According to our latest study on "Space Situational Awareness (SSA) Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Offering, Object, End User, and Orbit Range," the market was valued at US$ 1,535.91 million in 2022 and is expected to reach US$ 2,178.89 million by 2028; it is anticipated to register a CAGR of 6.0% from 2022 to 2028.
A number of objects such as probes, satellites, crewed spacecraft, landers, and space station flight elements are launched into Earth's orbit and beyond for interplanetary exploration missions to gain further understanding of the cosmos. As per United Nations Office for Outer Space Affairs (UNOOSA), 2,163 objects were launched into space in 2022, while in 2021 and 2020, a total of 1,810 and 1,274 objects, respectively, were launched. The number of space rocket launches, primarily for deploying satellites in space, is also rising rapidly. In 2021, there were 136 successful rocket launches, whereas in 2022, the number rose to 180. In the first half of 2022, US-based companies launched 37 rockets, of which 27 were by SpaceX, 4 by RocketLab, 3 by United Launch Alliance, and 1 by Astra, Northrop Grumman, and Virgin Orbit. China, Russia, and India launched 21, 9, and 2 rockets, respectively, in the first half of 2022. Such factors have been driving the space situational awareness (SSA) market growth.
The SSA solutions are utilized for anticipating debris creation from fragmentation events, meteor storms, or other natural events, and suggest a reaction to ensure unhindered operations. Thus, various government agencies and private space companies have increasingly adopted SSA. In April 2021, Lockheed Martin announced that German Space Agency at DLR (Deutsches Zentrum für Luft- und Raumfahrt/German Aerospace Center) adopted its iSpace command and control system for tasking German sensors to support monitoring of high-interest objects and space events.
Based on offering, the space situational awareness (SSA) market is bifurcated into software and service. By object, the space situational awareness (SSA) market is segmented into mission-related debris, rocket bodies, fragmentation debris, functional spacecraft, and nonfunctional spacecraft. Based on end user, the space situational awareness (SSA) market is categorized into commercial and government & military. In terms of orbit range, the space situational awareness (SSA) market is divided into deep space and near earth.
Key Findings of Market Study:
The regulatory bodies are one of the major stakeholders in the ecosystem of space situational awareness (SSA) market. Under domestic and international laws, several conditions of license approval, liability, and safety are applicable. The law includes plans that must be formed keeping the specific space activities of applicant in mind and fulfilling minimal content requirements described by the Space (Launches and Returns) (General) Rules 2019 (AUS). The operators are obliged to set out and define all ‘appropriate measures’ they aim to execute to ensure debris caused by their actions is dealt with in compliance with the international debris mitigation guidelines and the assessment models. The Space Situational Awareness Transition Act of 2022 is introduced in the US. Under this act, a civil SSA capability within the Department of Commerce is established to assist space sustainability and spaceflight safety. The bill also aids the National Aeronautics and Space Administration R&D activities for enhancing space situational awareness. Such laws and acts assist in regulating the SSA easily. The end users are the last and crucial stakeholders in the space situational awareness (SSA) market. Commercial and government & military are major end users that are propelling the space situational awareness (SSA) market size worldwide.
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