Market key trends:
One of the key trends driving the growth of global space situational awareness market is the increased deployment of small satellites. Small satellites play a major role in several applications such as technology demonstration, earth observation, communication, science missions and defense among others. According to BryceTech, around 2,012 small satellites are estimated to be launched between 2018 to 2022. More frequent launches of small satellites have increased the need for efficient space situational awareness and collision avoidance systems. As small satellites operate in low earth as well as sun-synchronous orbit, need of advanced SSA solutions is driving the market growth.

Key Takeaways

The Global Space Situational Awareness (SSA) Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing small satellite launches for applications such as Earth observation, communication, and technology demonstration. By 2023, the market size is projected to reach US$ 1.3 Billion.

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