The space object that is human-made or no longer in usage, and is revolving in the Earth's orbit is called as space debris, such as out of mission spacecraft, different parts, launch vehicles, and released objects or tools lost by astronauts during space missions. The space debris, regardless of its size, revolves in the Earth's orbit and exist from 160 to 36,000 km above the Earth's surface. Manufacturers are trying to develop technologies to monitor or remove the space debris in order to protect other objects from the collision and to lessen the space pollution.
MARKET SCOPE
The "Global Space Debris Monitoring and Removal Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the space debris monitoring and removal market with detailed market segmentation by purpose, debris size, end use, and geography. The report provides key statistics on the market status of the leading Space Debris Monitoring and Removal market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of purpose, the market is segmented as space debris removal and space debris monitoring.
- On the basis of debris size, the market is segmented as larger than 10 cm, between 1 and 10 cm, and between 1 mm.
- On basis of end use, the market is segmented as commercial and defense.
MARKET DYNAMICS
Drivers:
- The increase in the number of satellites and rising awareness about space pollution are some of the significant factors driving the growth of the space debris monitoring and removal market.
- The increase in space debris monitoring activities by space exploration agencies is the major factor which is anticipated to generate several opportunities for the space debris monitoring and removal market.
Restraints:
- High costs associated with R&D and the absence of required infrastructure in developing economies are some of the major factors restraining the growth of the space debris monitoring and removal market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Space debris monitoring and removal market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Space debris monitoring and removal market in these regions
IMPACT OF COVID-19 ON SPACE DEBRIS MONITORING AND REMOVAL MARKET
The COVID-19 pandemic has severely impacted the space programs carried out by public companies. This has created an opportunity for private players in the space debris monitoring and removal market. The private players have an opportunity to invest in R&D and innovation in the space debris monitoring activities. According to the market experts, the space debris monitoring and removal market is expected to grow in the forecast period.
MARKET PLAYERS
The report covers key developments in the Space debris monitoring and removal market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Space debris monitoring and removal market are anticipated to lucrative growth opportunities in the future with the rising demand for Space debris monitoring and removal in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Space debris monitoring and removal market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Airbus S.A.S.
- Boeing
- Astroscale
- BAE Systems
- D-Orbit SpA
- Electro Optic Systems Pty Ltd
- Lockheed Martin Corporation
- Northrop Grumman
- Surrey Satellite Technology Limited
- Raytheon Technologies Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.