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Space Debris Monitoring And Removal Market Anticipated To Witness Robust Growth, Surpassing $1.75 Billion By 2029
Space Debris Monitoring And Removal Market
What Is the Current Space Debris Monitoring And Removal Market Size and Its Estimated Growth Rate?
The market size of the space debris monitoring and removal industry has seen robust growth in previous years. The forecasts reveal an increase from $1.21 billion in 2024 to $1.32 billion in 2025, marking a compound annual growth rate (CAGR) of 8.9%. This historical growth can be linked to several factors including the increased number of satellites, spacecraft collisions, international treaties, threats to space assets, sustainability in space, and commercial gains.
The market for monitoring and removal of space debris is predicted to witness substantial expansion in the forthcoming years. The market worth is projected to escalate to $1.75 billion by 2029, with a compounded annual growth rate (CAGR) of 7.4%. This surge in growth during the forecasted timeline is due to the sustained deployment of satellites, swift expansion of mega constellations, the rise of space tourism and commercial space initiatives, regulatory advancements, and worldwide space governance. The forecasted timeline will also see significant trends like the increasing necessity for space situational consciousness, progress in satellite constellations, the advent of automated debris elimination technologies, the incorporation of commercial solutions, and rapid technological advancements.
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How Are Emerging Segments Shaping the Space Debris Monitoring And Removal Market Landscape?
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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Which Growth Factors Are Influencing Space Debris Monitoring And Removal Market Expansion?
The escalating count of satellite launches is anticipated to fuel the expansion of the space debris monitoring and removal market in the future. Launch vehicles or rockets are employed to dispatch artificial satellites into space, facilitating communication, earth observation, and scientific research. The surge in satellite launches finds its driving forces in the increasing demand for global connectivity, observation of the planet, scientific studies, commercial uses, and an amplified curiosity in space exploration. By identifying and tracing debris objects that could potentially collide with satellites during launch and deployment, space debris monitoring delivers crucial assistance to satellite operators and launch providers. Furthermore, space debris removal aims at diminishing the bulk of debris in orbit, thereby lessening the chances of hitting operational satellites. For example, Jonathan's Space Report, a researcher for the US-based space program reported that in January 2023, there were 186 successful international launches of defense-related satellites in 2022, up from 146 in 2021. In addition to that, in 2022, the US endeavored to launch 78 defense-related satellites and succeeded in 72 cases while China succeeded in launching 62 out of the planned 64 satellites. Therefore, the rising number of satellite launches is promoting the growth of the space debris monitoring and removal market.
Who Are the Dominant Players Across Different Space Debris Monitoring And Removal Market Segments?
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
What Space Debris Monitoring And Removal Market Trends Are Gaining Traction Across Different Segments?
The primary players within the field of space debris monitoring and removal are endeavoring to innovate, specifically focusing on the introduction and implementation of commercial debris inspection demonstration satellites. The goal of these new creations is to promote safer space missions and intensify the understanding of space situation by efficiently managing and observing space rubbish. In a major breakthrough in this field, Astroscale Japan Inc., an aerospace company based in Japan, launched the first global debris inspection spacecraft named ADRAS-J in February 2024. The ADRAS-J mission made global history as the initial attempt to safely approach, inspect, and analyze a significant piece of space debris using Rendezvous and Proximity Operations (RPO) potential. The purpose of the ADRAS-J is to associate with a Japanese H2A upper-stage rocket body, conduct proximity operations, and capture images to study the movement and the structural state of the rocket body. This mission will demonstrate the most intricate RPO abilities necessary for on-orbit services, which include executing proximity operations, capturing images and evaluating both movement and structure of the rocket body.
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Which Geographic Regions Are Expected to Dominate the Space Debris Monitoring And Removal Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Space Debris Monitoring And Removal Market?
2. What is the CAGR expected in the Space Debris Monitoring And Removal Market?
3. What Are the Key Innovations Transforming the Space Debris Monitoring And Removal Industry?
4. Which Region Is Leading the Space Debris Monitoring And Removal Market?
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