Space Traffic Management Market : Accelerated Growth and Projections to Reach USD 22.4 Billion by 2030 with a 7.1% CAGR

As per the report published by Allied Market Research, the global space traffic management market was accounted for $11.9 billion in 2020, and is projected to garner $22.4 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A16155

The space traffic management industry holds a great potential in the near future to the rise in global launch activates. Initiative taken by major companies, public consortium and government authorities to place satellite constellation in low Earth orbit in efforts to establish a comprehensive communication network will notably raise the demand of space traffic management system. Reducing the space debris present in outer-space and effectively maneuvering operational satellite to ensure safe operations will become primary concern, supporting business opportunities within the market.

Introduction of satellite life extension vehicles, increase in number of space debris and overlapping space orbits, and space-based connectivity initiative have boosted the growth of the global space traffic management market. In addition, the reduced launch cost due to advent of re-usable rockets and adoption of smallsats and cubeasts would open new opportunities in the future.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/space-traffic-management-market/purchase-options

Factors such as space based connectivity, satellite life vehicle extension programs, and internal co-operation between nations to agree on data sharing polices are some of the primary drivers supporting the business opportunities over coming years. Initiatives taken by several regulatory bodies such as European Commission, United Nations Office For Outer Space Affairs (UNOOSA) and other U.S. federal departments to increase transparency about space operations across nations considering outer space a limited resource will promote orientation of space traffic management system. Companies such as Lockheed Martin, L3Harris and Airbus among other have started offering innovative solution to address the rising threat of space debris and cater the consumer demand of effective space operations.

Based on application, the communication segment held the largest share in 2020, contributing to nearly half of the market. Furthermore, the segment is estimated to register the highest CAGR of 7.79% from 2021 to 2030. The report includes analysis of other segments such as earth observation, navigation, global positioning systems, and surveillance, technology development and education, and others.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Kayhan Space, Northrop Grumman, Saab AB, L3Harris Technologies, Inc., BAE Systems plc, Lockheed Martin, Airbus Group, Raytheon Technologies, Boeing Company, Thales Group

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A16155

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The global space traffic management market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is anticipated to register the highest CAGR of 8.4% during the forecast period.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By application, the communication segment leads the market during the forecast period.

By end use, the commercial segment leads the space traffic management market during the forecast period.

By orbit, LEO segment leads the market during the forecast period.

By activity, the space debris remediation is forecasted to witness highest growth rate during the forecast period.

Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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Aircraft Micro Turbine Engine Market - https://www.globenewswire.com/news-release/2021/12/09/2348772/0/en/Aircraft-Micro-Turbine-Engine-Market-to-Generate-75-9-Million-in-2030-Allied-Market-Research.html

Aerial Imaging Market - https://www.prnewswire.com/news-releases/aerial-imaging-market-to-reach-8-52-bn-globally-by-2030-at-14-2-cagr-allied-market-research-301467316.html

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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