According to the new research report published by The
Insight Partners, titled “The
space situational awareness (SSA) market was valued at US$ 1,535.91
million in 2022 and is expected to register a CAGR of 6.0% during the forecast
period of 2022 to 2028 to reach US$ 2,178.89 million by 2028..




Space situational awareness (SSA) is a vital component of
space domain awareness (SDA) that assists decision-makers in understanding
current and predicted operational environments. SSA tracks and identifies
objects that help determine their orbits, understand their functional
environment, and forecast future positions and challenges to their operations.
Also, SSA assists in estimating debris from meteor storms, fragmentation
events, or other potential natural events that may affect space operations. SSA
is a foundation for all space traffic management (STM) and space safety
activities. Therefore, all these benefits of SSA propel its penetration.




The rapid rise in space launches necessitates the adoption
of space situational awareness (SSA) solutions and services. SSA can be termed
as the tracking, understanding, and classification of space objects and their
functional environment. SSA provides the decision-makers with Space Domain
Awareness (SDA), which is the ability to understand current and predicted
working environments, and thus is the key to all space safety and space traffic
management (STM) activities. SSA tracks objects in space, identifies them,
establishes their orbits, gathers intelligence on the environment they are
operating in and predicts their future positions, as well as threats that might
be arising to their operations. The data can indicate conjunctions between
objects and warn space operators to enable collision avoidance maneuvers for
potentially dangerous close approaches.




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Based on offering, the space situational awareness (SSA)
market is bifurcated into software and service. By object, the space
situational awareness (SSA) market is segmented into mission-related debris,
rocket bodies, fragmentation debris, functional spacecraft, and nonfunctional
spacecraft. Based on end user, the space situational awareness (SSA) market is
bifurcated into commercial and government & military. In terms of orbit
range, the space situational awareness (SSA) market is divided into deep space
and near earth.




Most countries in Europe are technologically advanced and
have strong grip on space and research projects. Regional space agencies are
investing heavily in space situational technologies to better understand the
objects in orbit. In the RoW, the regional countries are taking steps to
promote the SSA. In March 2023, LeoLabs, a leading commercial provider of low
Earth orbit (LEO) mapping and SSA services, declared Argentina as a site for
their next space radar. Developments by players are expected to bolster the
growth of the space situational awareness (SSA) market in the RoW during the
forecast period.




During COVID-19 pandemic, there was a continuous unflinching
commitment from satellite manufacturers to building and operating satellites
and delivering data to more customers than ever. A continuously growing number
of COVID-19 patients compelled government authorities to impose stringent
lockdowns across the US and other countries during the first three quarters of
2020. Hence, businesses got disrupted, and satellite manufacturers had to
comply with guidelines to prioritize the safety of their employees to maintain
stable satellite operations. However, the pandemic led to a high reluctance to
satellite-based data. Despite lower satellite launches, reliance on SSA to
ensure space asset safety increased. Thus, COVID-19 pandemic had a minimal
negative impact on the North American space situational awareness (SSA) market
growth.




Companies Profiled in
this report includes




·
Analytical Graphics, Inc.




·
Exoanalytic Solutions, Inc




·
Globvision Inc.




·
GMV Innovating Solutions SL




·
L3Harris Technologies, Inc.




·
Kratos Defense and Security Solutions, Inc.




·
Lockheed Martin Corporation




·
Parsons Corporation




·
Belcan




·
Spacenav LLC




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