LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global space debris monitoring and removal market to grow at a CAGR of close to 5% during the forecast period, according to their latest market research report.
The emerging ADR concepts is one of the major trends being witnessed in the global space debris monitoring and removal market 2018-2022. In the last decade, the space debris population has witnessed rapid growth in the LEO and is expected to continue growing even with the widespread adoption of mitigation measures. ADR is required to stabilize the growth of space debris, but more importantly, a check should be monitored for any newly launched objects so that they are in compliance with post-mission guidelines. Otherwise, most of the required ADR effort would go to compensate for the non-compliance of new objects.
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According to Technavio analysts, one of the key factors contributing to the growth of the global space debris monitoring and removal market is the rising amount of space debris:
Global space debris monitoring and removal market: Rising amount of space debris
Presently, nearly 5000 launches have resulted in more than 40,000 tracked objects in orbit, of which about half still remain in space and are regularly tracked by the US Space Surveillance Network and maintained in its catalog. This catalog covers objects larger than 5-10 cm in LEO and 30 cm in 1m at geostationary attitudes.
According to a senior analyst at Technavio for research on space, “One-fourth of the cataloged objects are satellites out of which, less than 30% are operational, and less than that are spent on upper stages and mission-related objects such as launch adapters and lens covers. The primary cause of space debris is the launch of satellites and rockets. The amount of space debris has increased further owing to the expected collisions of spacecraft, accidental breakup events, and other wreckages from the currently operating missions.”
Global space debris monitoring and removal market: Segmentation analysis
The global space debris monitoring and removal market research report provides market segmentation by application (space debris removal technology and space debris monitoring technology), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The space debris removal technology segment held the largest market share in 2017, accounting for nearly 55% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 36%. The market share occupied by this region is anticipated to increase during 2018-2022.
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Five Forces Analysis
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- Vendors covered
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