Global Space Traffic Management Market Drivers, Trends And Restraints
Space Traffic Management Global Market Report 2022 : Market Size, Trends, And Forecast To 2026
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As per The Business Research Company’s “Space Traffic Management Global Market Report 2022”, the space traffic management market is predicted to reach a value of $12.55 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The space traffic management market size is expected to grow to $16.91 billion in 2026 at a compound annual growth rate (CAGR) of 7.8%.
The rising threat of space debris is expected to drive the growth of the space traffic management market going forward.
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The Space Traffic Management Market Trends
Advancement in space debris monitoring platforms is a key trend gaining popularity in the space traffic management market. Major companies operating in the space traffic management market are developing space debris monitoring platforms to strengthen their position in the space traffic management market. For instance, in March 2022, Neuraspace, a Portugal-based space start-up developed an advanced AI-powered space debris monitoring and satellite collision avoidance platform, to enable safe and sustainable in-orbit operations.
Overview Of The Space Traffic Management Market
The space traffic management market consists of sales of space traffic management services by entities (organizations, sole traders, and partnerships) that are used to provide a solid framework for on-orbit coordination of activities to improve the safety, stability, and sustainability of space operations. Space traffic management is a set of technological and regulatory provisions intended to ensure safe entry, operations in space, and return from space to earth free of physical or radio-frequency interference.
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Space Traffic Management Global Market Report 2022 from TBRC covers the following information:
Market Size Data
· Forecast period: Historical and Future
· By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
· By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Market Segmentation
· By Activity: Space Situational Awareness, Space Debris Remediation, Space Orbit Management, Launch Vehicle Operation
· By Orbit: LEO, MEO and Elliptical, GEO
· By Application: Communication, Earth Observation, Navigation, Global Positioning System and Surveillance, Technology Development and Education, Other Applications
· By End Use: Civil and Government, Commercial, Military
· By Geography: The global space traffic management market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Thales Group, L3Harris Technologies Inc, Boeing Company, Airbus Group, BAE Systems plc, Northrop Grumman, Raytheon Technologies, Saab AB, Kayhan Space
Trends, opportunities, strategies and so much more.
Space Traffic Management Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides space traffic management global market analysis and in-depth space traffic management global market research. The market report analyzes space traffic management global market size, space traffic management global market growth drivers, space traffic management global market segments, space traffic management global market major players, space traffic management global market growth across geographies, and space traffic management global market competitors’ revenues and market positioning. The space traffic management global market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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