Space Debris Monitoring And Removal Market Report by Size, Global Trends, Growth, Opportunity and Forecast to 2032

Space Debris Monitoring and Removal Market

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 / — 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.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ ๐๐จ๐ฐ:

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.

๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:

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.

๐๐ซ๐จ๐ฆ๐ข๐ง๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

๐€๐ข๐ซ๐›๐ฎ๐ฌ ๐’๐„, ๐๐จ๐ซ๐ญ๐ก๐ซ๐จ๐ฉ ๐†๐ซ๐ฎ๐ฆ๐ฆ๐š๐ง, ๐Ž๐›๐ซ๐ฎ๐ญ๐š ๐’๐ฉ๐š๐œ๐ž ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ ๐‚๐จ๐ซ๐ฉ., ๐‚๐ฅ๐ž๐š๐ซ๐’๐ฉ๐š๐œ๐ž, ๐Ž๐ซ๐›๐ข๐ญ๐†๐ฎ๐š๐ซ๐๐ข๐š๐ง๐ฌ, ๐’๐ก๐š๐ซ๐ž ๐Œ๐ฒ ๐’๐ฉ๐š๐œ๐ž ๐’๐€๐’, ๐€๐ฌ๐ญ๐ซ๐จ๐ฌ๐œ๐š๐ฅ๐ž, ๐•๐จ๐ฒ๐š๐ ๐ž๐ซ ๐’๐ฉ๐š๐œ๐ž ๐‡๐จ๐ฅ๐๐ข๐ง๐ ๐ฌ ๐ˆ๐ง๐œ., ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐จ ๐Ž๐ฉ๐ญ๐ข๐œ ๐’๐ฒ๐ฌ๐ญ๐ž๐ฆ๐ฌ, ๐‹๐จ๐œ๐ค๐ก๐ž๐ž๐ ๐Œ๐š๐ซ๐ญ๐ข๐ง ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง

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.

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ :

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

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.

๐Š๐„๐˜ ๐…๐ˆ๐๐ƒ๐ˆ๐๐†๐’ ๐Ž๐… ๐“๐‡๐„ ๐’๐“๐”๐ƒ๐˜

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.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

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David Correa
Allied Market Research
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