“Space situational awareness market to demonstrate promising growth over the forecast period,” says Visiongain report
06 September 2019
Visiongain has launched a new Aerospace Report Space Situational Awareness Market Report 2019-2029 Forecasts by Offering(Space Weather Services, Near earth object detection services, Space Surveillance and tracking Services, and Software), end-user (government & military, commercial), Object (Mission-Related Debris, Rocket Bodies Fragmentation Debris, Functional Spacecraft, Non-Functional Spacecraft, and Others) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global Space situational awareness market is expected to demonstrate promising growth over the forecast period. Space situational awareness is defined as the process of delivering timely and accurate information regarding the space environment and particular hazards to both in orbit and ground infrastructure. The rising dependence on space in regards to critical national security issues and several economic and societal services and infrastructure is expected to increase the demand for SSA activities.
The space situational awareness market primarily includes the demand analysis for SSA sensors, software products, and services. Currently, national security-oriented organizations are the largest end-users of SSA related products and services and are expected to dominate the market throughout the forecast period. Currently, the cost of SSA products is high which makes difficult for countries to develop and use their capabilities for collecting SSA information. However, our research shows that the increase in the number of applications of SSA product particularly in the private sector is anticipated to lower the cost of SSA products. Currently, the U.S. has the most develop SSA capabilities and many countries rely on the U.S. for space-related information. However, lowering the cost of SSA products will decrease the reliance of countries on the U.S. as they are likely to develop and deploy their systems.
The key companies operating in the Space situational awareness market are Vision Engineering Solutions, Exoanalytic Solutions, Schafer, Etamax Space, Kratos Defense & Security Solutions, Analytical Graphics, Lockheed Martin, Sky and Space, Norstar Space Data, Polaris Alpha, Solers, Elecnor Deimos Group, Spacenav, GMV Innovating Solutions, Applied Defense Solutions, and Globvision, and Harris. These companies are taking various strategic initiatives such as new product development, contracts, acquisitions, collaborations, expansions, and agreements so as to increase their presence in the global market and gain a competitive advantage.
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