Global Space Traffic Management Market Size To Worth USD 28.94 Billion By 2033 | CAGR of 7.07%
Category: Aerospace & DefenseGlobal Space Traffic Management Market Size To Worth USD 28.94 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Space Traffic Management Market Size is Expected to Grow from USD 14.62 Billion in 2023 to USD 28.94 Billion by 2033, at a CAGR of 7.07% during the forecast period 2023-2033.
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Browse key industry insights spread across 204 pages with 110 Market data tables and figures & charts from the report on the "Global Space Traffic Management Market Size, Share, and COVID-19 Impact Analysis, By Traffic Type (Launch Vehicles, Satellite, and Others), By Orbit Type (Geostationary Orbit (GEO), Low-Earth Orbit (LEO) and Medium Earth Orbit (MEO)), By Application (Space Situational Awareness, Space Debris Remediation, Space Orbit Management, Launch Vehicle Operations and Others), By End User (Civil & Government, Commercial, and Military), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/space-traffic-management-market
The practices, policies, and guidelines utilized to conduct operations in space as securely, sustainably, and safely as possible are known as space traffic management. Space traffic management (STM) represented one of the most important advances in space politics at the time. To increase the precision and effectiveness of tracking and projecting the paths of space debris, the space traffic management market is concentrating on integrating artificial intelligence (AI) into space debris monitoring platforms. Increased space congestion brought due to more space launches and spacecraft as well as leftover space debris is driving the space traffic management market. The increasing quantity of space debris has raised the risk of a space collision, which might have disastrous consequences for prospective crewed and uncrewed spacecraft launches. However, the space traffic management market development is anticipated to be restricted by the 5–10% increase in overall operational costs that come with changes to satellite maneuvers and components.
The satellite segment is predicted to hold the greatest market share through the forecast period.
Based on the traffic type, the space traffic management market is classified into launch vehicles, satellite, and others. Among these, the satellite segment is predicted to hold the greatest market share through the forecast period. The Atlantic Council estimates that 25,000 more spacecraft will enter Earth's orbit, bringing the total number of operational satellites from more than 40 nations to over 4,800. As launch prices decline and more satellites reach Earth's orbit, these kinds of collisions are going to occur more frequently.
The low-earth orbit (LEO) segment is predicted to hold the greatest market share through the forecast period.
Based on its orbit type, the space traffic management market is classified into geostationary orbit (GEO), low-earth orbit (LEO), and medium earth orbit (MEO). Among these, the low-earth orbit (LEO) segment is predicted to hold the greatest market share through the forecast period. In low-earth orbit (LEO), the number of operational on-orbit spacecraft and object density have significantly increased as a result of the deployment of very large satellite constellations and the proliferation of tiny satellites.
The space situational awareness segment is anticipated to hold the greatest market share during the projected timeframe.
Based on the application, the space traffic management market is divided into space situational awareness, space debris remediation, space orbit management, launch vehicle operations, and others. Among these, the space situational awareness segment is anticipated to hold the greatest market share during the projected timeframe. Operators can receive quick information with the help of space situational awareness (SSA). As additional satellites enter orbit, the chance of a collision which can cause catastrophic space accidents and financial loss increases.
The commercial segment is anticipated to hold the greatest market share during the projected timeframe.
Based on the end user, the space traffic management market is divided into civil & government, commercial, and military. Among these, the commercial segment is anticipated to hold the greatest market share during the projected timeframe. Activities conducted in a commercial environment are those in which a company provides services to clients customers are mainly government agencies.
North America is estimated to hold the largest share of the space traffic management market over the forecast period.
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North America is estimated to hold the largest share of the space traffic management market over the forecast period. Strong consumer demand, especially in urban regions, creative technology, and well-established supply chains all support the space traffic management business. The main contributor to this region's growth is the United States, whose middle class is expanding at a rapid pace.
Asia Pacific is predicted to have the highest CAGR growth in the space traffic management market over the forecast period. India's expanding space capabilities in the Asia-Pacific region, such as satellite launches and interplanetary missions, call for efficient space traffic management. The nation has been making significant investments in infrastructure for space situational awareness.
Europe is estimated to hold a significant share of the space traffic management market over the forecast period. Due to strong client demand, the space traffic management market in Europe is growing quickly, with Germany, France, and the UK.
Major key players in the space traffic management market include Space Machines Company, Ananth Technologies, Digantara, Neuraspace, Lockheed Martin, Saab AB, Northrop Grumman, Raytheon Technologies, BAE Systems plc, Thales Group, L3Harris Technologies, Inc., Airbus Group, Kayhan Space, Boeing Company, and Others.
Recent Developments
- In April 2024, Neuraspace, a European-born global leader in space traffic management (STM), launched two new tiers to its end-to-end STM platform: the subscription-based PRO tier and SYNC, which is available for free. A novel real-time and cooperative interaction between satellite operators is featured in both layers, which are software-as-a-service (SaaS) based.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the space traffic management market based on the below-mentioned segments:
Global Space Traffic Management Market, By Traffic Type
- Launch Vehicles
- Satellites
- Others
Global Space Traffic Management Market, By Orbit Type
- Geostationary orbit (GEO)
- Low Earth orbit (LEO)
- Medium Earth orbit (MEO)
Global Space Traffic Management Market, By Application
- Space Situational Awareness
- Space Debris Remediation
- Space Orbit Management
- Launch Vehicle Operations
- Others
Global Space Traffic Management Market, By End User
- Civil and Government
- Commercial
- Military
Global Space Traffic Management Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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