Space Traffic Management Market 2022 | Key Business Strategies, Leading Industry Players, Regional Growth, Demand, Share Till 2030

Astute Analytica has released new research on the worldwide Space Traffic Management Market that provides a thorough explanation of a number of market analysis techniques, including SWOT analysis and five-point analysis. The market report also includes an in-depth analysis of several growth plans and initiatives to broaden the business's horizons on a regional and international scale. It gives readers a thorough explanation of all the market difficulties and development prospects related to the industry.

Along with significant data and other pertinent information, the study evaluates the competitive landscape and global market growth trend based on the business overview and helps businesses and investment organizations better grasp the market's growth characteristics.

The Global Space Traffic Management Market size was US$ 14,053.2 million in 2021 and forecast to grow to US$ 13,121.4 million by 2030, registering a compound annual growth rate (CAGR) of 8.2% during the forecast period from 2022 to 2030.

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Regional Analysis:

North America is expected to grow at a moderate rate, closely followed by Europe due to the well-developed infrastructure of these regions. Furthermore, the presence of various safety standards such as quiet operation, low emission, and others will contribute to the growth of the market.

The presence of developing economies such as India, China, etc., will drive the industry forward. It is majorly attributable to the growing urbanization and industrialization in the region. Further, the availability of cheap labor and raw materials has increased factory setup in the region. According to Invest India, the Parliament passed a bill with the aim to develop National Bank for Financing Infrastructure and Development (NaBFID) in order to invest in infrastructure projects in the country. Moreover, the same source estimates that infrastructure activities held a 13% share of the total FDI inflows of US$ 81.72 billion in In FY21.

COVID-19 Impact

Following the coronavirus pandemic, the market experienced a sharp decline in terms of revenue. The COVID-19 pandemic forced the imposition of a lockdown to reduce infection among the population across countries. Moreover, manufacturing companies rely heavily on the supply of raw materials and components from other countries around the world, which was halted during the pandemic. Thus, the negatively affected the industry.

Major Key Players in the Space Traffic Management Market are:

Boeing Company
Lockheed Martin
Raytheon Technologies
Airbus Group
Other Prominent Players
Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Space Traffic Management Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market's overall size.

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Segmentation Overview

By Component

Hardware
Sensors
Cameras
Others
Solution
Traffic Analytics
Smart Surveillance
Others
Services
Space Monitoring & Tracking Service
Space Data Management Service
Space Operation Service
Space Warning Service
Space Conflict Management Service
By Traffic Type

Launch Vehicles
Satellites
Others
By Orbit Type

Geostationary orbit (GEO)
Low Earth orbit (LEO)
Medium Earth orbit (MEO)
By Application

Space Situational Awareness
Space Weather
Orbiting Space Objects
Natural Space Debris
Space Debris Remediation
Low-Cost Active Debris Removal (LCADR)
Space Debris Removal
Space Debris Monitoring
On-Orbit Servicing
Tethered-Net Removal Technology
Space Orbit Management
Launch Vehicle Operations
Others
By Industry

Commercial
Military
By Region

North America
Europe
Asia Pacific
Middle East
Saudi Arabia
Iran
Israel
Jordan
Iraq
Kuwait
Qatar
UAE
Turkey
Rest of Middle East
South America
North Africa
Algeria
Egypt
Libya
Morocco
Rest of North Africa
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About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

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This release was published on openPR.