New Delhi, Oct. 17, 2022 (GLOBE NEWSWIRE) -- As the number of satellites and other objects in space continues to grow, the need for effective space traffic management market is becoming more and more important. There are a number of different agencies and organizations that are responsible for STM, including the United States Air Force, NASA, and the European Space Agency, ISRO from India and China National Space Administration. Each of these organizations has its own approach to STM, but they all share a common goal: to keep space safe for everyone.
One of the biggest challenges global space traffic management market is facing the sheer number of objects that are now in orbit around Earth. There are over 4,852 satellites alone are orbiting outer space of earth and more than 4,000 are low earth orbit, and that number is only going to continue to grow. As per Astute Analytica’s study, 25,000 more satellites are likely to add to the outer space by 2030. Tracking all of these objects and ensuring that they don’t collide with each other or with any other objects in space is a daunting task.
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Another challenge in the global space traffic management market is the fact that many of these objects are moving at very high speeds. A collision between two satellites travelling at high speeds can create a lot of debris, which can then become a hazard for other spacecrafts. This was famously illustrated by the 2009 collision between an Iridium satellite and a Russian satellite, which created over 2,000 pieces of debris.
STM experts are working hard to address these challenges, but it’s clear that there is still a lot of work to be done.
Top 10 Players in Global Space Traffic Management Market Generates Over 53% Revenue
As space activity increases and the industry matures, it is likely that we will see consolidation among these commercial players. Aireon, Boeing Company, Lockheed Martin, Raytheon Technologies, and Airbus. Wherein, the top 3 companies are all well-established aerospace contractors with significant experience in managing traffic in other industries such as air traffic control. They are well-positioned to take advantage of this growth market.
Lockheed Martin Corporation is one of the leading companies offering space traffic management solutions and services globally. The company offers solutions for monitoring, managing, and safeguarding spacecraft and orbital assets in near-Earth and cislunar environments across global space traffic management market. It provides data analytics products that enable users to identify potential threats to their assets and operational areas. Lockheed Martin also supports government efforts by providing technical expertise related to space situational awareness sensors, databases, tools & analysis capabilities, as well as policy recommendations for mitigating risks associated with the increased congestion in near-Earth space.
Aireon is a leading player in the Space Traffic Management market and their data and analytics capabilities are unrivaled in the market. Astute Analytica analysis shows that Aireon is well-positioned to capitalize on the growing demand for STM services.
In the last few years, Aireon has invested heavily in data and analytics capabilities, which gives them a clear competitive advantage in the space traffic management market. Their technology can provide real-time tracking of aircraft and other objects in space, which is a critical capability for managing traffic congestion and preventing collisions.
Our analysis shows that Aireon is well-positioned to capitalize on the growing demand for STM services. They have a strong customer base, robust technology, and experienced leadership team. We believe that Aireon is positioned to be a key player in the space traffic management market for years to come.
Satellite Space Traffic Management Holds Generates Over 64% Market Share
The analysis found that there are currently more than 4,000 operational satellites in orbit, and this number is expected to grow to more than 10,000 by 2030. With this increase in satellite traffic comes a need for better traffic management in order to avoid collisions and ensure that satellites are able to operate safely and efficiently.
The safe and efficient management of satellite traffic is essential for the future of space exploration. With the increasing number of countries launching satellites into orbit, it is becoming more important than ever to ensure that these spacecrafts are able to avoid collision and operate efficiently. Astute Analytica’s analysis of the global space traffic management market provides a detailed look at the current state of satellite traffic management and offers valuable insights into its market momentum. Our study suggests that the segment is projected to continue generate over 64% market revenue in the years to come due to its large scape deployment and higher demand for management.
As the growth of satellite-based services continues to increase, so does the demand for comprehensive and effective satellite traffic management market. In order to ensure that satellite systems are able to meet the needs of their users, operators must be able to effectively manage and monitor satellite traffic.
The use of satellites for communication and navigation is growing rapidly, as is the demand for traffic management services that can help ensure the efficient and safe operation of these systems. Traffic management is a critical part of Satellite Operations Center (SOC) activities, and the demand for these services is expected to continue to grow in response to the increasing number of satellites and satellite-based services in operation.
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Upcoming Challenges and Recent Advances in Space Traffic Management Market
As the world increasingly turns to satellite-based communication and navigation, several space research organizations around the globe are investigating new ways to manage ever-growing traffic in space.
In a report released on global space traffic management market, Astute Analytica outlined the problem and possible solutions for the commercial sphere. The report found that there is an ever-increasing demand for satellite traffic management (STM) in commercial applications. As more companies launch satellites and build constellations, the amount of traffic in space will only continue to grow. This increase in traffic presents a challenge for STM, as the current system is not equipped to handle such high volumes.
One solution that is gaining momentum in the space traffic management market is using Artificial Intelligence (AI) for automated STM. This would allow for real-time decisions to be made about routing and other factors, without human intervention. AI has the potential to greatly improve efficiency in STM, and could help reduce congestion and conflicts in space.
Another solution that is being investigated is changing the way we think about STM altogether. Instead of looking at it as a way to manage individual satellites, market players are viewing it as a way to manage entire constellations. This would allow to better plan routes and avoid conflicts before they even happen. It would also allow companies to take advantage of synergies between different satellites and create more efficient networks.
Both of these solutions are still in the early stages of development, but hold great promise for the future of space traffic management market.
Major Players in Global Space Traffic Management Market
- 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
Global Space Traffic Management Market
| Report Attribute | Details |
| Market Size Value in 2021 | US$ 13,219.9 Million |
| Market Outlook for 2030 | US$ 26,341.3 Million |
| Expected CAGR Growth | 8.2% |
| Historic Data | 2017-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| 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 |
| Segments Covered | By Component, By Traffic Type, By Orbit Type, By Application, By Industry, By Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East, North Africa, South America |
| Customization Options | Get your customized report as per your preference. Ask for customization |
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