Space Situational Awareness (SSA) Market to USD 2.30 Billion by 2031 Owing to the Booming Small Satellite Industry

Space Situational Awareness (SSA) Market

Space Situational Awareness (SSA) Market is growing due to increased satellite congestion, driving demand for advanced monitoring and tracking solutions.

AUSTIN, TEXAS, UNITED STATES, May 1, 2024 /EINPresswire.com/ — Space Situational Awareness (SSA) Market Overview:

The 𝐒𝐩𝐚𝐜𝐞 𝐒𝐢𝐭𝐮𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬 (𝐒𝐒𝐀) 𝐌𝐚𝐫𝐤𝐞𝐭 is witnessing significant growth, driven by the increasing congestion in space due to the growing number of satellites and debris. SSA plays a crucial role in monitoring and tracking objects in Earth’s orbit to avoid collisions, protect existing satellites, and ensure safe space operations. With the rise of mega-constellations and increased commercialization of space activities, there is a growing need for advanced SSA capabilities to enhance space traffic management and mitigate risks in space.

One of the key trends in the SSA market is the integration of artificial intelligence (AI) and machine learning (ML) technologies to improve object detection and tracking accuracy. These technologies enable SSA systems to process large volumes of data from various sensors more efficiently, providing better situational awareness and early warning capabilities. Additionally, advancements in sensor technologies, such as high-resolution imaging and radar systems, are enhancing the ability to monitor smaller objects in space, further bolstering SSA capabilities.

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Market Sizing Paragraph:

The SNS Insider report estimates the current market size at USD 1.64 billion in 2023, with a projected growth to USD 2.30 billion by 2031 at a CAGR of 4.5% from 2024-2031. This growth trajectory is primarily driven by the increasing deployment of small satellite constellations by private companies seeking to provide global internet connectivity and other space-based services.

Major Key Players Included are:

• L3Harris Technologies

• Lockheed Martin Corporation

• Kratos Defense & Security Solutions, Inc

• Parsons Corporation

• Peraton and Other Players.

Growing Demand for Space-Based Sensing Activities to Fuel Market Expansion

The Space Situational Awareness (SSA) Market is experiencing tremendous growth, driven by the burgeoning small satellite industry. These miniaturized satellites offer a cost-effective solution for Earth observation, communication, and scientific research, leading to a surge in satellite launches and a crowded space environment. This necessitates robust SSA capabilities to track and monitor objects in space, preventing collisions and ensuring safe space operations. Small satellites’ affordability and high capacity make them ideal for situational awareness applications. They are used for tasks like tracking aircraft and ships, and adhering to regulations set by the International Civil Aviation Organization (ICAO). Additionally, collaborations like the one between ExoAnalytic Solutions and NorthStar Earth & Space in 2021 highlight the growing importance of SSA services in protecting the global satellite community.

The burgeoning demand for Low-Earth Orbit (LEO) based services, such as broadband internet and Earth observation imagery, is another key driver. As the number of small satellite constellations deployed in LEO increases, the need for SSA services to track and monitor their health and position becomes paramount. This ensures safe and efficient operations in a congested space environment.

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Recent Developments Underscore the Growing Importance of SSA

• In September 2021, Kratos Defense and Security Solutions secured a USD 2.8 million contract to develop a prototype system for delivering space situational awareness data to the US Air Force and Space Force.

• April 2021: Lockheed Martin was chosen by the German Space Agency to provide its “iSpace” space traffic management software, capable of tracking up to 300,000 objects in space.

• February 2021: L3Harris Technologies was awarded a USD 89 million contract to continue its work on the Maintenance of Space Situational Awareness Integrated Capabilities (MOSSAIC) program for the US Space Force.

Services Segment Dominates Due to Growing Demand for Domain Awareness

By Solution, the services segment dominated the Space Situational Awareness (SSA) Market in 2023. This is attributed to the growing need for comprehensive domain awareness services by entities like the US Space Force. Initiatives like the Deep Space Advanced Radar Concept program (DARC) illustrate the military’s focus on developing robust space surveillance networks for continuous monitoring of space objects.

Key Market Segment:

By Offering

• Services

• Software

By End-User

• Government

• Military

• Commercial

By Capability

• Detect, Track, and Identify (D/T/ID)

• Threat warning and assessment

• High altitude nuclear detection

• Orbital ASAT

• Directed energy attack

• Jamming

• Others (Cyber Attack, Direct Ascent ASAT)

• Characterization

By Object

• Mission-related debris

• Rocket bodies

• Fragmentation debris

• Functional spacecraft

• Non-functional spacecraft

• Others

By Solution

• Services

• Payload system

• Software

Commercial Segment to Witness Highest Growth Driven by Small Satellites

The commercial end-user segment is expected to grow with the highest growth rate during the forecast period. The burgeoning small satellite industry, driven by factors like affordability and faster development times, is a key driver. These satellites cater to various commercial applications like agriculture, navigation, and education, requiring real-time data collection. SSA services play a vital role in ensuring the safe and efficient operation of these commercial space assets.

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Impact of the Russia-Ukraine War on the SSA Market

The ongoing Russia-Ukraine war has a multifaceted impact on the SSA market.  On the one hand, increased military space activities by both sides necessitate heightened space situational awareness to track and monitor critical assets. This could potentially lead to increased investment in SSA technologies. However, the war could also disrupt supply chains and hinder international collaboration in space exploration, potentially slowing down the growth of the commercial SSA market.

North America to Lead the Market Driven by Strong Demand from Intelligence Agencies

North America is expected to dominate the SSA market throughout the forecast period. Intelligence agencies in the US prioritize maintaining space situational awareness to protect their space assets and ensure the smooth running of military operations. Additionally, the high volume of space debris in orbit necessitates robust SSA solutions to prevent collisions. Prominent organizations like NASA and the Department of Defense also contribute to market growth due to their reliance on space-based infrastructure.

The Asia-Pacific region is anticipated to witness significant growth due to the rising demand for SSA capabilities from emerging economies like China and India. China’s ongoing development of its optical sensor network, APOSOS, exemplifies this trend, underlining the region’s commitment to robust space situational awareness capabilities.

Key Takeaways for the Space Situational Awareness (SSA) Market Study

• The comprehensive SSA market study offers valuable insights for stakeholders interested in the current and future landscape of this rapidly evolving market.

• The miniaturization of satellites has significantly reduced launch costs, fueling the growth of the small satellite industry. This surge in space traffic necessitates robust SSA solutions to prevent collisions, safeguard critical assets, and ensure sustainable space exploration.

• The services segment currently dominates the market due to the increasing demand for comprehensive situational awareness solutions. However, the commercial segment is poised for significant growth driven by the affordability and rapid development cycles of small satellites.

• The ongoing Russia-Ukraine war and the growing reliance on space-based infrastructure across various sectors highlight the critical importance of SSA.

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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia War

4.3 Impact of Ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Space Situational Awareness Market, By Capability

9. Space Situational Awareness Market, By Object

10. Space Situational Awareness Market, By Solution

11. Space Situational Awareness Market, By End User

12. Space Situational Awareness Market, By Offering

13. Regional Analysis

14. Company Profiles

15. Competitive Landscape

16. Conclusion

About Us:

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Originally published at https://www.einpresswire.com/article/708005908/space-situational-awareness-ssa-market-to-usd-2-30-billion-by-2031-owing-to-the-booming-small-satellite-industry

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