The spatial situational awareness market is expected to grow from USD 1.5 billion in 2021 to USD 1.8 billion by 2026, with a CAGR of 4.6%
Situational awareness refers to tracking and surveillance of objects in Earth orbit, monitoring space weather conditions, and tracking and detecting near-Earth objects to mitigate or reduce the risk of collision.
New York, November 25, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report âSpace Situational Awareness Market by Solution, Orbital Range, End Use, Object, Capability And Region – Forecast to 2026â – https: // www .reportlinker.com / p05436670 /? utm_source = GNW
It also includes monitoring distinct activities carried out by different countries and characterizing objects, in terms of speed and type, to identify threats posed to the security of different nations. The growth of the spatial situational awareness market can be attributed to factors such as the increasing congestion of objects in space and the emphasis by government agencies and private entities on situational awareness in space. space.
The spatial situational awareness market is dominated by a few globally established players such as L3Harris Technologies (US), Lockheed Martin Corporation (US), Kratos Defense & Security Solutions, Inc. (US), Parsons Corporation (United States) and Peraton (United States), among others. These players have extended their activities to various countries, including North America, Europe, Asia-Pacific and the rest of the world. COVID-19 has affected the growth of the Space Situational Awareness market to some extent, and it varies by country. Industry experts believe that the pandemic has not affected the demand for spatial situational awareness in the commercial, government and defense sectors.
Based on the solution, the services segment is expected to account for the largest share of the spatial situational awareness market from 2021 to 2026.
Based on the solution, the services segment of the spatial situational awareness market is expected to hold the dominant market share in 2021. This is due to the growing need to expand the space weather service networks with additional capacities. , the development of SSA tools and the need for space surveillance and monitoring for the proper functioning of satellites.
In July 2021, the Space Weather Prediction Center (US) added the new model WAM-IPE to the Space Weather Prediction Center toolkit. This new model focuses on the part of the Earth’s atmosphere where many US satellites orbit and could be vulnerable to energy from the sun.
In July 2021, the US Space Force Service is continuing an Advanced Deep Space Radar Concept Program, also known as DARC. According to the service, the platform is a ground-based radar system designed to detect, track and maintain deep space guard. 24/7 objects.
It will primarily track objects in geosynchronous Earth orbit, although it can also track objects in low Earth orbit. DARC will augment the Army’s Space Surveillance Network as an additional sensor with increased capacity and capability to monitor deep space objects and provide full global coverage.
Based on orbital range, the near-Earth segment of the spatial situational awareness market is expected to account for the largest share in 2021.
Based on orbital range, the near-Earth segment is expected to dominate the spatial situational awareness market during the forecast period. drive this segment.
In March 2020, Russia built a Soyuz-2.1b carrier rocket equipped with a Fregat booster. It was successfully launched from the Plesetsk Cosmodrome carrying a Glonass-M navigation satellite in medium earth orbit. In March 2021, an undisclosed commercial customer awarded a contract to Lockheed Martin to build and deliver a payload intended to ensure knowledge of the space domain. The payload, equipped with an optical sensor, will be used for object detection and image capture from geosynchronous Earth orbit in support of efforts to maintain spatial situational awareness.
On the basis of end use, the commercial segment is expected to represent the fastest growing spatial situational awareness market from 2021 to 2026.
On the basis of end use, the commercial segment of the spatial situational awareness market is expected to grow at the highest CAGR during the forecast period. This growth is driven by investments by private actors in space research and satellite communication services, the need for real-time data on mission debris and the assessment of space traffic, and the need to monitor space. structural integrity of nuclear power plants.
The North American market is expected to contribute the largest share from 2021 to 2026 in the spatial situational awareness market
On the basis of region, North America is expected to dominate the spatial situational awareness market from 2021 to 2026. United States is a lucrative market for spatial situational awareness in the North American region.
The US government has taken various initiatives to encourage the growth of the spatial situational awareness market. For example, the US government’s space situational awareness programs focus on intelligence, surveillance, reconnaissance, environmental surveillance, and command and control.
Since the 1960s, the US military has had significant SSA capabilities, largely based on the backbone of missile warning radar. The initial impetus was the need to keep up with Soviet missiles, nuclear warheads, and space threats.
In recent years, US military operations have focused more on protecting satellites. In May 2021, Parsons Corporation was awarded a Task Order Contract by the Special Programs Directorate of the Space and Missile Systems Center (SMC / SPG) to support the Integrated Situational Awareness Solution ( ISSA), worth up to $ 185 million. It will provide SMC / SPG and its strategic partners with highly specialized services in computer engineering, space expertise, software development, scientific analysis and data analysis to develop, maintain, maintain and improve the ISSA system.
Major players in this region include L3Harris Technologies (US), Lockheed Martin Corporation (US), Kratos Defense & Security Solutions, Inc. (US), Parsons Corporation (US) and Peraton (US) United).
The bursting of the profile of the main players in the Spatial Situational Awareness market:
â¢ By type of business: level 1 – 35%, level 2 – 45% and level 3 – 20%
â¢ By designation: level C: 35%, director level: 25% and others: 40%
â¢ By region: North America: 40%, Europe: 30%, Asia-Pacific: 20% and Rest of the world: 10%
Major companies featured in the report include L3Harris Technologies (US), Lockheed Martin Corporation (US), Kratos Defense & Security Solutions, Inc. (US), Parsons Corporation (US), and Peraton (US). United), among others.
This market study covers the spatial situational awareness market in various segments and sub-segments. It aims to estimate the size and growth potential of this market across different segments based on solutions, end use, purpose, capacity, orbital range and region.
This study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies that they adopted.
Reasons to buy this report:
The report will help the market leaders / new entrants in this market with information on the closest approximations to revenue figures for the global spatial situational awareness market. This report will help stakeholders understand the competitive landscape and gain more information to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the market pulse and provides them with insights into the major market drivers, restraints, challenges, and opportunities.
The report provides information on the following pointers:
â¢ Market penetration: complete information on the knowledge of the spatial situation offered by the best market players
â¢ Product development / innovation: detailed information on upcoming technologies, research and development activities and new product launches in the spatial situational awareness market
â¢ Market Development: Comprehensive insights into lucrative markets – the report analyzes the spatial situational awareness market in various regions
â¢ Market diversification: comprehensive information on new products, unexploited geographies, recent developments and investments in the market Spatial awareness
â¢ Competitive Assessment: In-depth assessment of market shares, growth strategies, products and manufacturing capabilities of key players in the spatial situational awareness market
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