Global Space Situational Awareness (SSA) Strategic Business Report 2023: With Defense Budgets Coming Under Intense Pressure, SSA Market to Witness Challenging Times
DUBLIN, March 22, 2023 /PRNewswire/ — The “Space Situational Awareness (SSA): Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Space Situational Awareness (SSA) Market to Reach $1.7 Billion by 2030
The global market for Space Situational Awareness (SSA) estimated at US$1.2 Billion in the year 2022, is projected to reach a revised size of US$1.7 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2022-2030.
Services, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$1.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 4.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $574.2 Million, While China is Forecast to Grow at 6.4% CAGR
The Space Situational Awareness (SSA) market in the U.S. is estimated at US$574.2 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$172.5 Million by the year 2030 trailing a CAGR of 6.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 3.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
What`s New for 2023?
- Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
- With Defense Budgets Coming Under Intense Pressure, SSA Market to Witness Challenging Times
- An Introduction to Space Situational Awareness (SSA): Watchful Eye to Monitor & Observe Eventful Near-Earth Environment
- Main Target Objects: Man-Made Debris
- Select SSA Organizations & Programs
- Increasingly Crowded Space Shines Cosmic Light on Space Situational Awareness Market
- SSA Emerges as Critical Component of Space Deterrence & National Security Regime
- Increasing Space Activity & Focus on National Security to Impel Global Space Situational Awareness Market
- Recent Market Activity
- Rising Adoption of SSA Unlikely to Offer Incentives for Further Development of Evasion Detection & Destruction Techniques
- SSA Capabilities Present Hard Nut to Crack for Adversaries for Strategic Use
- Market Analysis by Offering
- Global Space Situational Awareness Services Market by Space Surveillance & Tracking, Space Weather Services, and Near Earth Object Detection Services
- Market Analysis by Object: Increasing Space Congestion Makes Fragmentation Debris Segment to Post Fastest Growth
- End-Use Market Analysis
- Regional Analysis – North America Commands Major Share
- US Assigns Department of Commerce with Task of Civil Space Situational Awareness
- Space Situational Awareness (SSA) Program: A Landmark Initiative of European Space Agency
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
MARKET TRENDS & DRIVERS
- New Satellite Launches and Rising Space Activities Flare Up Demand
- Increased Emphasis on Enhancing National Security
- Rise in Partnership among Countries for SSA
- Growing Menace of Space Debris Calls for Improved SSA Capabilities
- Proliferation of Small Satellites Elevates Demand
- Select Conventional Satellites Vs. Small Satellites: A Comparative Analysis
- Surging Demand for Space-Based Sensing Bodes Well
- Blockchain Enabled Space Traffic Awareness
- Evolving Role of LEO Satellite Services
- Increasing Use of Space-based Infrastructure
- Increasing Involvement of Private Players in the Global Space Industry
- Market Remains Buoyant over Scope of On-Orbit Servicing
- Technology Advancements to Fuel Market Growth
- Restraints and Challenges
- Lack of Unified Standards
- Issues in Micro-Sized Debris Detection
- Technological Glitches
FOCUS ON SELECT PLAYERS (Total 40 Featured)
- Analytical Graphics, Inc.
- Elecnor Deimos Group
- etamax space GmbH
- ExoAnalytic Solutions
- GlobVision Inc.
- GMV Innovating Solutions
- Kratos Defense & Security Solutions, Inc.
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- NorthStar Earth & Space Inc.
- Vision Engineering Solutions, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/4djk3e
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