Dublin, Feb. 21, 2025 (GLOBE NEWSWIRE) — The “Space Situational Awareness Market Opportunities and Strategies to 2034” report has been added to ResearchAndMarkets.com’s offering.
The global space situational awareness market reached a value of nearly $1.5 billion in 2024, having grown at a compound annual growth rate (CAGR) of 2.87% since 2019. The market is expected to grow from $1.5 billion in 2024 to $2.0 billion in 2029 at a rate of 5.94%. The market is then expected to grow at a CAGR of 5.32% from 2029 and reach $2.6 billion in 2034.
Market-trend-based strategies for the space situational awareness market include focus on developing space missions to enhance orbital debris tracking, improve collision avoidance capabilities and ensure the long-term sustainability of space operations, focus on developing advanced in-orbit cameras to enhance tracking of space debris, improve situational awareness and ensure safer and more efficient space operations, focus on adopting a strategic partnerships approach to enhance their technological capabilities and deliver more comprehensive solutions to address the growing challenges of monitoring and managing space traffic and focus on strategic investments to develop advanced technologies, strengthen their product portfolios and improve their ability.
Player-adopted strategies in the space situational awareness market include focus on product advancements for future growth, focus on enhancing its business operations through securing new contracts, focus on enhancing its geographical footprint across the globe through new launches, focus on enhancing its geographical footprint across the globe through strategic partnerships and focus on improving its portfolio and strengthening its business through new product developments.
Growth in the historic period resulted from the increasing amount of debris in space, expansion of low-earth orbit (LEO) satellite constellations and partnerships between international organizations to improve orbital safety. Factors that negatively affected growth in the historic period was economic uncertainties or downturns.
Going forward, the rising frequency of satellite launches and space missions, growth in space tourism, government policies and initiatives and increased spending on space monitoring by defense sectors will drive the growth. Factor that could hinder the growth of the space situational awareness market in the future include limited availability of data.
The global space situational awareness market is highly concentrated, with a small number of players dominating the market. The top ten competitors in the market made up 71.60% of the total market in 2023. Lockheed Martin Corporation was the largest competitor with a 14.64% share of the market, followed by L3Harris Technologies Inc. with 10.62%, Leonardo DRS Technologies Inc. with 9.92%, Kratos Defense & Security Solutions Inc. with 8.30%, Parsons Corporation with 5.96%, Northrop Grumman Corporation with 5.40%, BAE Systems plc with 5.36%, Ansys Inc. with 4.21%, Spire Global Inc. with 4.09% and Swedish Space Corporation with 3.09%.
The space situational awareness market is segmented by solution into service, payload systems and software. The service market was the largest segment of the space situational awareness market segmented by solution, accounting for 38.59% or $580.74 million of the total in 2024. Going forward, the payload systems segment is expected to be the fastest growing segment in the space situational awareness market segmented by solution, at a CAGR of 6.37% during 2024-2029.
The space situational awareness market is segmented by orbital range into near-Earth and deep space. The near-earth market was the largest segment of the space situational awareness market segmented by orbital range, accounting for 89.19% or $1.34 billion of the total in 2024. Going forward, the deep space segment is expected to be the fastest growing segment in the space situational awareness market segmented by orbital range, at a CAGR of 6.47% during 2024-2029.
The space situational awareness market is segmented by end use into commercial and government and military. The government and military market was the largest segment of the space situational awareness market segmented by end use, accounting for 61.12% or $919.87 million of the total in 2024. Going forward, the commercial segment is expected to be the fastest growing segment in the space situational awareness market segmented by end use, at a CAGR of 6.40% during 2024-2029.
The space situational awareness market is segmented by capability into detect, track and identify (D/T/Id), threat warning and assessment and characterization. The detect, track and identify (D/T/Id) market was the largest segment of the space situational awareness market segmented by capability, accounting for 53.40% or $803.58 million of the total in 2024. Going forward, the threat warning and assessment segment is expected to be the fastest growing segment in the space situational awareness market segmented by capability, at a CAGR of 6.95% during 2024-2029.
The space situational awareness market is segmented by object into mission-related debris, rocket bodies, fragmentation debris, functional spacecraft, non-functional spacecraft and other objects. The fragmentation debris market was the largest segment of the space situational awareness market segmented by object, accounting for 30.80% or $463.52 million of the total in 2024. Going forward, the fragmentation debris segment is expected to be the fastest growing segment in the space situational awareness market segmented by object, at a CAGR of 7.04% during 2024-2029.
North America was the largest region in the space situational awareness market, accounting for 41.70% or $627.52 million of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the space situational awareness market will be Asia Pacific and Middle East where growth will be at CAGRs of 7.27% and 6.99% respectively. These will be followed by South America and Africa where the markets are expected to grow at CAGRs of 6.77% and 6.08% respectively.
To take advantage of the opportunities, the analyst recommends the space situational awareness companies to focus on expanding space missions to enhance situational awareness, focus on advancing in-orbit camera technologies for enhanced SSA, focus on strategic investments to drive SSA market growth, focus on the payload systems segment for growth, focus on the deep space segment for growth, focus on the threat warning and assessment segment for growth, focus on the fragmentation debris segment for growth, expand in emerging markets, focus on strategic partnerships to enhance SSA capabilities, focus on competitive and value-based pricing strategies, focus on targeted marketing and industry partnerships, focus on digital channels for lead generation and focus on the commercial segment for growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 277 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $1.5 Billion |
| Forecasted Market Value (USD) by 2034 | $2.6 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Top Opportunities
- The top opportunities in the space situational awareness market segmented by solution will arise in the service segment, which will gain $195.95 million of global annual sales by 2029.
- The top opportunities in the space situational awareness market segmented by orbital range will arise in the near-Earth segment, which will gain $443.68 million of global annual sales by 2029.
- The top opportunities in the space situational awareness market segmented by end use will arise in the government and military segment, which will gain $290.64 million of global annual sales by 2029.
- The top opportunities in the space situational awareness market segmented by capability will arise in the detect, track, and identify (D/T/Id) segment, which will gain $271.48 million of global annual sales by 2029.
- The top opportunities in the space situational awareness market segmented by object will arise in the fragmentation debris segment, which will gain $187.79 million of global annual sales by 2029.
- The space situational awareness market size will gain the most in the USA at $157.37 million.
Major Market Trends
- Space Missions Driving Advancements in Space Situational Awareness (SSA) Technology
- Advancements in in-Orbit Camera Technology for Space Situational Awareness
- Strategic Partnerships in Space Situational Awareness
- Strategic Investments Accelerating Growth and Innovation in Space Situational Awareness (SSA)
Key Mergers and Acquisitions
- Exoanalytic Solutions Acquires 3S Northumbria to Strengthen SSA Capabilities
- MDA Ltd. Acquires Satixfy Space Systems UK for Enhanced Market Expansion
- Boecore’S Acquisition of Orbit Logic Expands Space Sector Capabilities
- Slingshot Aerospace Acquires Numerica’S Space Domain Awareness Division and Seradata
Markets Covered:
- Solution: Service; Payload Systems; Software
- Orbital Range: Near-Earth; Deep Space
- End-Use: Commercial; Government and Military
- Capability: Detect, Track and Identify (D/T/Id); Threat Warning and Assessment; Characterization
- Object: Mission-Related Debris; Rocket Bodies; Fragmentation Debris; Functional Spacecraft; Non-Functional Spacecraft; Other Objects
For more information about this report visit https://www.researchandmarkets.com/r/c67rn0
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- Space Situational Awareness Market
