8.2% CAGR Propels Space Debris Monitoring and Removal Market to $2,068.80 Million

Space Debris Monitoring and Removal Market Size Worth $2,068.80 Million By 2032 | CAGR: 8.2%


The global space debris monitoring and removal market size is expected to reach USD  2,068.80 million by 2032, according to a new study by Polaris Market Research. The report “Space Debris Monitoring and Removal Market Share, Size, Trends, Industry Analysis Report, By Application (Space Debris Monitoring, and Space Debris Removal); By Debris Size Range; By Orbit Type; By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The industry is experiencing an increase in demand due to numerous space exploration initiatives taken by the government.

  • For instance, recently in July 2023, The Chandrayaan-3 Moon lander and rover project was launched by the ISRO. The propulsion model that will establish the Chandrayaan-3 into lunar orbit is atop the lander, which includes a rover within.

Various satellites have been launched, and the NASA government also decides on future planning of the satellites for space explorations, which is the major factor boosting the growth of the market over the anticipated period.

Even orbital launches have increased in several parts of the planet. In March 2023, it was announced that, by 2026, two abandoned satellites that are now orbiting the Earth will be removed, according to a report by the Astroscale. The UK's 1st debris removal mission will use the company's Rendezvous and Proximity Operations (RPO) & robotic debris-capturing capabilities as part of its COSMIC mission. Therefore, the launches of network-based satellites, as well as the launch of advanced space debris removals, are the major factors that are assisting the growth of the market over the forecast period.

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In addition, to enhance the procedure for monitoring and removing space debris, the manufacturers are working to build cutting-edge technologies. The major players put creative concepts into practice to develop cutting-edge features so they can offer their best services. To control the rate of expansion, the market is concentrating on several possibilities and difficulties.

In May 2023, Arianespace was contracted by Swiss-based in-orbit service business ClearSpace to fly its first debris removal mission to collect and deorbit a 100-kilogram (220-pound) piece of space trash. In the second half of 2026, the ClearSpace-1 servicer spacecraft will be launched to low Earth orbit (LEO) from French Guiana as a supplementary passenger to a larger cargo. Since these developments are boosting the market growth.

Space Debris Monitoring and Removal Market Report Highlights

  • The LEO segment held the fastest market share in 2022, which is accelerated by the rising government investment across the globe for space-related activities.
  • In 2022, the 1 mm to 1 cm segment held the largest market share due to the abundance of small but potentially hazardous debris in Earth's orbit.
  • North America accounted for the largest market share during the forecast period due to the increasing government involvement in the development of space-related launches.
  • The global players include Airbus SAS, Altius Space Machines, Astroscale Holdings, clearSpace, D-Orbit, Electro Optic Systems, Lockheed Martin Corporation, Northrop Grumman Corporation, Obruta Space Solutions Corp., Orbit Guardians Corporation, Share My Space.

Polaris Market Research has segmented the Space Debris Monitoring and Removal market report based on application, debris size range, orbit type, end-use, and region:

Space Debris Monitoring and Removal, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Space Debris Monitoring
  • Space Debris Removal

Space Debris Monitoring and Removal, Debris Size Range Outlook (Revenue - USD Million, 2019 - 2032)

  • 1mm to 1cm Debris Size
  • 1cm to 10cm Debris Size
  • Greater than 10 Cm

Space Debris Monitoring and Removal, Orbit Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Low Earth Orbit (LEO)
  • Medium-Earth Orbit (MEO)
  • Geostationary Earth Orbit (GEO)

Space Debris Monitoring and Removal, End-Use Outlook (Revenue - USD Million, 2019 - 2032)

  • Commercial
  • Defense

Space Debris Monitoring and Removal, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Space Debris Monitoring and Removal Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 1,016.14 million

Revenue Forecast in 2032

USD 2,068.80 million

CAGR

8.2% from 2023 - 2032

Base year

2022

Historical data

2019 - 2021

Forecast period

2023 - 2032

Quantitative units

Revenue in USD million and CAGR from 2023 to 2032

Segments Covered

By Application, By Debris Size Range, By Orbit Type, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization    

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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