According to the new research report published by The Insight Partners, titled “The space situational awareness (SSA) market was valued at US$ 1,535.91 million in 2022 and is expected to register a CAGR of 6.0% during the forecast period of 2022 to 2028 to reach US$ 2,178.89 million by 2028..
Space situational awareness (SSA) is a vital component of space domain awareness (SDA) that assists decision-makers in understanding current and predicted operational environments. SSA tracks and identifies objects that help determine their orbits, understand their functional environment, and forecast future positions and challenges to their operations. Also, SSA assists in estimating debris from meteor storms, fragmentation events, or other potential natural events that may affect space operations. SSA is a foundation for all space traffic management (STM) and space safety activities. Therefore, all these benefits of SSA propel its penetration.
The rapid rise in space launches necessitates the adoption of space situational awareness (SSA) solutions and services. SSA can be termed as the tracking, understanding, and classification of space objects and their functional environment. SSA provides the decision-makers with Space Domain Awareness (SDA), which is the ability to understand current and predicted working environments, and thus is the key to all space safety and space traffic management (STM) activities. SSA tracks objects in space, identifies them, establishes their orbits, gathers intelligence on the environment they are operating in and predicts their future positions, as well as threats that might be arising to their operations. The data can indicate conjunctions between objects and warn space operators to enable collision avoidance maneuvers for potentially dangerous close approaches.
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Based on offering, the space situational awareness (SSA) market is bifurcated into software and service. By object, the space situational awareness (SSA) market is segmented into mission-related debris, rocket bodies, fragmentation debris, functional spacecraft, and nonfunctional spacecraft. Based on end user, the space situational awareness (SSA) market is bifurcated into commercial and government & military. In terms of orbit range, the space situational awareness (SSA) market is divided into deep space and near earth.
Most countries in Europe are technologically advanced and have strong grip on space and research projects. Regional space agencies are investing heavily in space situational technologies to better understand the objects in orbit. In the RoW, the regional countries are taking steps to promote the SSA. In March 2023, LeoLabs, a leading commercial provider of low Earth orbit (LEO) mapping and SSA services, declared Argentina as a site for their next space radar. Developments by players are expected to bolster the growth of the space situational awareness (SSA) market in the RoW during the forecast period.
During COVID-19 pandemic, there was a continuous unflinching commitment from satellite manufacturers to building and operating satellites and delivering data to more customers than ever. A continuously growing number of COVID-19 patients compelled government authorities to impose stringent lockdowns across the US and other countries during the first three quarters of 2020. Hence, businesses got disrupted, and satellite manufacturers had to comply with guidelines to prioritize the safety of their employees to maintain stable satellite operations. However, the pandemic led to a high reluctance to satellite-based data. Despite lower satellite launches, reliance on SSA to ensure space asset safety increased. Thus, COVID-19 pandemic had a minimal negative impact on the North American space situational awareness (SSA) market growth.
Companies Profiled in this report includes
- Analytical Graphics, Inc.
- Exoanalytic Solutions, Inc
- Globvision Inc.
- GMV Innovating Solutions SL
- L3Harris Technologies, Inc.
- Kratos Defense and Security Solutions, Inc.
- Lockheed Martin Corporation
- Parsons Corporation
- Belcan
- Spacenav LLC
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