Stratview Research published a new report on the Space Situational Awareness (SSA) Market that offers detailed segmentation of the market by Offering Type (Services, Software), by End-User Type (Government Military, Commercial), by Object Type (Mission-Related Debris, Rocket Bodies, Fragmentation Debris, Functional Spacecraft, Non-Functional Spacecraft, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report, Space Situational Awareness Market was estimated at USD 1.40 Billion in 2021 and is likely to grow at a CAGR of 5.1% during 2022-2028 to reach USD 1.98 Billion in 2028. The growth of the global space situational awareness market is driven by a wide array of factors, such as increasing congestion of objects in space and growing emphasis by various government agencies and private entities on space situational awareness.
The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Covid Impact –
The Corona Virus Pandemic has caused significant losses in nearly every industry all over the world. The pandemic has had a rapid impact on the global economy, affecting the market's manufacturing, demand, and distribution network. The Space Situational Awareness (SSA) Market has also been influenced by the unprecedented COVID-19 outbreak. The market analysts have thoroughly examined the market and gathered insightful data related to covid impact such as before and after market size, regional impact, financial losses, organic and inorganic growth factors, etc.
Leading players in the market -
To build a successful business, it is vital to understanding the market - both the customers and the competitors. The report published consists of a list of key players active in the Space Situational Awareness (SSA) Market, is given below -
- Analytical Graphics
- Applied Defense Solutions
- Exoanalytic Solutions
- Etamax Space
- Elecnor Deimos Group
- GMV Innovating Solutions
- Kratos Defense Security Solutions
- Lockheed Martin
- Norstar Space Data
- Polaris Alpha
Report Findings
Based on the end-user type, the market is segmented as government military and commercial. The commercial segment is expected to depict a higher growth as against the government military segment, in the coming five years, owing to various private space entities eyeing on SSA solutions for satellite operations during a satellite’s lifecycle. Commercial establishments are seeking an attention in space situational awareness to provide space-based services, such as conjunction avidness of satellites, deorbiting of non-functional spacecraft, and elimination of debris left over by government/military surveillance networks, and providing data-sharing transparency for satellite operators/owners.
Based on the object type, the market is segmented as mission-related debris, rocket bodies, fragmentation debris, functional spacecraft, non-functional spacecraft, and others. The fragmentation debris segment dominated the market in 2018, and is estimated to continue its command during the forecast period as well. The growth of this segment can be attributed to the escalating congestion in space, owing to fragmentation debris, coupled with an upsurge in various space exploration activities.
In terms of regions, North America held the largest share of the space situational awareness market in 2018. The market is driven by high demand for space situational awareness happenings from prominent establishments, such as NASA and the Department of Defense, owing to the growing dependence on space assets and for preserving safe space operations. Europe and Asia-Pacific held substantial shares of the space situational awareness market in 2018. The Middle East, South America, and Africa are the other major regions expected in the Rest of the World (RoW) region, which are also expected to offer considerable growth opportunities during the forecast period.
FAQs in the report -
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:
- How big is the potential Space Situational Awareness (SSA) Market?
- Will this market grow or shrink in the future?
- Who are our top competitors or key players?
- What market share do the competitors own?
- How Covid19 has affected the market?
- How long will it take to recover from the Covid-impact?
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