At 5.0% CAGR, the Europe Space Situational Awareness (SSA) Market is projected to be worth US$ 507.46 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Europe space situational awareness (SSA) market was valued at US$ 379.50 million in 2022 and is expected to reach US$ 507.46 million by 2028, registering a CAGR of 5.0 % from 2022 to 2028. Increasing number of objects launches into space and rising amount of space debris are the critical factors attributed to the Europe space situational awareness (SSA) market expansion.

All non-functional artificial materials orbiting the Earth at different altitudes can be termed space debris. Their size can range from less than a centimeter to a two-story building. It can include rocket body parts, fragmentation debris, refuse created during crewed missions, exhaust products from rockets, and defunct satellites. A majority of such debris orbit the Earth at an average speed of above 26,000 km per hour in Low Earth Orbits (LEO) and thus pose a severe threat of collision for functional space assets. Such threats increase with each rocket launch for LEO and deep space. Growing collision threats of space objects is a persistent problem for safe and sustainable use of outer space. These threats restrict unhindered access to space and prompt relevant parties to take necessary steps to mitigate risk. In November 2021, the Russian military conducted an anti-satellite test (ASAT) and blew up its defunct Cosmos 1408 satellite (which was launched in 1982) with a Nudol missile. Immediately after the blast, Russian astronauts aboard the International Space Station had to take preventive measures to avoid being struck by debris from the satellite, as the International Space Station was supposedly reasonably close to the satellite. In June 2022, International Space Station again had to undertake a collision avoidance maneuver (CAM) to avoid the orbital debris from the destroyed satellite. An uncrewed Progress 81 cargo ship was used by Russia's space agency Roscosmos to move the space station from the path of the debris. In 2021, ISRO carried out 19 CAMs, compared to 12 and 8 CAMs in 2020 and 2019, respectively.

In 2021, Space Track reported four on-orbit breakup events generating 150 fragment debris and two collision events producing 942 objects, including that from the Russian ASAT test. These orbiting space debris threaten about 3,000 functioning satellites presently in orbit, used for modern critical communication and other purposes. Any damage, even minor, to such space assets can have cascading impacts on many vital systems, including communication, transportation, time scheduling, and critical defense-related aspects. Many state-of-the-art defense technologies such as guided missiles, drones, intelligence data collections, encrypted communications, and navigation would be limited or can become inoperable with defunct satellite systems. It is thus crucial to analyze the comparative approach of all space objects to detect collision threats well in advance. SSA deals with the thorough knowledge of the space environment, assessment of any threats to space activities, and implementing necessary mitigation measures to safeguard the functional space assets. It consequently plays a crucial role in ensuring safe and sustainable space activities complying with domestic and international guidelines, standards, and other norms. Owing to the critical functionality of SSA and the rising importance of satellites, the Europe space situational awareness (SSA) market is positively impacted by the increasing amount of space debris. This is expected to drive the Europe space situational awareness (SSA) market during the forecast period.

On the contrary, environmental concerns involving satellite launch hurdles the growth of Europe space situational awareness (SSA) market. 

Based on offering, the Europe space situational awareness (SSA) market is bifurcated into software and services. The services segment held 69.4% market share in 2022, amassing US$ 263.47 million. It is projected to garner US$ 357.27 million by 2028 to expand at 5.2% CAGR during 2022–2028.

Based on object, the Europe space situational awareness (SSA) market is categorized into mission-related debris, rocket bodies, fragmentation debris, functional spacecraft, and non-functional spacecraft. The fragmentation debris segment held 28.8% market share in 2022, amassing US$ 109.27 million. It is projected to garner US$ 144.38 million by 2028 to expand at 4.8% CAGR during 2022–2028.

Based on end user, the Europe space situational awareness (SSA) market is bifurcated into commercial and government & military. The government & military segment held 69.0% market share in 2022, amassing US$ 261.72 million. It is projected to garner US$ 342.33 million by 2028 to expand at 4.6% CAGR during 2022–2028.

Based on orbit range, the Europe space situational awareness (SSA) market is bifurcated into deep space and near earth. The near earth segment held 72.4% share of Europe space situational awareness (SSA) market in 2022, amassing US$ 189.59 million. It is projected to garner US$ 241.91 million by 2028 to expand at 4.1% CAGR during 2022–2028.

Based on country, the Europe space situational awareness (SSA) market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe.  Our regional analysis states that Russia captured 29.6% share of Europe space situational awareness (SSA) market in 2022. It was assessed at US$ 112.36 million in 2022 and is likely to hit US$ 142.50 million by 2028, exhibiting a CAGR of 4.0% during the forecast period.            

Key players dominating the Europe space situational awareness (SSA) market are Ansys Inc; GMV Innovating Solutions SL; L3Harris Technologies Inc.; Kratos Defense and Security Solutions Inc.; Lockheed Martin Corp; Parsons Corp; and Belcan LLC among others.

• In Feb 2021, L3HARRIS TECHNOLOGIES AWARDED SECOND YEAR OF SPACE OBJECT-TRACKING MODERNIZATION CONTRACT.
• In April 2021, German Space Agency Selected Lockheed Martin ISpace System.

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