Surge in space debris threat and increase in satellite constellations drive the growth of the global space debris monitoring and removal market.
PORTLAND, OR, US, February 7, 2024 /EINPresswire.com/ — Space Debris Monitoring And Removal Market by Activity (Space Debris Monitoring and Space Debris Removal), Debris Size (1mm to 1 cm, 1 cm to 10 cm, and Greater than 10 cm), and Orbit (LEO and GEO): Global Opportunity Analysis and Industry Forecast, 2022-2032″. According to the report, the global space debris monitoring and removal industry size generated $976.0 million in 2022, and is anticipated to generate $2,010.3 million by 2032, witnessing a CAGR of 7.7% from 2023 to 2032.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A10442
The global market for space debris monitoring and removal is influenced by several factors. The rise in volume of space debris, known as space junk, poses a significant threat to operational satellites and spacecraft. Consequently, there is a growing need for monitoring and removal efforts to mitigate this risk. The exponential increase in satellite constellations, particularly in sectors like communication and earth observation, further underscores the importance of space debris management. This expanding satellite infrastructure demands effective monitoring to safeguard these valuable assets.
Prime determinants of growth
The space debris monitoring and removal market is expected to witness notable growth owing to surge in space debris threat, increase in satellite constellations, and rise in initiatives associated with space sustainability. Moreover, growth in demand for space tourism and development of advanced technologies are expected to provide lucrative opportunities for growth of the market during the forecast period. On the contrary, high development costs and regulatory compliance with international space regulations & agreements limit the growth of the space debris monitoring and removal market.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/space-debris-monitoring-market/purchase-options
Regulatory agencies, like the Federal Aviation Administration (FAA) in the United States, require space tourism operators to adhere to strict safety guidelines. These guidelines includes collision avoidance procedures and the ability to assess and mitigate space debris risks. Compliance with these regulations provides an opportunity for companies that offer space debris monitoring and removal solutions to become integral to space tourism operations. Therefore, the growing demand for space tourism creates significant opportunities for the space debris monitoring and removal market.
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
𝐀𝐢𝐫𝐛𝐮𝐬 𝐒𝐄, 𝐍𝐨𝐫𝐭𝐡𝐫𝐨𝐩 𝐆𝐫𝐮𝐦𝐦𝐚𝐧, 𝐎𝐛𝐫𝐮𝐭𝐚 𝐒𝐩𝐚𝐜𝐞 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐂𝐨𝐫𝐩., 𝐂𝐥𝐞𝐚𝐫𝐒𝐩𝐚𝐜𝐞, 𝐎𝐫𝐛𝐢𝐭𝐆𝐮𝐚𝐫𝐝𝐢𝐚𝐧𝐬, 𝐒𝐡𝐚𝐫𝐞 𝐌𝐲 𝐒𝐩𝐚𝐜𝐞 𝐒𝐀𝐒, 𝐀𝐬𝐭𝐫𝐨𝐬𝐜𝐚𝐥𝐞, 𝐕𝐨𝐲𝐚𝐠𝐞𝐫 𝐒𝐩𝐚𝐜𝐞 𝐇𝐨𝐥𝐝𝐢𝐧𝐠𝐬 𝐈𝐧𝐜., 𝐄𝐥𝐞𝐜𝐭𝐫𝐨 𝐎𝐩𝐭𝐢𝐜 𝐒𝐲𝐬𝐭𝐞𝐦𝐬, 𝐋𝐨𝐜𝐤𝐡𝐞𝐞𝐝 𝐌𝐚𝐫𝐭𝐢𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
Advanced technologies, such as high-resolution imaging satellites, ground-based radar systems, and advanced data analytics, can significantly enhance the detection and tracking of space debris. Higher-resolution imaging allows for better characterization of objects in space, while improved radar systems enable more accurate and real-time monitoring. This technological progress enables space agencies, governments, and commercial entities to better understand the spatial distribution of debris and plan maneuvers to avoid collisions.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A10442
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global space debris monitoring and removal market revenue. Governments in North America are actively involved in space sustainability efforts. In the U.S., agencies such as NASA and the Department of Defense play a pivotal role in space debris monitoring and research. Government-driven initiatives & regulations influence the growth of the market and promote responsible space activities.
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
By activity, the space debris removal segment is anticipated to exhibit significant growth in the future.
By debris size, the 1 cm to 10 cm segment is anticipated to exhibit significant growth in the future.
By orbit, the LEO segment is anticipated to exhibit significant growth in the future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡: