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 News

  • In July 2023, Obruta Space Solutions corp. has received a contract by the Canadian Space Agency through the Space Technology Development Program for A Novel Multi-Target Space Debris Removal Technology Feasibility Study.
  • In May 2023, ClearSpace and Arianespace have signed the contract for the launch of the ClearSpace-1, the first active debris removal mission. It is able to capture and deorbit of a derelict space debris object of more than 100 kg.
  • In January 2022, Northrop Grumman Corporation has signed an agreement with the U.S. Space Force to develop a radar to track active satellites and debris in higher orbits. The contract’s amount is USD 341 million. Northrop’s radar will be situated in the Indo-Pacific region and will constitute one of the three planed ground-based radar sites for the DARC program.
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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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