How Has the Space Debris Monitoring And Removal Market Size Evolved in Recent Years?
The space debris monitoring and removal market has seen considerable growth due to a variety of factors.
• In recent times, the market size of space debris monitoring and removal has experienced considerable growth. The market value is forecast to increase from $1.21 billion in 2024 to $1.32 billion in 2025, marking a compound annual growth rate (CAGR) of 8.9%.
Several factors such as the increase in number of satellites, incidents of spacecraft collisions, global agreements, threats to space assets, the goal of space sustainability, and commercial ventures are responsible for the growth observed during the historical period.
What are the Market Size and Expected Growth Rates for the Space Debris Monitoring And Removal Market?
The space debris monitoring and removal market is expected to maintain its strong growth trajectory in upcoming years.
• The market for monitoring and removal of space debris is predicted to witness a significant increase in the coming years. By 2029, the market is projected to reach $1.75 billion, growing at a Compound Annual Growth Rate (CAGR) of 7.4%.
This anticipated expansion during the forecast period is credited to the sustained deployment of satellites, the quick surge of mega constellations, advancements in space tourism and commercial space activities, regulatory evolutions, and global space governance. The forecast period will also see the rise of key trends such as a heightened need for space situational awareness, construction of satellite constellations, the advent of automated debris removal technologies, incorporation of commercial solutions, and swift technological innovation.
Which Key Drivers Are Propelling The Space Debris Monitoring And Removal Market's Growth?
The surge in satellite launches could fuel the advancement of the space debris monitoring and removal market in the future. The process of satellite launches includes the use of launch vehicles or rockets to dispatch artificial satellites into space for a variety of purposes, such as communication, observation of Earth, and academic exploration. The escalating number of such launches is sparked by the rising demand for worldwide connectivity, earth monitoring, academic studies, commercial utilization, and an expanding curiosity in space expeditions. The monitoring of space debris aids satellite operators and launch providers in detecting and tracking debris objects which could potentially be a threat to satellites during launch and deployment. Moreover, the endeavors to remove space debris are aimed at diminishing the overall amount of orbital debris, hence reducing the chances of striking operational satellites. As an example, Jonathan's Space Report, a renowned American space program researcher indicated that in January 2023, there were 186 global launches of defense-related satellites in 2022, a noticeable increase from 146 in 2021. Additionally, the US attempted the launch of 78 such satellites in 2022, achieving success with 72, while China attempted 64 launches, with 62 successfully entering orbit. Consequently, the rising number of satellite launches is fuelling the evolution of the space debris monitoring and removal industry.
What Are The Key Segments Within The Global Space Debris Monitoring And Removal Market?
The space debris monitoring and removal market covered in this report is segmented –
1) By Debris Size Range: 1mm To 1cm Debris Size, 1cm To 10cm Debris Size, Greater Than 10 cm
2) Orbit Type: Low Earth Orbit (LEO), Medium-Earth Orbit (MEO), Geostationary Earth Orbit (GEO)
3) By End User: Commercial, Defense
Subsegments:
1) By 1mm to 1cm Debris Size: Micrometeoroid and Orbital Debris (MMOD) Monitoring, Small Object Tracking and Removal Technologies
2) By 1cm to 10cm Debris Size: Small-Scale Orbital Debris Removal, Laser Ablation for Debris Removal, Tether-based Debris Removal Systems
3) By Greater Than 10 cm Debris Size: Large Object Tracking and Removal, Robotic Capture and De-orbiting Solutions, Net or Harpoon-based Debris Capture Systems
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How Are Emerging Trends Reshaping The Dynamics Of The Space Debris Monitoring And Removal Market?
Leading businesses in the space debris monitoring and removal market are prioritizing the creation of ground-breaking solutions like commercial debris inspection demonstration satellites that are designed to boost space situational awareness and encourage sustainable operations in space. These satellites are programmed to present high-level technologies capable of managing and monitoring space debris, thereby promoting space sustainability and safer orbit environments. An illustration of this is the world's initial debris inspection spacecraft, ADRAS-J, launched by Astroscale Japan Inc., a Japanese aerospace firm, in February 2024. The ADRAS-J mission represents the world's premier endeavor to safely approach, analyze, and monitor a significant piece of existing space debris utilizing RPO (Rendezvous and Proximity Operations) capabilities. ADRAS-J is engineered to link up with a Japanese H2A upper-stage rocket body, conduct proximity operations, and gather photos to study the rocket body's movement and structural integrity. The mission aims to display complex RPO capabilities essential for services in orbit. It exemplifies challenging RPO capabilities vital for orbit services by demonstrating proximity operations, image collection, and evaluating the rocket body’s movement and structural health.
Who Are the Key Players In The Space Debris Monitoring And Removal Market?
Major companies operating in the space debris monitoring and removal market are:
• Raytheon Technologies
• The Boeing Company
• Lockheed Martin Corporation
• Airbus SE
• Mitsubishi Electric Corporation
• Northrop Grumman Corporation
• British Aerospace systems
• L3Harris Technologies Inc.
• IHI Corporation
• Teledyne Technologies
• Thales Alenia Space
• Ball Aerospace & Technologies Corp.
• Maxar Technologies Inc.
• Japan Aerospace Exploration Agency
• The Aerospace Corporation
• Kratos Defense & Security Solutions
• Occupational Health Branch
• Electro Optic Systems Holdings Limited
• Rocket Lab Limited
• Rüstungs Unternehmen AG
• Surrey Satellite Technology Limited
• ClearSpace SA
• Tethers Unlimited
• Kongsberg Satellite Services
What Are The Regional Insights Into The Space Debris Monitoring And Removal Market?
North America was the largest region in the space debris monitoring and removal market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the space debris monitoring and removal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
