Space Traffic Management Global Market Research Insights with Upcoming Trends Segmentation, Opportunities and Forecast to 2033 | Thales Group, Saab AB, The Boeing Company, Airbus Group, BAE Systems PLC

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Space Traffic Management Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $24.28 billion In 2028 At A CAGR Of 10.5% :

The space traffic management market size has grown rapidly in recent years. It will grow from $14.67 billion in 2023 to $16.28 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to growing need for improved safety and efficiency in space operations , increased number of spacecrafts , congested environment , increased satellite constellations, military and national security..

The space traffic management market size is expected to see rapid growth in the next few years. It will grow to $24.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to commercial space growth, small satellite revolution, space situational awareness, the development of regulatory frameworks, growing demand for satellite-based services, increasing space exploration missions. Major trends in the forecast period include enhanced space situational awareness (ssa), integration with air traffic management (atm), public awareness and education, increasing space traffic density, autonomous collision avoidance and maneuvering..

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Space Traffic Management Market Major Segments
The space traffic management market covered in this report is segmented -
1) By Activity: Space Situational Awareness, Space Debris Remediation, Space Orbit Management, Launch Vehicle Operation
2) By Orbit: LEO, MEO And Elliptical, GEO
3) By Application: Communication, Earth Observation, Navigation, Global Positioning System And Surveillance, Technology Development And Education, Other Applications
4) By End Use: Civil And Government, Commercial, Military

Key Driver - Growing Space Debris Threat Drives Space Traffic Management Market

The rising threat of space debris is expected to drive the growth of the space traffic management market going forward. Space debris refers to the non-functional remains of artificial objects in space, particularly those revolving around the Earth's orbit. Space traffic management helps in monitoring and tracking functional and non-functional satellites, avoiding collisions with space debris and creating less debris, further paving a smooth path for satellites. For instance, according to an article published in May 2021 by The National Aeronautics and Space Administration, an independent agency of the U.S. federal government responsible for the civil space program, more than 27,000 pieces of orbital debris are tracked by the Department of Defense's global Space Surveillance Network (SSN) sensors. Thus, the rising threat of space debris is driving the space traffic management market.

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Prominent Trend - Advancements In Space Debris Monitoring Platforms Enhance Space Traffic Management

Advancement in space debris monitoring platforms is a key trend gaining popularity in the space traffic management market. Major companies operating in the space traffic management market are developing space debris monitoring platforms to strengthen their position in the space traffic management market. For instance, in March 2022, Neuraspace, a Portugal-based space start-up developed an advanced AI-powered space debris monitoring and satellite collision avoidance platform, to enable safe and sustainable in-orbit operations.

Space Traffic Management Market Players
Major companies operating in the space traffic management market include Thales Group, L3Harris Technologies Inc., The Boeing Company, Airbus Group, BAE Systems plc, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Kayhan Space, Exolaunch GmbH, HyImpulse Technologies GmbH, Slingshot Aerospace, Altitude Angel, Saber Astronautics LLC, Juniper Networks, Starfish Space, Creare Inc., Neuraspace, Transmetrics AD, Voyage Control, OKAPI: Orbits, COMSPOC Corp., ExoAnalytic Solutions, Kellogg Brown & Root Inc., NorthStar Earth & Space Inc., Space Data Association, Altius Space Machines, Analytical Graphics Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the space traffic management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the space traffic management market share during the forecast period. The regions covered in the space traffic management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Space Traffic Management Market Report Structure
3. Space Traffic Management Market Trends And Strategies
4. Space Traffic Management Market - Macro Economic Scenario
5. Space Traffic Management Market Size And Growth
…..
27. Space Traffic Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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