Growing Space Debris Threat Drives Space Traffic Management Market: Strengthening the Growth Trajectory of the Space Traffic Management Market

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What Is the Expected CAGR for the Space Traffic Management Market Through 2025?
There has been a notable increase in the market size of space traffic management in the past few years. It is expected to expand from $16.12 billion in 2024 to reach $17.73 billion in 2025, representing a compound annual growth rate (CAGR) of 10.0%. This expansion during the historic period is caused by the arising demands for enhanced safety and operational efficiency in space, the surge in the quantity of spacecraft, a crowded environment, the rise of satellite constellations and national security and military concerns.

What's the Projected Size of the Global Space Traffic Management Market by 2029?
The market size for space traffic management is projected to experience robust growth in the forthcoming years. It is predicted to escalate to $26.15 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 10.2%. This expansion during the prediction period can be credited to factors such as commercial space development, the revolution of small satellites, space situational cognizance, the establishment of regulatory structures, a rising requirement for satellite-oriented services, and escalating space exploration initiatives. The forecast period also observes significant trends like improved space situational awareness (ssa), amalgamation with air traffic management (atm), increased public cognizance and pedagogy, growing space traffic density, and independent collision evasion and maneuvering.

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Top Growth Drivers in the Space Traffic Management Industry: What's Accelerating the Market?
The anticipated increase in space debris is likely to be a propelling factor for the expansion of the space traffic management market. Space debris encompasses the non-operational remains of man-made objects in outer space, specifically those in the Earth's orbit. The management of space traffic plays a vital role in both monitoring operational and non-operational satellites and preventing collisions with space debris. Additionally, it aids in reducing the creation of more debris, hence providing a clearer route for satellites. For instance, a September 2024 report from the UK government, as featured on a UK-based information website, detailed statistical models estimating around one million pieces of space debris ranging from 1 cm to 10 cm, and an additional shocking 130 million pieces measuring between 1 mm and 1 cm. Of these, about 36,500 objects larger than 10 cm are presently under observation, with more than 35,000 already logged. Therefore, the escalating threat posed by space debris is steering the growth of the space traffic management market.

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What Trends Will Shape the Space Traffic Management Market Through 2029 and Beyond?
The progression in space junk observation platforms is becoming a popular trend in the space traffic management market. Leading companies working in the space traffic management market are creating platforms to monitor space debris, reinforcing their standing in the market. For example, in March 2022, Neuraspace, a Portuguese space startup, constructed an advanced, AI-driven platform for space debris monitoring and satellite collision prevention, facilitating safe and sustainable operations in orbit.

What Are the Main Segments in the Space Traffic Management Market?
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

Subsegments:
1) By Space Situational Awareness: Collision Prediction and Avoidance, Tracking and Monitoring of Space Objects, Conjunction Assessment and Reporting
2) By Space Debris Remediation: Active Debris Removal, Debris Mitigation Technologies, Deorbiting Services
3) By Space Orbit Management: Orbital Slot Allocation, Satellite Positioning and Maneuvering, Orbit Deconfliction
4) By Launch Vehicle Operation: Launch Scheduling and Coordination, Traffic Management for Launch and Re-entry, Range Safety and Monitoring

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Which Top Companies are Driving Growth in the Space Traffic Management Market?
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.

Which Regions Will Dominate the Space Traffic Management Market Through 2029?
North America was the largest region in the space traffic management market in 2024. 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.

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