The global Space Situational Awareness (SSA) Market is estimated to be valued at US$ 1.3 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Space Situational Awareness (SSA) includes space surveillance and tracking services. SSA helps provide crucial information about space objects and their trajectories to users such as satellite operators and governments. This helps enable sustainable activities in space and prevent satellite collisions.
Market key trends:
Space situational awareness enables identifying and tracking space debris or objects in orbit. Better data analytics related to space debris is one of the key trends in the space situational awareness market. Advanced data analytics helps provide deeper insights into debris detection, identification and trajectory predictions. It also helps assess collision risk and improve space traffic management with accurate real-time data on space objects.
Segment Analysis
Content: The global space situational awareness (SSA) market is segmented based on component, object type, end-use, and region. By component, the services segment is expected to dominate the market during the forecast period. The growing demand for orbital tracking, space surveillance and training services among commercial and government organizations is driving the growth of this segment.
Key Takeaways
The Global Space Situational Awareness (SSA) Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing demand for situational awareness of space objects to avoid collisions in space.
Regional analysis: North America is expected to dominate the global SSA market during the forecast period. This is attributed to significant investments by NASA and US Department of Defense in SSA programs. The large presence of key players and growing space debris in low earth orbit is further expected to drive the demand in the region.
Key players: Key players operating in the global space situational awareness (SSA) market are Lockheed Martin, Northrop Grumman, Analytical Graphics, ExoAnalytic Solutions, Schafer, Etamax Space, Vision Engineering Solutions, Applied Defense Solutions, Spire Global, and Harris. Lockheed Martin leads the market with its space fence network, comprehensive SSA data services and 24/7 monitoring capabilities.
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