Press release
Space Debris Monitoring And Removal Market Poised for 7.4 % Growth, Set to Hit $87.63 Billion by 2029
Space Debris Monitoring And Removal Market
The space debris monitoring and removal market has grown steadily in recent years. It will grow from $1.21 billion in 2024 to $1.32 billion in 2025, at a CAGR of 8.9%. The expansion is attributed to the proliferation of satellites, spacecraft collisions, international agreements, space asset risks, space sustainability efforts, and commercial interests.
The space debris monitoring and removal market is expected to experience strong growth, reaching $1.75 billion by 2029 at a CAGR of 7.4%. Growth is attributed to continued satellite deployments, rapid development of mega constellations, space tourism and commercial space activities, evolving regulations, and global space governance. Key trends include rising demand for space situational awareness, development of satellite constellations, the emergence of automated debris removal technologies, commercial solution integration, and rapid technological advancements.
What Are the Key Drivers Behind the Growth of the Space Debris Monitoring And Removal Market?
The surge in satellite launches is expected to drive the space debris monitoring and removal market. Satellite launches involve deploying artificial satellites for purposes such as communication, Earth observation, and scientific research. The rise in satellite launches stems from growing demand for global connectivity, Earth monitoring, scientific exploration, and commercial applications. Space debris monitoring assists satellite operators in tracking debris that could pose collision risks, while debris removal efforts aim to maintain a safer orbital environment. For example, in January 2023, Jonathan's Space Report, a U.S.-based space program researcher, noted that 186 defense-related satellite launches occurred internationally in 2022, up from 146 in 2021. The U.S. attempted to launch 78 defense-related satellites in 2022, successfully deploying 72, while China launched 64 satellites, with 62 reaching orbit. Thus, the increasing number of satellite launches is propelling the space debris monitoring and removal market.
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Who Are the Major Industry Players Fueling Space Debris Monitoring And Removal Market Expansion?
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
Which Key Developments Are Influencing the Space Debris Monitoring And Removal Market?
Leading companies in the space debris monitoring and removal market are developing innovative solutions, such as commercial debris inspection satellites, to enhance space situational awareness and support sustainable space operations. These satellites showcase advanced technologies for monitoring and managing space debris, ensuring safer orbital environments. For instance, in February 2024, Astroscale Japan Inc., a Japan-based aerospace firm, launched ADRAS-J, the world's first debris inspection spacecraft. The ADRAS-J mission is the first attempt to safely approach and survey existing space debris using Rendezvous and Proximity Operations (RPO) capabilities. It is designed to interact with a Japanese H2A upper-stage rocket body, capture images, and assess its structural condition. This mission demonstrates complex RPO techniques essential for future on-orbit servicing and space sustainability.
How Is the Segmentation of the Space Debris Monitoring And Removal Market Defined?
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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What Is the Leading Region in 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.
What Is Covered In The Space Debris Monitoring And Removal Global Market Report?
- Market Size Analysis: Analyze the Space Debris Monitoring And Removal Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Space Debris Monitoring And Removal Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Space Debris Monitoring And Removal Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Space Debris Monitoring And Removal Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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