CAMBRIDGE, Mass., Feb. 15, 2022 (GLOBE NEWSWIRE) -- In its 5th year, NSR’s first to market In-Orbit Services: Satellite Servicing, ADR, and SSA, 5th Edition (IoSM5) forecasts $14.3 Billion in IoSM revenue, driven by Life Extension, generating $4.7 Billion through 2031. As the race to launch Non-GEO Satellite Constellation grows, thousands of satellites are set to launch through the coming decade growing demand for IoS.
Over the next decade, NSR’s IoSM5 anticipates growth for all In-Orbit Service applications. The Space Situational Awareness (SSA) market, guided by the need to track assets, is expected to grow fast, and reach a $3.7 Billon opportunity. And Active Debris Removal will be the fastest-growing area, at 38% CAGR, driven by innovative technology and increasing demand for maintaining secure & sustainable orbits for satellite constellations.
However, while the addressable market is large, with current low technology readiness and most IoS missions slated for mid to long-term launch dates, a slow start is expected for this market. This timing uncertainty means service providers are still trying to find their pace.
“As most sector technologies develop in silos, all applications under the In-Orbit Services umbrella are experiencing deployment challenges,” notes report Co-author Hussain Bokhari. “Growing innovation throughout the market reflects positively on Governments’ support for IoS; however, the challenge remains – ‘How do we effectively commercialize and address market and technology problems to establish a robust, and long-term low-cost solution’.”
Demand for flexibility drives development, but technology demonstrations currently dominate the market. As technology, policy, and demand further develop, IoS, ADR, and SSA will become key components in all satellite operator strategy.
“NSR identified tens of thousands of satellites that could benefit from in-orbit services, but market demand will only reach 4,000 satellites over the next decade,” states report Co-author Dallas Kasaboski. “This disconnect, amidst more recent announcements for many more constellations, demonstrate concern over orbital sustainability, and will be key for IoS adoption in the next decade.”
About the Report
The Original and Longest Standing report on the sector, NSR’s In-Orbit Services: Satellite Servicing, ADR, and SSA, 5th Edition (IoSM5) report is the industry resource for this emerging market opportunity. Forecasting opportunity for serving satellites, and the corresponding revenue generation from in-orbit, space situational awareness, and active debris removal services, IoSM5 offers comprehensive assessment of IoS application developments. The report details trends, challenges, and opportunity enablers for this rapidly expanding market.
For additional information on this report, including a full table of contents, list of exhibits and executive summary, please visit www.nsr.com or call NSR at +1-617-674-7743.
Companies Mentioned in NSR’s IoSM5
Airbus, AGI, Altius Space Machines, Astroscale, Atomos Space, AXA XL, Boeing, Centre Nationale d’Études Spatiales (CNES), Chandah Space Technologies, Corporation Numerica, Cognitive Space, Clearspace, CisLunar Industries, DARPA, Digantara, DLR, D-Orbit SpA, European Space Agency (ESA), Exoanalytic Solutions, Exotrail, Exolaunch, Firefly Aerospace, Honeybee Robotics Spacecraft Mechanisms Corporation, High Earth Orbit Robotics, Infinite Orbits, Intelsat, JAXA, Kratos Defense & Security Solutions, Kayhan Space, Launcher, L3 Applied Defense Solutions, LeoLabs, Lockheed Martin, Launcher, MDA, Momentus Space, Maxar Technologies, NASA, Northrop Grumman, Northstar Earth & Space, National Geospatial-Intelligence Agency, Olis Robotics, OneWeb, Orbit Fab, Okapi, Orbital Insight, Parsons, Polaris Alpha, porkchop AB, Privateer Inc., Redwire Inc., Relativity, Rocket Factory Ausburg, Rhea Space Activity, Surrey Satellite Technologies Limited, SES, Slingshot Aerospace, Space Machines Company, SpaceForge, Space Development Agency (SDA), Space Logistics, Space Forge, Starship Space, Skyroot Aerospace, SKY Perfect JSAT, Skyrora, Telespazio, Telenor, Tethers Unlimited, Thales Alenia Space, U.S. Air Force Research Lab, U.S. Space Force, UKSA, Varda Space Industries, Vision Engineering Solutions, and Xplore Inc.
About NSR
NSR is the leading global market research and consulting firm focused on the satellite and space sectors, NSR’s global team, unparalleled coverage, and anticipation of trends with a high degree of confidence and precision than the competition is the cornerstone of all NSR offerings. First to market coverage and a transparent, dependable approach sets NSR apart as the key provider of critical insight to the satellite and space industries.
Contact us at info@nsr.com to discuss how we can assist your business.
All Press and Interview inquiries contact Press@NSR.com
Press Contact:
Kristen Kloster-Grady
VP, Marketing - NSR
KKloster@NSR.com
Press@NSR.com
