focus of the countries towards enhancing the national security through investment in the SSA activities, is further fueling the market growth
The growth of SSA market is negatively impacted due to limitation of the SSA to detect micro-debris in the space
Advancement in the SSA technology through emergence of the Blockchain technology with entry of the private companies in the SSA activities is acting as an opportunity for the market players

Global Space Situational Awareness Market: Regional Overview

North America

The North America SSA Market is projected to witness significant growth in the forecast period owing to presence of prominent space activities in the US. Increasing demand for the small satellite launches for observational purpose in the region is driving the market growth. For instance, the 20 companies out of 44, planning to launch constellation by 2025 are based in United States, which propels the demand for SSA. In addition to this, the US has higher space assets and therefor has a higher affinity to explore space related operations. This is expected to push the demand for SSA in the US.

Europe

Russia being one of the country with strong network of sensors with entire space catalog concentrating on the space and space related activities, is the major contributor to the SSA market. The International Scientific Optical Network (ISON) initiated by the Russia for near-Earth space monitoring, with the Keldysh Institute of Applied Mathematics (KIAM) doubled the number of observation facilities dedicated to the SSA. In addition to this, the Russia led ISON also keeps track of the catalog of the space objects using its established network. The aforementioned factors are projected to escalate the overall market growth in Europe.

Global Space Situational Awareness Market: Key Players Overview

Analytical Graphics, Inc.

Analytical Graphics, Inc. (AGI) is a US based company offers software solutions for the aerospace and defense sector. The company offers Systems Tool Kit (STK), Orbit Determination Tool Kit (ODTK), STK Astrogator, Maneuver Processing Tool (MPT), Space Event Generator (SEG) among others. AGI focuses on expansion of the product range through various strategic initiatives. For instance, in 2018, the company AGI signed an agreement with the Canadian defense company Thoth Technology for development of radio astronomy antenna for commercial SSA market.

ExoAnalytic Solutions, Inc.:

ExoAnalytic Solutions, Inc. is the California based company offering products and solutions to the aerospace sector across the globe. The company operates through three segments: space domain awareness, missile defense and modelling and simulation. In space domain awareness, the company offers services to cater the different space needs, through ExoAnalytic Global Telescope Network encompasses of more than 300 sensors.

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