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
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
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