DUBLIN, July 26, 2021 /PRNewswire/ — The «Space Situational Awareness (SSA) – Global Market Trajectory & Analytics» report has been added to ResearchAndMarkets.com’s offering.
Global Space Situational Awareness (SSA) Market to Reach $1.5 Billion by 2027
Amid the COVID-19 crisis, the global market for Space Situational Awareness (SSA) estimated at US$1.1 Billion in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2027, growing at a CAGR of 4% over the period 2020-2027.
Services, one of the segments analyzed in the report, is projected to record 4.2% CAGR and reach US$1.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 3.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $541.5 Million, While China is Forecast to Grow at 5.7% CAGR
The Space Situational Awareness (SSA) market in the U.S. is estimated at US$541.5 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$141.9 Million by the year 2027 trailing a CAGR of 5.7% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 3.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- With Defense Budgets Coming Under Intense Pressure, SSA Market to Witness Challenging Times
- An Introduction to Space Situational Awareness (SSA): Watchful Eye to Monitor & Observe Eventful Near-Earth Environment
- Main Target Objects: Man-Made Debris
- Select SSA Organizations & Programs
- Increasingly Crowded Space Shines Cosmic Light on Space Situational Awareness Market
- SSA Emerges as Critical Component of Space Deterrence & National Security Regime
- Increasing Space Activity & Focus on National Security to Impel Global Space Situational Awareness Market
- Recent Market Activity
- Rising Adoption of SSA Unlikely to Offer Incentives for Further Development of Evasion Detection & Destruction Techniques
- SSA Capabilities Present Hard Nut to Crack for Adversaries for Strategic Use
- Market Analysis by Offering
- World Space Situational Awareness Market by Offering (2020): Percentage Breakdown of Revenues for Services, and Software
- Global Space Situational Awareness Services Market by Space Surveillance & Tracking, Space Weather Services, and Near Earth Object Detection Services
- Market Analysis by Object: Increasing Space Congestion Makes Fragmentation Debris Segment to Post Fastest Growth
- World Space Situational Awareness Market by Object (2020 & 2027): Percentage Breakdown of Revenues for Fragmentation Debris, Non-Functional Spacecrafts, Rocket Bodies, Functional Spacecrafts, and Other Objects
- End-Use Market Analysis
- World Space Situational Awareness Market by End-Use (2020 & 2027): Percentage Breakdown of Revenues for Government & Military, and Commercial
- Regional Analysis – North America Commands Major Share
- US Assigns Department of Commerce with Task of Civil Space Situational Awareness
- Space Situational Awareness (SSA) Program: A Landmark Initiative of European Space Agency
2. FOCUS ON SELECT PLAYERS (Total 40 Featured)
- Analytical Graphics, Inc.
- Elecnor Deimos Group
- etamax space GmbH
- ExoAnalytic Solutions
- GlobVision Inc.
- GMV Innovating Solutions
- Kratos Defense & Security Solutions, Inc.
- L3Harris Technologies, Inc.
- Lockheed Martin Corporation
- NorthStar Earth & Space Inc.
- Vision Engineering Solutions, Inc.
3. MARKET TRENDS & DRIVERS
- New Satellite Launches and Rising Space Activities Flare Up Demand
- Increased Emphasis on Enhancing National Security
- Rise in Partnership among Countries for SSA
- Growing Menace of Space Debris Calls for Improved SSA Capabilities
- Proliferation of Small Satellites Elevates Demand
- Select Conventional Satellites Vs. Small Satellites: A Comparative Analysis
- Surging Demand for Space-Based Sensing Bodes Well
- Blockchain Enabled Space Traffic Awareness
- Evolving Role of LEO Satellite Services
- Increasing Use of Space-based Infrastructure
- Increasing Involvement of Private Players in the Global Space Industry
- Market Remains Buoyant over Scope of On-Orbit Servicing
- Technology Advancements to Fuel Market Growth
- Restraints and Challenges
- Lack of Unified Standards
- Issues in Micro-Sized Debris Detection
- Technological Glitches
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF EUROPE
REST OF WORLD
- Total Companies Profiled: 40
For more information about this report visit https://www.researchandmarkets.com/r/ana4zi
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets