Space Debris Monitoring and Removal Industry is Estimated to Register a CAGR of Nearly 4% During the Forecast Period

 

Industry Highlights

The global space debris monitoring and removal Industry is expected to register significant growth during the forecast period owing to factors such as the increasing number of satellites and rising awareness about space pollution. However, high costs associated with research and development and absence of required infrastructure in developing economies are expected to hamper the Industry growth.

The global space debris monitoring and removal Industry has been segmented based on purpose, debris size, end use, and region.

On the basis of purpose, the global space debris monitoring and removal Industry has been bifurcated into space debris removal and space debris monitoring. The space debris monitoring segment is expected to account for a larger Industry share during the forecast period of 2019 to 2024 due to the increase in space debris monitoring activities by space exploration agencies such as the US Space Surveillance Network and European Space Agency (ESA). However, the space debris removal segment is expected to register a higher CAGR during the forecast period.

Based on debris size, the Industry has been divided into larger than 10 cm, between 1 and 10 cm, and between 1 mm and 1 cm. The between 1 and 10 cm segment dominated the Industry in 2018 and is expected to exhibit the highest CAGR during the forecast period. This is due to the presence of around 900,000 objects in this size range in the Earth’s orbit and their ability to damage active satellites.

In terms of end use, the global space debris monitoring and removal Industry has been classified as commercial and defense. The commercial segment dominated the Industry in 2018 and is expected to register a higher CAGR during the forecast period due to the rise in the number of satellites for navigation, television, and satellite imagery applications. Therefore, rise in the number of satellites is projected to increase space debris. This, in turn, is expected to fuel the demand for space debris removal and monitoring.

Based on region, the global space debris monitoring and removal Industry has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is expected to hold the largest Industry share during the forecast period. However, the Industry in Asia-Pacific is expected to register the highest CAGR during the review period. Factors such as increasing expenditure on defense in developing economies such as China and India are boosting the Industry growth. Additionally, increasing investments made in developing space debris removal satellites by key players such as Astroscale Holdings Inc is propelling Industry growth in the region.

Browse Full Report Details @ https://www.Industryresearchfuture.com/reports/space-debris-monitoring-removal-Industry-8274

Key Players 

The key players in the global space debris monitoring  and removal Industry are Airbus S.A.S. (Netherlands), Altius Space Machines, Inc (US), Astroscale Holdings Inc (Japan), D-Orbit SpA (Italy), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), PAO S.P. Korolev RSC Energia (Russia), and The Boeing Company (US).

 

 

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