Soaring Demand Set to Propel Space Debris Removal Market to $0.55 Billion by 2029

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts

What Is the Expected CAGR for the Space Debris Removal Market Through 2025?
The market for space debris removal has witnessed substantial expansion in the past few years. It is projected to escalate from $0.1 billion in 2024 to $0.15 billion in 2025, with a compound annual growth rate (CAGR) of 44.7%. The surge during this past period can be linked to the rising need for secure and sustainable space environments, escalated concerns about space sustainability, an increased reliance on space-based services, safety worries about key assets, and a boom in commercial space activities.

What's the Projected Size of the Global Space Debris Removal Market by 2029?
Expectations are high for significant expansion in the space debris removal market in the forthcoming years. By 2029, the market is projected to soar to $0.55 billion with an impressive compound annual growth rate (CAGR) of 39.1%. The forecasted growth is largely credited to an uptick in satellite deployment, heightened consciousness about space sustainability, the proliferation of satellite mega constellations, and an upswing in satellite launches, as well as a surge in space exploration programs. Notable trends anticipated during this forecast period encompass the creation of novel technologies and approaches, strategic partnerships, and collaborations among firms in the space debris removal sector, groundbreaking enhancements in debris tracking and removal technology, progress in space technology, and endeavors in international cooperation.

View the full report here:
https://www.thebusinessresearchcompany.com/report/space-debris-removal-global-market-report

Top Growth Drivers in the Space Debris Removal Industry: What's Accelerating the Market?
Growth in the space debris removal market is anticipated to be propelled by a rise in the number of satellite launches. The process of sending artificial satellites into space using launch vehicles or rockets for various functions, such as communication, Earth surveillance, and scientific studies, is known as a satellite launch. The surge in these launches is attributed to the growing need for global connectivity, terrestrial observation, scientific exploration, and commercial usage. This is being made possible by technological advancements, cost-reductions, and heightened interest in space exploration. However, the increase in satellites also skyrockets the risk of collisions with space debris, making it necessary to avail of space debris removal services to ensure sustainability in space activities in the long run. As per Jonathan's Space Report, by a US-based space program researcher, in 2022 the international launches of defense-related satellites increased to 186 from 146 in 2021, out of which 182 were successful. The US attempted to launch 78 such satellites in 2022, 72 of which were successful, while China tried launching 64 satellites, of which 62 were able to establish their orbits. As such, the surge in satellite launches is fuelling growth in the space debris removal market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14505&type=smp

What Trends Will Shape the Space Debris Removal Market Through 2029 and Beyond?
Key industry players in the space debris removal market are heavily investing in the creation of novel solutions such as the development of commercial debris inspection demonstration satellites. This step is taken to amplify the understanding of space situations and advocate for sustainable space functions. The approach encompasses the demonstration of advanced technology features for tracking and handling space debris which aids in increasing space sustainability and cultivating secure orbital settings. An example of this would be when Astroscale Japan Inc, an aerospace company based in Japan, initiated the first-ever active debris removal task, aptly named ADRAS-J, in February 2024. The mission is designed to carefully intersect, categorize, and inspect a large existing debris piece through rendezvous and proximity operations, with the Japanese H2A upper-stage rocket body being the primary target. The mission is a display of complex RPO skills that are significant for on-orbit services, as demonstrated by proximity operation performance, image acquiring, and evaluating the movements and structural state of the rocket body.

What Are the Main Segments in the Space Debris Removal Market?
The space debris removal market covered in this report is segmented -

1) By Debris Size: 1mm To 10mm, 10mm To 100mm, Greater Than 100mm
2) By Technique: Direct Debris Removal, Indirect Debris Removal
3) By Operation: Single Technique, Multiple Technique
4) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO)
5) By End User: Commercial, Government

Subsegments:
1) By 1mm to 10mm: Small Debris Removal (Micrometeoroid and Orbital Debris), Laser-based Removal Technologies, Electrostatic or Magnetic Capture Methods
2) By 10mm to 100mm: Mid-Size Debris Capture and De-orbiting, Tether-based Debris Removal, Robotic Arm or Gripper Systems for Capture
3) By Greater Than 100mm: Large Debris Removal (e.g., defunct satellites, spent rocket stages), Harpoon or Net-based Capture Systems, Space Tug and Robotic Removal Solutions

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=14505&type=smp

Which Top Companies are Driving Growth in the Space Debris Removal Market?
Major companies operating in the space debris removal market are Lockheed Martin Corporation, Airbus SE, Northrop Grumman Corporation, Rocket Lab Limited, Astroscale Holdings Inc., Surrey Satellite Technology Limited, BlackSky Global LLC, Rogue Space Systems Corporation, Planetary Resources Inc., D-Orbit S.p.A., ClearSpace SA, LeoLabs Inc., Metrolaser Inc., Skyrora Limited, Skycorp Inc., Moon Express Inc., NorthStar Earth & Space Inc., Busek Co. Inc., TRL11 Limited, OrbitGuardians Inc., Obruta Space Solutions Inc., Space Logistics LLC, Moonshot Brands Inc., Altius Space Machines Inc., Shackleton Energy Company LLC

Which Regions Will Dominate the Space Debris Removal Market Through 2029?
Europe was the largest region in the space debris removal market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the space debris removal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14505

"This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.