Space Traffic Management Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Global space traffic management market was valued at US$ 13,219.9 million in 2021 and is projected to offer a growth opportunity of over US$ 13,121.4 million during 2022-2030. The market is growing at a CAGR of 8.2% during the forecast period. 

Space traffic management (STM) is one of the burning issues in space politics at the moment. Outer space is said to be "contested, congested, and competitive,". STM is the process of coordinating the movement of spacecraft and other objects in order to avoid collisions and preserve the safety of both people and property. Nearly 25,000 satellites are anticipated to join the orbit of Earth by 2030, totaling more than 4,800 active satellites from over 40 different countries. The term "space situational awareness" (SSA), which refers to the simple knowledge of objects in orbit, is more appropriate for describing the current state of STM. Thus, the space situational awareness segment is the highest application segment of the Space traffic management market in 2021. 

As the number of satellites and other space-based assets continues to grow, there is an increasing demand for better space traffic management. The current system for managing space traffic is largely manual, which can lead to errors and delays. Additionally, the system is not designed to cope with the increasing traffic volume.

Automated space traffic management systems can help to solve these problems by providing more accurate and timely information about the location of satellites and other objects in space. These systems can also help to avoid collisions by providing early warning of potential conflicts in the global space traffic management market.

The growing demand for space traffic management is driven by the need for improved safety and efficiency in the operation of satellites and other space-based assets. Automated systems can provide significant benefits in both these areas, and are therefore expected to see increasing uptake in the coming years.

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Key Dynamics of Space Traffic Management Market

Drivers

Congested Environment Due To Increasing Number of Spacecrafts 

Due to rising space launches/spacecraft and leftover space debris, there is high congestion in space, which is driving the need for space traffic management market. Sadly, this number of spacecrafts is expected to increase. In the past year alone, more than 1,000 satellites have been launched, with the majority (more than 90%) originating from commercial players. This growing amount of space debris has raised the risk of a space collision, which might have catastrophic effects on prospective space launches for both crewed and uncrewed spaceflight. Therefore, accurate tracking and traffic management of space debris are crucial for the space sector. To increase the sustainability of the space environment, norms and guidelines for national and subnational space operations must be established by an international coordinating authority.

Restraint

Lack of Comprehensive Space Domain Awareness Among Countries

Comprehensive space domain awareness is one of the largest problems countries have because of poor sensor coverage. Compared to the awareness required for the air and sea domains, this challenge in the global space traffic management market is significantly more difficult. Although there are systems, either existing or under development, none of them are sufficiently integrated to offer thorough space domain knowledge. Most space traffic management talks center on the approximately 35,000 tracked objects, yet this is just 0.01% of all objects. 

Segmental Analysis

Component:

By component, the space traffic management market is segmented into hardware, software, and services. Hardware components held the 44.7% market share in 2021. Sensors, surveillance cameras, and other parts make up the hardware. Designing sophisticated cameras, smart sensors, and other components is quite expensive. To build and produce them, a significant upfront expenditure is required. However, the segment is projected to grow at the highest CAGR 8.3% in the global space traffic management market during the forecast period, 2022–2030.

Traffic Type:

By traffic type, the space traffic management market is segmented into launch vehicles, satellites, and others. The satellite segment held 64.84% market share in 2021. Nearly 25,000 satellites are anticipated to join the orbit of Earth by 2030, according to Atlantic Council, totaling more than 4,800 active satellites from over 40 different countries. Recently, more than 1,500 debris fragments were produced by a Russian anti-satellite (ASAT) test in November 2021. More than 2,000 pieces of debris were created by the impact, most of which will remain in orbit for many years. Such collisions will happen more frequently as launch costs decrease and more satellites enter Earth's orbit.

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Orbit Type:

By orbit type, the space traffic management market is segmented into Geostationary orbit (GEO), Low Earth orbit (LEO), and Medium Earth orbit (MEO). Low Earth orbit (LEO) is the biggest waste yard for spaceships, launch vehicles, and other left-over spacecrafts. 

Based on orbit type, the LEO segment held the highest segmental share of 72.6% in 2021. The deployment of very large satellite constellations and the proliferation of tiny satellites have resulted in considerable increase in the number of active on-orbit spacecraft and object density in LEO. Nearly 6,000 tons of space junk are in LEO, according to NADA. In order to clear up the space debris and prevent any potential spacecraft collisions, an appropriate STM system and framework are needed given the size of the space junk.

