PORTLAND, ORAGON, UNITED STATES, September 29, 2022 /EINPresswire.com/ — Space Situational Awareness (SSA) market is an intriguing concept that revolves around monitoring and understanding the near-Earth environment, encompassing existing and predictive knowledge regarding natural and man-made objects within the Earth’s orbit. Moreover, threats such as orbital collisions between natural or man-made debris, and intentional or unintentional attacks on space assets such as satellites can be avoided with the help of this system. The near-Earth space extends to the Earth-radius of more than 100,000 km to cover all man-made objects in the orbit. Furthermore, the data collected helps the organizers, administrators, chiefs, and authorities in acquiring and keeping up space predominance by impeding clashes and expected impacts. SSA covers space traffic management and space safety programs which includes services planned to assist satellite operators in preventing physical or operational errors. In addition, SSA tracks space bodies that may interfere with a specific orbit circle while anticipating their situations ahead of time for preventing impact with satellites. SSA is segregated into three assistance fragments including space surveillance & tracking of various objects within the Earth’s orbit, space weather, and near-Earth objects.
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Top Impacting Factors
Rise in use of small satellites for military & business, rise in space congestion, and rise in commercial use of satellite is expected to drive growth of the market.
However, stringent rules & regulations by space authorities, non-detection of micro-sized debris by SSA, and limited skilled workforce can hamper growth of the market.
Moreover, rise in number satellite launches, rise in partnership among countries for SSA, and rise in involvement of private players in global space industry can act as an opportunity for growth of the market.
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COVID-19 Impact Analysis:
COVID-19 pandemic has affected the global economy. Thus, many countries have cutdown their space investment budget to support health and other sectors. In space, large player seems to be able to cope with the ongoing crisis. These large firms faced challenges, such as slowdown in production, delay in launches, and others. However, small, and medium-sized industries witnessed a negative impact. For instance, American Aerospace manufacturer SpaceX launched 735 satellite in the year 2020. Thus, SSA market growth has not been severely impacted by the pandemic since, there was an increase in satellite launches in the year 2020.
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Key Benefits of the Report:
This study presents the analytical depiction of the space situational awareness (SSA) market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the space situational awareness (SSA) market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the space situational awareness (SSA) market growth scenario.
The report provides detailed space situational awareness (SSA) market analysis based on competitive intensity and how the competition will take shape in coming years
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Questions answered in the space situational awareness (SSA) market research report:
Which are the leading market players active in the space situational awareness (SSA) market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the space situational awareness (SSA) market?
What are the projections for the future that would help in taking further strategic steps?
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