According to BIS Research, the estimated market values for the forecast period of 2020-2030, with the base year 2019. The global active space debris removal market is estimated to reach $273.5 million in 2030, from $12.6 million in 2019.
The orbital debris, as explained by NASA, is ‘space debris that encompasses both natural (meteoroid), and artificial (man-made) particles. Meteoroids are in orbit around the sun, while most artificial debris is in orbit around the Earth. Hence, the latter is commonly referred to as orbital debris.’ Due to technological limitations, the removal of meteoroids from space is restricted at least for the next 15 years. Since the orbital debris poses a greater threat to the satellites, the industry is currently concentrating on the removal of orbital debris to protect the space assets from freely moving, high-velocity particles and objects.
The market is influenced by several factors that contribute to its growth. The factors include the increasing regulations from various international space agencies, such as the Inter-Agency Space Debris Coordination Committee, and national agencies, such as the Federal Communication Commission of the U.S., which have been making recommendations and regulations for the satellite manufacturers to make sure that they won’t increase the existing debris problem.
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Key Market Players of Active Space Debris Removal Industry:
The key players in the global active space debris removal market include Airbus S.A.S.(the Netherlands), Altius Space (the U.S.), Ariane Group (France), Astroscale (Japan), ClearSpace SA (Switzerland), D-Orbit SpA (Italy), Electro Optic Systems Pty Ltd (Australia), Exodus Space Systems (Australia), Innovative Solutions in Space B.V. (the Netherlands), Lockheed Martin Corporation (the U.S.), Northrop Grumman Corporation (the U.S.), SKY Perfect JSAT Corporation (Japan), Surrey Satellite Technologies Ltd (the U.K.), Tethers Unlimited, Inc. (the U.S.), and government space agencies such as the European Space Agency (France), and Indian Space Research Organization (India).
North America Expected to Dominate the Global Share of the Active Space Debris Removal Industry:
Having the greatest number of satellites from the region, especially from the U.S., the Space Liability Convention clearly states that the country responsible for the launch of the satellite will be held responsible for any damage caused by the satellite. Being the global leader in the satellite industry, the North American region is expected to have a major share of the market during the forecast period.
The space industry continues to grow, and the need to protect the assets has become one of the driving forces for the active space debris removal technology manufacturers to invest more in developing the required technologies that satisfy the future market needs. The industry is currently focusing on how to remove the increasing debris particles and dead satellites before it becomes too late to take action.
The research study is based on extensive primary interviews (in-house market leader, industry players, and experts) and secondary research (a host of paid and unpaid databases), along with analytical tools to predict the forecast. With the help of these research methods, the active space debris removal market study offers a broader perspective on the industry.
Key Questions Answered in this Report:
What are the drivers and challenges for the companies that are trying to penetrate the active space debris removal market?
How is the market expected to grow during the forecast period 2020-2030?
What are the opportunities generated for the new companies to expand their operations in the debris removal industry?
Which region is expected to be leading the active space debris removal market by 2030?
What are the recent technological trends developed to track and catalog the orbital debris?
What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?
What is the current and future revenue scenario generated by this market going to be like?
The report provides information on the ecosystem participants, value chain, and patent analysis of the market, along with classifying the market based on the application, product, and region. The report contains the business dynamics of the future, such as the drivers, challenges, and opportunities for the companies along with the business and corporate strategies practiced by the companies.
A brief overview of the key players is also attached in the report explaining their role in the active space debris removal market. The report also consists of the country-wise analysis of the market, including key countries in every region, including the U.S., Canada, France, Russia, Germany, the U.K., China, Japan, and India, among others.
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