Application:

By application, the space traffic management market is segmented into space situational awareness, space debris remediation, space orbit management, launch vehicle operations, and others. Space situational awareness held the highest segmental share in terms of application in 2021. Further, the orbiting space object segment was the highest shareholder sub-segment under the space situational awareness application segment in 2021. Space situational awareness (SSA) is helpful to give operators fast information. The likelihood of a space collision, which can result in tragic space catastrophes and financial loss, is increasing as the number of satellites in orbit is rising. Therefore, SSA is a very important application for managing space traffic.

Industry:

By industry, the space traffic management market is segmented into commercial and military. Military agencies and commercial organizations are the market's two most significant end users. The commercial segment occupied the largest share of 84.0% in 2021. Private businesses that develop, produce, and launch cutting-edge rockets and spacecraft make up the majority of the commercial end customers. Activities carried out in commercial space include those in which a business offers services primarily to government clients. Further, commercial firms dominate the market as a result of the extensive commercialization of space operations. 

Region:

North America held the highest share of the space traffic management market in 2021, recording a revenue of US$ 5,963.4 Mn in 2021. Further, in 2021, the US government invested almost US$ 54.6 billion in its space programs, making it the nation with the largest space spending globally. However, during 2022-2030, Asia Pacific is anticipated to be the game changer with a growth rate of 8.5%. This is mostly because of China's large space activity spending. Additionally, China will improve its system for monitoring space debris and increase space traffic control.

Competitive Landscape of Global Space Traffic Management Market 

In 2021, the top ten players occupied 53.1% share of the global space traffic management market. Boeing Company, Lockheed Martin, Raytheon Technologies, and Airbus Group are some of the key players in the market. The market scenario is expected to shift towards oligopoly nature from the current monopolistic competition. 

Top players in the market are collaborating with partners around the world to improve today’s air traffic management system to enhance safety, improve operational and environmental efficiency and prepare for the expected growth in travel. The core strategies involve extensive research and product development. 

List of Key Companies Profiled:

• Airbus Group
• BAE Systems plc
• Boeing Company
• Exolaunch
• HyImpulse Technologies
• Kayhan Space Corp.
• L3Harris Technologies, Inc.
• Lockheed Martin
• Northrop Grumman
• Raytheon Technologies
• Saab AB
• Thales Group
• The Aerospace Corporation
• Other Prominent Players

Key developments:

• In April 2022, in order to continue maintaining and improving the system for tracking objects in space, L3Harris Technologies, one of the key players in the global space traffic management market, awarded a contract of US$ 117 Mn from the US Space Force and US Space Command. The estimated contract value for the Maintenance of Space Situational Awareness Integrated Capabilities (MOSSAIC) initiative is US$ 1.2 billion over a ten-year period. To maintain and improve the radar, optical, and command and control systems that give military, civil, and commercial customers timely, accurate space domain awareness data, L3Harris received the initial MOSSAIC contract in February 2020.
• In April 2021, the Lockheed Martin iSpace system, which is utilized by the U.S. military and U.S. intelligence agencies, was chosen by the German Space Agency at DLR. Space would be used to assign German sensors to watch space events like launches, collisions, maneuvers, and breakups as well as objects of interest, according to Jeff Chadwick, program manager for space command and control at Lockheed Martin.

Segmentation Overview 

(Note*: We also provide granular level reports, made to sub-segment level or only for niche segments. Contact us, if you require more details.)

By Component

• Hardware
  • Sensors
  • Cameras
  • Others
• Solution
  • Traffic Analytics
  • Smart Surveillance
  • Others
• Services
  • Space Monitoring & Tracking Service
  • Space Data Management Service
  • Space Operation Service
  • Space Warning Service
  • Space Conflict Management Service

By Traffic Type 

• Launch Vehicles
• Satellites
• Others

By Orbit Type

• Geostationary orbit (GEO)
• Low Earth orbit (LEO)
• Medium Earth orbit (MEO)

By Application

• Space Situational Awareness
  • Space Weather
  • Orbiting Space Objects
  • Natural Space Debris
• Space Debris Remediation
  • Low-Cost Active Debris Removal (LCADR)
  • Space Debris Removal
  • Space Debris Monitoring
  • On-Orbit Servicing
  • Tethered-Net Removal Technology
• Space Orbit Management
• Launch Vehicle Operations
• Others

By Industry

• Commercial
• Military

By Region

• North America
• Europe
• Asia Pacific
• Middle East 
  • Saudi Arabia
  • Iran
  • Israel
  • Jordan
  • Iraq
  • Kuwait
  • Qatar
  • UAE
  • Turkey
  • Rest of Middle East
• South America
• North Africa
  • Algeria
  • Egypt
  • Libya
  • Morocco
  • Rest of North Africa