Space Situational Awareness (SSA) Market Size to Outstrip US$ 2,178.89 Million, at 6.0% CAGR by 2028

According to our latest market study on "Space Situational Awareness (SSA) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Software and Services), Object (Mission-Related Debris, Rocket Bodies, Fragmentation Debris, Functional Spacecraft, and Non-Functional Spacecraft), End User (Commercial and Government & Military), and Orbit Range (Deep Space and Near Earth)," the market was valued at US$ 1,535.91 million in 2022 and is expected to register a CAGR of 6.0% during the forecast period of 2022 to 2028 to reach US$ 2,178.89 million by 2028.

The space situational awareness (SSA) market growth is driven by countries with prominent space exploration organizations, rising investments in space research, and new types of space operations generating new threats for maintaining precise information on space object orbits. The US, Russia, China, the UK, Japan, and France are a few major countries operating a large number of satellites in the space.

The rapid rise in space launches necessitates the adoption of space situational awareness (SSA) solutions and services. SSA can be termed as the tracking, understanding, and classification of space objects and their functional environment. SSA provides the decision-makers with Space Domain Awareness (SDA), which is the ability to understand current and predicted working environments, and thus is the key to all space safety and space traffic management (STM) activities. SSA tracks objects in space, identifies them, establishes their orbits, gathers intelligence on the environment they are operating in and predicts their future positions, as well as threats that might be arising to their operations. The data can indicate conjunctions between objects and warn space operators to enable collision avoidance maneuvers for potentially dangerous close approaches.

Based on offering, the space situational awareness (SSA) market is bifurcated into software and service. By object, the space situational awareness (SSA) market is segmented into mission-related debris, rocket bodies, fragmentation debris, functional spacecraft, and nonfunctional spacecraft. Based on end user, the space situational awareness (SSA) market is bifurcated into commercial and government & military. In terms of orbit range, the space situational awareness (SSA) market is divided into deep space and near earth.

The Key Players in Space Situational Awareness (SSA) Market report study include: Analytical Graphics, Inc.;Exoanalytic Solutions, Inc; Globvision Inc.; GMV Innovating Solutions SL; L3Harris Technologies, Inc.; Kratos Defense and Security Solutions, Inc.; Lockheed Martin Corporation; Parsons Corporation; Belcan; and Spacenav LLC among others.