The global space situational awareness market size is expected to reach USD 2.23 billion by 2030 according to a new study by Polaris Market Research. The report “Space Situational Awareness Market Share, Size, Trends, Industry Analysis Report, By Solution (Services, Payload Systems, Software), By Orbital Range (Near-Earth, Deep Space) By End-Use; By Object; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increase in infrastructure modernization contracts and the concentration of government agencies and corporate organizations on situational awareness contribute to the growth of the industry. For instance, in February 2021, the U.S. Space Force and Command have awarded L3Harris Technologies USD 89 million for available choice two of a contract for the maintenance and modernization of the resources.
The MOSSAIC program had a contract value of USD 1.2 Bn for ten years. This program enables the Force and Command to improve their systems for obtaining a complete picture of the behavior and position of objects. Based on the orbital range, the near-earth segment accounted for the leading share in the market in 2021. This segment is driven by the growing demand for high-speed and low-latency communication.
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Market players such as Parsons Corporation, Etamax Space, Exoanalytic Solutions, Globvision, L3harris Technologies, Elecnor Deimos Group, Lockheed Martin Corporation, Telespazio, Northstar Earth & Space Inc., Peraton, Schafer Corporation, Spacenav, and Kratos Defense & Security Solutions, Inc. are some key players operating in the global market.
In March 2021, Lockheed Martin was awarded an unannounced commercial customer contract to develop and deliver a space domain situational awareness mission. Thus, the contracts among the major players for developing and delivering spacecraft boost the industry growth during the forecast period.
Polaris Market Research has segmented the space situational awareness market report based on solution, orbital range, end-use, object, and region:
Space Situational Awareness, Solution Outlook (Revenue - USD Billion, 2018 - 2030)
Space Situational Awareness, Orbital Range Outlook (Revenue - USD Billion, 2018 - 2030)
Space Situational Awareness, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Space Situational Awareness, Object Outlook (Revenue - USD Billion, 2018 - 2030)
Space Situational Awareness, Regional Outlook (Revenue - USD Billion, 2018 - 2030)