Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Space Situational Awareness Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The comprehensive analysis of the Space Situational Awareness (SSA) global market research reveals significant growth and current trends shaping the industry's future. This report sheds light on the soaring demand for SSA solutions that correspond with the escalating space activities and the critical necessity for effective space debris monitoring.
Providing an unparalleled depth of insight, the report unveils data on market dynamics, including size, share, growth factors, and major driving forces. The increase from $1.41 billion in 2023 to an anticipated $1.53 billion in 2024 indicates the market's resilience and progressive climb at a compound annual growth rate (CAGR) of 8.1%.
Highlighted within the publication are the significant components contributing to the market’s expansion. Among these factors, the growing emphasis on space domain awareness by various stakeholders – commercial entities, government agencies, and military organizations – affirm the critical role of SSA.
Key findings of the report indicate:
- An anticipated growth surge to $2.08 billion by 2028, progressing at a steady CAGR of 8.0%.
- Technological advancement in SSA services, emphasizing enhanced monitoring of space debris and advancements in space traffic management.
- Innovations in market offerings, such as space logistics command suites, for optimized management of resources and mission coordination.
- Strategic market expansions through acquisitions, citing the recent acquisition of SatixFy Space Systems UK Ltd by MDA Ltd.
The research underscores North America's current stance as the dominant region in the SSA landscape, expecting continued acceleration in growth during the forecast period. However, comprehensive data on other regional markets, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa, is also part of this detailed analysis.
Technological Innovations Spark Enthusiasm in the Space Situational Awareness Sector
Key market players, as revealed in the report, are actively engaging in technological development to solidify their stature within the competitive SSA market. Innovations such as Fujitsu's new SSA technology and Northrop Grumman Corporation's command suite are just a glimpse of the progress within the industry.
With a reflective look at the competitive landscape, the report indexes a non-exhaustive list of major companies contributing to the market, including Lockheed Martin Corporation, L3Harris Technologies, and Honeywell International Inc. These entities are at the forefront of addressing the critical needs of SSA services and technologies.
The vast accumulation of market-related data encapsulates revenue streams from various service offerings and technologically advanced products, delivering a 'factory gate' value perspective for stakeholders to consider.
A selection of companies mentioned in this report includes
- Lockheed Martin Corporation
- Kratos Defense & Security Solutions Inc.
- Polaris Alpha Advanced Systems Inc.
- Applied Defense Solutions
- Schafer Industries
- L3harris Technologies
- General Dynamics Corporation
- Vision Engineering Solutions
- Norstar Space Data
- SpaceNav LLC
- Elecnor Deimos Group
- ExoAnalytic Solutions Inc.
- Honeywell International Inc.
- DRS Technologies.
- BAE Systems
- Northrop Grumman Corporation
- RTX Corporation
- Thales Group
- ATOS SE
- Elbit Systems Ltd.
- Leonardo S.p.A.
- Rheinmetall AG
- Airbus SE
- Boeing Co.
- Pratt & Whitney
- Rolls-Royce Holdings plc
- GE Aviation
- Safran S.A.
- Israel Aerospace Industries
- Spirit AeroSystems Inc.
- Triumph Group Inc.
- United Technologies Corporation
- International Business Machines Corporation
- Microsoft Corporation
- Amazon Web Services Inc.
- Google LLC
- Oracle Corporation
- Cisco Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/sj4p6k
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