Space Traffic Management Market Analysis, Growth Trends And Opportunities 2033

The new report published by The Business Research Company, titled ""Space Traffic Management Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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

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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.

Contents of the report:
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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