Dublin, Aug. 01, 2024 (GLOBE NEWSWIRE) -- The "Space Situational Awareness (SSA) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Space Situational Awareness (SSA) is estimated at US$1.3 Billion in 2023 and is projected to reach US$1.9 Billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the SSA market is driven by several factors, including the escalating deployment of commercial satellite constellations, increased government spending on space defense and security, and international efforts towards sustainable space management. As companies like SpaceX and OneWeb deploy large numbers of satellites, there is a critical need for enhanced SSA systems to track and manage these assets effectively. Additionally, geopolitical dynamics prompt countries to invest in SSA to safeguard their space assets from potential threats and ensure their strategic interests are protected.
Technological innovations that improve the accuracy, speed, and cost-efficiency of SSA systems also fuel market growth, making it feasible to track an ever-increasing number of small and micro-satellites. Furthermore, the growing awareness of space debris issues and the need for active debris removal operations require advanced SSA to identify and mitigate potential collision risks, ensuring long-term sustainability of space activities. These drivers underscore the expanding scope and importance of SSA in facilitating safe and responsible use of outer space.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Space Situational Awareness (SSA) Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Space Situational Awareness (SSA) Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the SSA Services segment, which is expected to reach US$1.3 Billion by 2030 with a CAGR of a 4.9%. The SSA Software segment is also set to grow at 4.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $596.3 Million in 2023, and China, forecasted to grow at an impressive 6.5% CAGR to reach $172.5 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Northrop Grumman Corporation, Lockheed Martin Corporation, BAE Systems PLC, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 398 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.3 Billion |
| Forecasted Market Value (USD) by 2030 | $1.9 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- An Introduction to Space Situational Awareness (SSA): Watchful Eye to Monitor & Observe Eventful Near-Earth Environment
- Main Target Objects: Man-Made Debris
- Select SSA Organizations & Programs
- Increasingly Crowded Space Shines Cosmic Light on Space Situational Awareness Market
- SSA Emerges as Critical Component of Space Deterrence & National Security Regime
- Increasing Space Activity & Focus on National Security to Impel Global Space Situational Awareness Market
- Recent Market Activity
- Rising Adoption of SSA Unlikely to Offer Incentives for Further Development of Evasion Detection & Destruction Techniques
- SSA Capabilities Present Hard Nut to Crack for Adversaries for Strategic Use
- Market Analysis by Object: Increasing Space Congestion Makes Fragmentation Debris Segment to Post Fastest Growth
- World Space Situational Awareness Market by Object (2020 & 2027): Percentage Breakdown of Revenues for Fragmentation Debris, Non-Functional Spacecrafts, Rocket Bodies, Functional Spacecrafts, and Other Objects
- End-Use Market Analysis
- World Space Situational Awareness Market by End-Use (2020 & 2027): Percentage Breakdown of Revenues for Government & Military, and Commercial
- Regional Analysis - North America Commands Major Share
- World Space Situational Awareness Market (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
- World Space Situational Awareness Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Rest of World, USA, Europe, Canada, and Japan
- US Assigns Department of Commerce with Task of Civil Space Situational Awareness
- Space Situational Awareness (SSA) Program: A Landmark Initiative of European Space Agency
- Space Situational Awareness (SSA) - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- New Satellite Launches and Rising Space Activities Flare Up Demand
- Increased Emphasis on Enhancing National Security
- Rise in Partnership among Countries for SSA
- Growing Menace of Space Debris Calls for Improved SSA Capabilities
- Proliferation of Small Satellites Elevates Demand
- Select Conventional Satellites Vs. Small Satellites: A Comparative Analysis
- Surging Demand for Space-Based Sensing Bodes Well
- Global Satellite Services Market (2024): Percentage Share Breakdown of Revenues by Service Type
- Blockchain Enabled Space Traffic Awareness
- Evolving Role of LEO Satellite Services
- Increasing Use of Space-based Infrastructure
- Increasing Involvement of Private Players in the Global Space Industry
- Market Remains Buoyant over Scope of On-Orbit Servicing
- Technology Advancements to Fuel Market Growth
- Restraints and Challenges
- Lack of Unified Standards
- Issues in Micro-Sized Debris Detection
- Technological Glitches
FOCUS ON SELECT PLAYERS (Total 40 Featured)
- Northrop Grumman Corporation
- Lockheed Martin Corporation
- BAE Systems PLC
- Elbit Systems Ltd.
- European Space Agency
- Kratos Defense & Security Solutions, Inc.
- L3Harris Technologies, Inc.
- Airbus Group SE
- Airbus Helicopters, Inc.
- GMV Innovating Solutions SL
- Leidos Holdings, Inc.
- Electro Optic Systems Pty Ltd.
- Kx Systems
- High Earth Orbit Robotics
- Committee for Aviation and Space Industry Development (CASID)
For more information about this report visit https://www.researchandmarkets.com/r/fg1y6z
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