Sep 8, 2022   SOURCE: BusinessWire

Space Traffic Management Markets: Space Situational Awareness, Space Debris Remediation, Space Orbit Management, Launch Vehicle Operations - Global Opportunity Analysis/Forecasts, 2020-2022 & 2030 - ResearchAndMarkets.com

The "Space Traffic Management Market By Application, By End Use, By Orbit, By Activity: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

the space traffic management market was valued at $11.9 billion in 2020, and is estimated to reach $22.4 billion by 2030, growing at a CAGR of 7.1% from 2021 to 2030.

Since the inception of the space era in 1958, approximately 6,000 launched are made placing nearly 12,000 satellites in orbit. Among those 12,000 satellites, 4852 satellites are active as of 2022. The rest serve as space debris and continue to serve in orbit around earth.

More than 20,000 satellites are accounted to be launched during the forecast period, making space a highly congested area. Apart from the dead satellites, the rise in several small and micro-level particles serving as space debris is also threatening space operations.

More than 1 million pieces of space debris between 1cm and 10cm are identified orbiting around Earth, and the count is constantly increasing. Increasing congestion in space due to the rising number of operational satellites and launch forecast, the threat of collision course, overlapping orbits, and debris collision has generated demand for an effective space traffic management system.

The growth of the space traffic management market is driven by factors such as space-based connectivity, satellite life vehicle extension programs, and internal cooperation between nations to agree on data sharing policies are some of the primary drivers supporting the business opportunities over the coming years.

Initiatives are taken by several regulatory bodies such as European Commission, United Nations Office For Outer Space Affairs (UNOOSA), and other U.S. federal departments to increase transparency about space operations across nations considering outer space a limited resource will promote the orientation of space traffic management system.

Companies such as Lockheed Martin, L3Harris, and Airbus among others have started offering innovative solutions to address the rising threat of space debris and cater to the consumer demand for effective space operations. Reduced launch cost due to the introduction of re-usable rockets, adoption of smallsats and CubeSats, and rise in use of satellites for establishing communication constellations, and research and development on a personal level has generated the demand of end to end space operations service providers, supporting business augmentation.

Companies have adopted product development and product launch as their key development strategies in the Space Traffic Management industry. Moreover, collaborations and acquisitions are expected to enable the leading players to enhance their product portfolios and expand into different geographical regions.

The Key players operating in the space traffic management market are Lockheed Martin, Thales Group, L3Harris Technologies, Boeing, Airbus, BAE Systems, Northrop Grumman, Raytheon Technologies, and Saab AB, and Kayhan space.

Key Benefits For Stakeholders

  • This study presents the analytical depiction of the global space traffic management market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall space traffic management market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to the key drivers, restraints, and opportunities of the global space traffic management market with a detailed impact analysis.
  • The current space traffic management market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Players

  • Lockheed Martin
  • Thales Group
  • L3Harris Technologies, Inc.
  • Boeing Company
  • Airbus Group
  • BAE Systems plc
  • Northrop Grumman
  • Raytheon Technologies
  • Saab AB
  • Kayhan Space

Key Market Segments

By Application

  • Communication
  • Earth Observation
  • Navigation, Global Positioning System, and Surveillance
  • Technology Development and Education
  • Others

By End Use

  • Civil and Government
  • Commercial
  • Military

By Orbit

  • LEO
  • MEO and Elliptical
  • GEO

By Activity

  • Space Situational Awareness
  • Space Debris Remediation
  • Space Orbit Management
  • Launch Vehicle Operations

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • United Kingdom
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

For more information about this report visit https://www.researchandmarkets.com/r/azes0i