Factors driving the demand for small satellites are the rise in space exploration activities and the growing traffic of spacecraft, which, in turn, are fueling the growth of the Space Situational Awareness (SSA) Market. Based on offering, the services segment is estimated to lead the Space Situational Awareness (SSA) Market in 2018. The growth of this segment can be attributed to the increased demand for accuracy of real-time data of space surveillance and tracking services that have driven the private companies to focus on providing space-based services such as space surveillance and tracking services.
Global Space Situational Awareness (SSA) market is expected to reach US$ 1,495.8 million by 2027, growing at an estimated CAGR of 4.6% over the forecast period with rising investments towards monitoring and analysis of space traffic
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Based on end user, the commercial segment is expected to grow at a higher CAGR, as compared to the government & military segment during the forecast period. The growth of the commercial segment can be attributed to the focus of various private space entities on SSA solutions for satellite operations throughout the satellite’s lifecycle.
Based on object, the fragmentation debris segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the rise in small satellites and CubeSats launches, and space exploration activities.
Some of the significant players functioning in the fragmented Global Space Situational Awareness (SSA) Market include Analytical Graphics, Inc, EOS, ESA-ESA/AOES Medialab, etamax space GmbH, ExoAnalytic Solutions, Inc., GMV, GRYPHON SCHAFER, Harris Corporation, Kratos Defense and Security Solutions, Inc., NorStar Space Data Inc. amongst others.
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Space Situational Awareness (SSA) Market Segmentation:
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Key Findings of the Report:
- By Object
- Mission related Debris
- Rocket Bodies
- Fragmentation Debris
- Functional Spacecraft
- Non-Functional Spacecraft
- By Offering
- By Application
- Space Weather
- Space Surveillance Tracking
- Near Earth Objects
- By End Users
- Government & Military
- By Geography
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- In terms of revenue, global Space Situational Awareness (SSA) market is expected to reach US$ 1495.8 million by 2027 owing rising investment towards space traffic analysis.
- Fragmentation Debris held the largest market share in 2018 and is expected to grow at a CAGR of 5.5% over the forecast period with a significant demand for related situational awareness services.
- Asia Pacific region is expected to witness the highest CAGR over the forecast period owing to technological innovation along with improving infrastructure facilities for space surveillance and tracking.
- Some of the players operating in the Space Situational Awareness (SSA) market are Analytical Graphics, Inc, EOS, ESA-ESA/AOES Medialab, etamax space GmbH, ExoAnalytic Solutions, Inc., GMV, GRYPHON SCHAFER, Harris Corporation, Kratos Defense and Security Solutions, Inc., NorStar Space Data Inc. amongst others.
The space situational awareness market in North America is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the demand for small satellite launches, rising US commercial/military reliance on space assets, and increasing space exploration activities in the US and Canada.
As a result of collecting and researching all information using SWOT analysis, there is a vivid picture of the competitive environment in the Space Situational Awareness (SSA) Market. Openings for future market development have been revealed, and likewise have taken the competitive advantage. The drift and propensity of this market has been taken into account, which shows that the strategic direction is good. Understand the market base and understand the market data using the standards, methodologies and other driving market trends determined for reference.
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