New York, NY, July 16, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Space Situational Awareness (SSA) Market by Object (Non-Functional Spacecraft, Functional Spacecraft, Mission Related Debris, Fragmentation Debris, and Rocket Bodies), by Offering (Services and Software), by Application (Space Weather, Space Surveillance and Tracking, Near Earth Objects, and Others), and by End-User (Government & Military and Commercial): Global industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027”. According to the report, the global space situational awareness (SSA) market was USD 1,009 million in 2018 and is expected to reach approximately USD 1,495 million by 2027, at a CAGR of slightly above 4.6% between 2019 and 2027.
Space situational awareness (SSA) is the complete knowledge or overview of near-space environments. Both natural (stars) and manmade components (satellites) are considered during an SSA analysis. Space safety and space traffic management programs include services that are specially designed for assisting satellite operators in the prevention of operational or physical conflicts. Space situational awareness (SSA) market growth has seen a phenomenal expansion in recent years. This is mainly due to rising government investments in the space sector, which is forecast to result in creating benefitting market opportunities in the upcoming years.
Browse through 71 Tables & 30 Figures spread over 215 Pages and in-depth TOC on “Global Space Situational Awareness (SSA) Market: By Type, Applications, Industry Size, Share, Analysis and Forecast, 2018–2027”.
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The global space situational awareness (SSA) market is fragmented on the basis of an object, offering, application, and end-user. Object segment is majorly classified into non-functional, functional spacecraft, mission-related debris, fragmentation debris, and rocket bodies. The fragmentation debris segment is anticipated to register the highest CAGR over the forecast timeframe. Fragmentation debris is basically fragmented space objects that are accidentally released and are the largest debris source in space. Such debris comprises millions of unwanted man-made objects orbiting around the earth, which is formed of anomalous event debris and satellite breakup debris. Mission-related debris is observed to hold a notable market share in the future, owing to the rising space congestion due to fragmentation debris and corresponding threats. Mission-related debris mainly includes debris generated from all objects dispensed as a part of planned missions. Some common mission-related objects are caps, covers, and adapters. The offering segment includes services and software.
The application segment of the global space situational awareness (SSA) market includes space weather, space surveillance and tracking, near earth objects, and others. The space surveillance segment accounted for the largest market share in 2018 and is anticipated to dominate in the years ahead. Space surveillance and tracking (SST) includes observation of active and inactive satellites, fragmentation debris, and a discarded launcher stage that revolves around Earth. According to the space surveillance network catalog documented by the U.S., in the last 60 years of space activities, there were more than 5,251 launches. Nearly 42,000 space objects have been tracked in orbit, out of which over 23,000 still exist in space and are regularly tracked. By end-user, the market is majorly classified into government and military and commercial.
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By region, North America dominated the global space situational awareness (SSA) market in 2018 and is expected to hold the largest share in the years ahead. This can be attributed to the U.S. being the corporate headquarters of some leading market players, such as Analytical Graphics, ExoAnalytic Solutions, GRYPHON SCHAFER, and Vision Engineering Solutions. The U.S. accounted for the largest market share in this region. The regional demand for SSA is forecasted to register the highest CAGR in Canada, owing to the rising number of space activities like space farming. Canadians are well known for unique farming techniques and have revolutionized agriculture methodology by establishing greenhouses in space by utilizing hydroponics.
Europe is projected to show the highest market demand and accounted for a substantial market share in 2018 globally. The region‘s space situational awareness (SSA) program was initiated by the European Space Agency (ESA) with the motive to support the region's independent space access. In Europe, space-based systems have become the most crucial aspect of government functions and the economy. This dependency is likely to increase significantly in the future. Any harm to such services, such as shut down or collisions, will adversely affect the diversified range of civil and commercial activities like maritime, climate monitoring, weather forecasting, telecommunications, commercial sea, air, and land travel. Thus, to prevent such losses, ESA is extensively investing in SSA solutions, which will fuel the space situational awareness (SSA) market in the future.
Browse the full “Space Situational Awareness (SSA) Market by Object (Non-Functional Spacecraft, Functional Spacecraft, Mission Related Debris, Fragmentation Debris, and Rocket Bodies), by Offering (Services and Software), by Application (Space Weather, Space Surveillance and Tracking, Near Earth Objects, and Others), and by End-User (Government & Military and Commercial): Global industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027” Report at https://www.zionmarketresearch.com/report/space-situational-awareness-market
The Asia Pacific space situational awareness (SSA) market is forecast to witness substantial growth, owing to the rising government initiatives in the space sector. India, Japan, and China are major market contributors in the region. Space sector of these Asian economies are in the top ten globally and draw the attention of many leading SSA providers. Currently, Japan is actively focused on SSA with the motive of protecting its assets from hazardous satellite collisions.
The Latin American space situational awareness (SSA) market is driven by the rising number of market-relevant regional collaborations across the region. Latin America is making various effective efforts and is extensively initiating co-operative space activities in collaboration with Africa. Union of South American Nations (UNASUR) have already discussed regarding the establishment of South American Space Agency, although it has not been created yet. Brazil is observed to be the prime contributor to this regional market.
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Countries in the Middle East and Africa are prioritizing the detection of space threats to their territories, such as space weather and asteroids. Moreover, some of the MEA countries are mainly focused on protecting their satellites. South Africa beholds significant market contribution, due to various market benefitting business activities. In the beginning of 2019, the South African National Space Agency (SANSA) partnered with German Aerospace Centre (DLR) to host space debris tracking station within the Optical Space Research (OSR) Laboratory.
Some key participants operating in the global space situational awareness (SSA) market are Analytical Graphics, Applied Defense Solutions, EOS, ESA-ESA/AOES Medialab, etamax space, ExoAnalytic Solutions, GlobVision, GMV, Gryphon Schafer, Harris Corporation, Kratos Defense and Security Solutions, NorStar Space Data, Polaris Alpha a Parsons Company, Safran, Schafer Corporation, Solers, SpaceNav, and Vision Engineering Solutions.
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This report segments the global space situational awareness (SSA) market into:
Space Situational Awareness (SSA) Market: Object Analysis
- Non-Functional Spacecraft
- Functional Spacecraft
- Mission Related Debris
- Fragmentation Debris
- Rocket Bodies
Space Situational Awareness (SSA) Market: Offering Analysis
- Services
- Software
Space Situational Awareness (SSA) Market: Application Analysis
- Space Weather
- Space Surveillance and Tracking
- Near Earth Objects
- Others
Space Situational Awareness (SSA) Market: End-User Analysis
- Government and Military
- Commercial
Space Situational Awareness (SSA) Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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