Global Space Debris Monitoring and Removal Market

Space Debris Monitoring and Removal Market Size, Share, Growth Analysis, By Debris Size Range, By Orbit Type, By Application, By Region - Industry Forecast 2025-2032


Report ID: SQMIG20A2278 | Region: Global | Published Date: December, 2024
Pages: 183 | Tables: 86 | Figures: 66

Space Debris Monitoring and Removal Market Dynamics

Drivers

Increasing Space Activities and Growth in Commercial Space Activities

  • One of the key drivers for the market is the increasing number of space activities, such as satellite launches or space missions. As a result, more debris is expected to be observed. For this reason, it is critical to develop effective monitoring and removal solutions to make future space operations safe and sustainable.

Increasing Awareness and Regulatory Initiatives

  • Governments and space agencies have been addressing the issue of space debris through regulatory initiatives and guidelines. Such initiatives have been developed to ensure responsible space operations, minimize debris generation, and encourage the development of technologies for debris removal. In this way, the development of clear standards and guidelines helps create a framework within which debris monitoring and removal practices should be implemented.

Restraints

Limited Resources and Funding

  • Monitoring and removal of space debris implies a significant cost. Considerable expenses are related to the development and implementation of monitoring systems, including ground-based radars and space-based sensors. Subsequently, the development and operation of debris removal means, implying either active or passive approach, is further associated with high costs of spacecraft design, launch, and maneuvers. The mentioned costs make it challenging to ensure widespread monitoring and removal of space debris.

Different Types of Debris Makes the Monitoring and Removal Process Complicated

  • Space debris can be identified as a more modern challenge related to the concept of space. It is common knowledge that there are several significant objects, planks and other elements in space that cover specific ranges of areas. In most cases, this is instrumental and other equipment and technologies that have been lost by human resources and remain in orbit for a long period. Although this concept is not connected with human interference directly, it is still a potential threat to the concept of exploiting space and implementing new exploration initiatives.
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FAQs

Space Debris Monitoring and Removal Market size was valued at USD 1.08 Billion in 2023 and is poised to grow from USD 1.16 Billion in 2024 to USD 1.88 Billion by 2032, growing at a CAGR of 7.15% during the forecast period (2025-2032).

Companies that engage in the removal of space debris are mandated to control the growing population of debris in space. Additionally, the companies are concerned with new product launches, patents, new technological tactical deployment and several other strategies. Rise in the awareness of space pollutants and increasing installation of satellites is the major factor expected to surge the growth of the global space debris monitoring market during the forecast period. The rising number of space tourists has helped the scientists to cater to the rising demand for the technology for monitoring space debris. Several companies have increased the budget of the R&D department to provide monitoring for the use of latest technologies such as coherent amplifying network lasers, and super wide field of view telescopes. 'Airbus S.A.S  ', 'Astroscale  ', 'ClearSpace  ', 'Electro Optic Systems  ', 'Lockheed Martin Corporation  ', 'Northrop Grumman Corporation  ', 'Orbit Guardians  ', 'Obruta  ', 'Share my space  ', 'Voyager Space Holdings Inc.'

One of the key drivers for the market is the increasing number of space activities, such as satellite launches or space missions. As a result, more debris is expected to be observed. For this reason, it is critical to develop effective monitoring and removal solutions to make future space operations safe and sustainable.

Advancements in Tracking and Monitoring Technologies: Round-based radars, space-based sensors, and optical telescopes are becoming more sensitive and therefore able to track increasingly smaller debris parts, creating an increasingly comprehensive picture of their locations. This progress allows the growing population of debris to be consistently cataloged, providing valuable information for assessing the risk of future collisions and planning their removal.

North America was the dominant region in 2023 due to the imposition of strict rules by the US government regarding the sale and distribution of space-related goods and the increase in the number of space launches in the region. The United States is the leading potential regulator for the high impact of the business and existences of the International Traffic in Arms Regulations. It is a United States regulatory provision that governs the development, commerce, transfer, and utilization of defense and space-related commodities. The market players in the region are incurring high costs and facing stiff competition whenever they wish to transact business that does not comply with US policies. Therefore, the United States will come up with effective regulations to control space debris.

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Global Space Debris Monitoring and Removal Market

Report ID: SQMIG20A2278

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