The Global Space Situational Awareness (SSA) Market involves collecting, tracking, and understanding space objects such as satellites in space to monitor and characterize the space environment. SSA systems provide essential functions such as maintaining the space catalog database, providing timely break-up or end-of-life notifications, supporting conjunction assessment screenings, and assisting with reentry predictions. SSA products include sensors, software, processing systems, and services that deliver actionable information to help protect space assets and enable safe space operations. The growing utilization of space and subsequent risks of collisions in space have boosted demand for SSA.
The global space situational awareness (SSA) market size is expected to reach US$ 2.68 Bn by 2030, from US$ 1.88 Bn in 2023, at a CAGR of 5.2% during the forecast period.
Key Takeaways
Key players operating in the Global Space Situational Awareness Market include Monet Group, Tata Steel, Gulf Manganese Corporation Limited, Vale, Eurasian Resources Group, Ferroglobe, China Minmetals Group Co., Ltd., Eramet Group, South32, and OM Holdings Ltd. These players are investing in expanding their SSA capabilities through acquisitions, partnerships, and new technology developments.
The increasing Space Situational Awareness Market Trends is being driven by the growing number of satellites and orbital debris, along with increasing satellite communication needs. More countries and private companies are developing space programs and setting up space infrastructures for various applications like Earth observation, navigation, telecommunication etc. This is expected to multiply space objects in the coming years.
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