The global space situational awareness (SSA) services market was valued at $125.2 million in 2021, which is expected to grow with a CAGR of 3.3% during the forecast period 2022-2032 and reach $172.7 million by 2032. The growth in the global space situational awareness services market is expected to be driven by the increasing number of small satellite constellations in the low Earth orbit (LEO).
Read Report Overview: Space Situational Awareness Services Market
Market Lifecycle Stage
Over the past few years, trends in the number of satellites launched by commercial satellite operators have been increasing drastically. As per the BIS Research space database, the global satellite launch forecast estimates 45,131 satellites to be launched within the 2022-2032 timeline. Out of these 45,131 satellites, 95% of satellites are expected to operate in the Low Earth Orbit (LEO). This indicates that over 95% of the satellites are expected to operate in one orbital segment leading to a growing state of congestion, which further adds to the risk perception of collision and space debris concerns.
In addition, multiple commercial satellite operators are entering the market, further increasing the number of satellite launches in upcoming years. This indicates that the space industry will face ever-increasing congestion and risk from space debris. Given the circumstance, the need for space situational awareness services is very high at this point, and the same is expected to persist as well.
Impact
The global satellite launch market is observing rising investment across small satellites in low Earth orbit (LEO), which drives the investments across space situational awareness services. Such efforts focus on operating huge satellite constellations, due to which the congestion in the LEO will increase during the forecast period. This will create the need for enhanced space situational awareness (SSA) services.
Commercial space situational awareness service providers are increasing their spending to develop collision avoidance services to proactively predict the impact at least one week before the event. This is anticipated to increase the demand for space situational awareness (SSA) services.
Analyst Perspective
According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, "Mission operations spending is rising, with an increase in the number of satellite constellations globally. While comprehensive mission operations services are developing, various other services such as collision avoidance and rendezvous support are also advancing. With new satellite constellations in the low Earth orbit evolving, the need for enhanced space situational awareness services is also on the rise."
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Recent Developments in Global Space Situational Awareness Services (SSA) Market
- In April 2022, Astroscale Holdings, Inc. renewed its contract with the Ministry of Economy, Trade and Industry to develop robotic hand and arm technologies for on-orbiting servicing of satellites and to remove space debris.
- In March 2022, Swedish Space Corporation announced its plan to start its new office and move Esrange Space Center in Kiruna city center to launch satellites in 2023.
- In March 2022, NorthStar Earth & Space, Inc. collaborated with SES S.A. to ensure space sustainability and improve space situational awareness using NorthStar's space monitoring system. It helps the satellite operators avoid collisions and safely manage their fleet operation.
- In March 2022, NorthStar Earth & Space, Inc. signed a contract with Spire Global to develop CubeSat, which collects space situational awareness data for NorthStar using space-based sensors. It would provide essential information such as space traffic management and safe navigation to the satellite operators.
- In February 2022, GMV Innovating Solutions S.L. signed a contract of about three years with Eumetsat to provide high-accuracy optical data services and orbital determination solutions. The information would help the Eumetsat for orbital determination, maneuvering estimation, and ground station calibrations.
