Space Situational Awareness Market- A Key Factor for the Growth of Global Space Economy
The Global Space Situational Awareness (SSA) market has the potential to emerge as a strategically important sector over the coming years. Space situational awareness refers to understanding what occurs in space environment through constant surveillance, tracking of space objects & their orbital details along with space weather. Critical capabilities provided by SSA includes collision avoidance of space assets & debris, detection of breakups/explosion events, space object identification & conjunction assessment. The proliferation of smaller satellites & space debris has created the need for robust SSA capabilities to ensure safety of space assets and enable the exponential growth of space economy.
The global space situational awareness (SSA) market size is expected to reach US$ 2.68 Bn by 2030, from US$ 1.88 Bn in 2023, at a CAGR of 5.2% during the forecast period.
Key Takeaways
Key players: Key players operating in the SSA market are Monet Group, Tata Steel, Gulf Manganese Corporation Limited, Vale, Eurasian Resources Group, Ferroglobe, China Minmetals Group Co., Ltd., Eramet Group, South32, OM Holdings Ltd.
Monet Group have developed advanced Space Situational Awareness Market Trends systems enabling detection of small debris and prediction of collision probability. Tata Steel has partnered with NASA for sharing orbital details of space assets to ensure safety in low earth orbit and geostationary regions.
Key opportunities: Governments across the US, Europe, and Asia are increasingly investing in independent SSA capabilities to strengthen national security. Commercial opportunities exist in areas like on-orbit satellite inspection, space debris removal, and active debris remediation.
Global Expansion: Players are focusing on partnership with global space agencies for technical assistance and data sharing. They are also targeting emerging space-faring nations in MEA and Asia to offer cost-effective SSA services and help advance their space programs.
Market Drivers:
Growing small satellite market - Proliferation of small satellites for earth observation, connectivity constellations has increased collision risk, driving need for advanced SSA to avoid in-orbit breakups.
Rising space situational threats - Events like satellite breakups, anti-satellite tests have highlighted vulnerabilities in space, forcing governments to strengthen SSA infrastructure to ensure safety of critical space assets.
Market Restrain:
High Cost of building SSA infrastructure - Setting up a constellation of sensors across the globe to enable comprehensive SSA capabilities needs huge capital investments, limiting entry of new players.
Lack of global cooperation - Absence of commonly agreed norms for sharing space object data and reluctance of certain countries continue to undermine collaborative efforts to build a robust and inclusive SSA architecture.
Segment Analysis
The global space situational awareness (SSA) market is dominated by the space monitoring & tracking segment. This segment accounted for over 50% of the total market share in 2024 owing to the increasing number of satellites, rockets, and space debris objects. The growing need to track and monitor these objects to avoid any collisions has led to increased spending on radars, sensors, and other space monitoring equipment and systems. The space weather segment is also growing rapidly due to rising concerns about geomagnetic storms and solar flares that can disrupt satellites and communication networks.
Global Analysis
Regionally, the North American region led the global space situational awareness market in 2024 with a share of over 35%. The strong presence of leading SSA players such as the U.S. Space Surveillance Network (SSN) and growing investments by NASA, U.S. Department of Defense, and private companies in advanced space monitoring infrastructure has fuelled market growth. Europe and Asia Pacific are anticipated to be the fastest growing regions during the forecast period due to rising space budgets and initiatives by space agencies such as ISRO, ESA, and JAXA. The increasing deployment of satellites by private players from countries such as China and India has also boosted regional SSA spending.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)