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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Space Situational Awareness (SSA) market. Market segmentation includes Offering (Services, and Software); Object (Fragmentation Debris, Non-Functional Spacecrafts, Rocket Bodies, Functional Spacecrafts, and Other Objects); End-Use (Government & Military, and Commercial).

Find Out More About Regions, Brands, Dominant, Active & Niche Companies Covered in the Report

24 November 7:18 a.m., Silicon Valley, California - According to the new market research report, the global market for Space Situational Awareness (SSA) is projected to grow at a CAGR of 4.0% to reach US$1.5 billion by 2027, driven by increasing congestion of the space coupled with strong focus of public and private agencies on space situational awareness. The global Space Situational Awareness market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Services offering segment analyzed and sized in this study, is forecast to grow at over 4.2% and reach a market size of US$1.1 billion by the end of the analysis period. The United States is forecast to readjust to a 3.8% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$83.9 million growing at a CAGR of 3.8% over the next couple of years. In addition, over US$112.6 million worth of projected demand in the region will come from Rest of European markets. In Japan, the Fragmentation Debris object segment will reach a market size of US$45.8 million by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Government & Military end-use segment in this country against this backdrop will grow at a CAGR of 5.5% over the next couple of years to create an addressable market opportunity worth US$105.6 million by the year 2027.

Space situational awareness (SSA) has been rapidly emerging as a growth market owing to the increasingly crowded space attributed to the presence of numerous man-made and natural components or objects. The concept of SSA refers to monitoring and gaining knowledge about particle and energy fluxes in the near-Earth space, focusing on the past, present, and future state of space components. SSA encompasses services like space tracking & surveillance, space weather and near-Earth object detection services. These services are intended for tracking and detecting rocket bodies, mission-related debris, fragmentation debris and functional or non-functional spacecraft for avoiding damage to functional satellites or deterring attack on space assets. In the recent years, the domain has witnessed increasing efforts by Europe, Russia and other countries to develop, expand and rebuild their systems. The market is gaining from increasing entry of commercial SSA companies that offer SSA services and data to serve satellite operators. The global SSA market is witnessing robust gains for the space tracking & surveillance services owing to the risk associated with space debris, rising space traffic and increasing number of space exploration projects. The other prominent factors behind the healthy growth of the market include increasing focus on small satellites, adoption of lower earth orbit (LEO)-based services, and rising attention on the commercial on-orbit satellite activity. The increasing launch of small satellites is expected to significantly bolster the SSA market. On the flip side, stringent regulations and standards specified by space regulatory authorities are inhibiting the market expansion. However, rising concerns over the continuously increasing risk of collisions in the space, especially from micro and small-sized debris, are likely to present lucrative revenue-generating opportunities to market participants. In the coming years, the global SSA market is bound to experience strong adoption of SSA services and associated software including space debris end-to-end services and conjunction analysis.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 2782. Among this pool, 501 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 83 unique participations, a total of 37 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Lockheed Martin Corporation
Kratos Defense & Security Solutions, Inc.
GMV Innovating Solutions SL
Analytical Graphics, Inc.
NorStar Space Data Inc.
Polaris Alpha LLC.
Elecnor Deimos Group
Etamax Space GmbH
ExoAnalytic Solutions, Inc.
GlobVision Inc.
Solers, Inc.

Segments Covered in the Report -
Offering (Services, Software)
Object (Fragmentation Debris, Non-Functional Spacecrafts, Rocket Bodies, Functional Spacecrafts, Other Objects)
End-Use (Government & Military, Commercial)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
Rest of World.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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