Global Space Situational Awareness (SSA) Market is Estimated To Witness High Growth Owing To Increased Deployments of Small Satellites


The Global Space Situational Awareness (SSA) Market is estimated to be valued at US$ 1.3 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
The global space situational awareness market involves monitoring space objects in earth's orbit and deep space to provide services like space surveillance, tracking services. SSA aims to monitor physical and orbital characteristics of natural as well as artificial objects including active/dead satellites, spent rocket bodies, microscopic dust, debris etc. This helps avoid satellite collisions and allows re-use of valuable space assets.

Market key trends:
One of the key trends driving the growth of global space situational awareness market is the increased deployment of small satellites. Small satellites play a major role in several applications such as technology demonstration, earth observation, communication, science missions and defense among others. According to BryceTech, around 2,012 small satellites are estimated to be launched between 2018 to 2022. More frequent launches of small satellites have increased the need for efficient space situational awareness and collision avoidance systems. As small satellites operate in low earth as well as sun-synchronous orbit, need of advanced SSA solutions is driving the market growth.

Porter's Analysis

Threat of new entrants: Low threat as the entry barriers are high due to the requirement of substantial R&D investments and specialized skills.

Bargaining power of buyers: Moderate bargaining power as there are few dominant players but buyers have opportunities to use substitutes.

Bargaining power of suppliers: Low bargaining power due to lack of differentiation and presence of many component suppliers.

Threat of new substitutes: Low threat as there aren't viable substitutes for space situational awareness services.

Competitive rivalry: High competitive rivalry among the major players focusing on enhancing technology and capabilities.

SWOT Analysis

Strengths: Availability of government funds for R&D and dominance of U.S. companies in satellite and launch vehicle segments.

Weaknesses: High dependency on government contracts and vulnerability of space assets to threats like space debris.

Opportunities: Growth in small satellite markets, increasing satellite launches, and expanding applications of SSA data.

Threats: Disruptions due to geopolitical tensions, increasing risks from space debris and congestion.

Key Takeaways

The Global Space Situational Awareness (SSA) Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing small satellite launches for applications such as Earth observation, communication, and technology demonstration. By 2023, the market size is projected to reach US$ 1.3 Billion.

North America dominates the global SSA market due to presence of majority of key players and government agencies like NASA, DoD, and commercial space companies in the US. The Asia Pacific region is expected to grow at the fastest pace during the forecast period led by China, India, and Japan investing heavily in developing independent space capabilities including human spaceflight and lunar exploration programs.

Key players operating in the global Space Situational Awareness market are Lockheed Martin, Northrop Grumman, Analytical Graphics, ExoAnalytic Solutions, Schafer, Etamax Space, Vision Engineering Solutions, Applied Defense Solutions, Spire Global, and Harris.

Read More: https://www.rapidwebwire.com/space-situational-awareness-ssa-market-demand-growth-and-regional-outlook-by-2030/

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