Space Traffic Management Global Market Report 2024

Space traffic management involves a set of technological and regulatory measures designed to ensure the safe entry, operations, and return from space to Earth, free from physical or radio-frequency interference. It provides a robust framework for coordinating on-orbit activities, enhancing the safety, stability, and sustainability of space operations.

Key activities in space traffic management include space situational awareness (SSA), space debris remediation, space orbit management, and launch vehicle operation. SSA involves monitoring objects in orbit, predicting their real-time locations, and tracking various orbits such as Low Earth Orbit (LEO), Medium Earth Orbit (MEO), elliptical orbits, and Geostationary Earth Orbit (GEO). Applications span communication, Earth observation, navigation, global positioning systems, surveillance, technology development, education, and other fields. End users encompass civil and government entities, commercial enterprises, and military organizations.

The space traffic management market research report is one of a series of new reports that provides Space traffic management market statistics, including Space traffic management industry global market size, regional shares, competitors with a Space traffic management market share, detailed Space traffic management market segments, market trends and opportunities, and any further data you may need to thrive in the Space traffic management industry. This Space traffic management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The space traffic management market size has grown rapidly in recent years. It will grow from $14.67 billion in 2023 to $16.28 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to the growing need for improved safety and efficiency in space operations, the increased number of spacecraft, a congested space environment, the rise of satellite constellations, and considerations related to military and national security.

The space traffic management market size is expected to see rapid growth in the next few years. It will grow to $24.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to the expansion of commercial space activities, the small satellite revolution, advancements in space situational awareness, the development of regulatory frameworks, a growing demand for satellite-based services, and an increase in space exploration missions. Major trends in the forecast period include enhanced space situational awareness (SSA), integration with air traffic management (ATM), increased public awareness and education, rising space traffic density, and the development of autonomous collision avoidance and maneuvering capabilities.

The anticipated growth of the space traffic management market is driven by the increasing threat of space debris. Space debris refers to non-functional remnants of artificial objects orbiting the Earth, posing a risk to operational satellites. Space traffic management plays a crucial role in monitoring and tracking both functional and non-functional satellites, mitigating collision risks with space debris, and contributing to a smoother trajectory for satellites. An article published in May 2021 by The National Aeronautics and Space Administration highlighted that the Department of Defense’s Space Surveillance Network tracks more than 27,000 pieces of orbital debris, emphasizing the pressing need for effective space traffic management.

The growth of the space traffic management market is also expected to be fueled by increasing investments in the space industry. Investments in the space sector are vital for ensuring the safe and efficient operation of satellites, reducing collision risks, and protecting valuable space assets. In January 2022, private investment in space infrastructure firms reached a new annual record of $14.5 billion in 2021, marking a significant increase of more than 50% from the previous year. This surge in investment is a driving factor for the growth of the space traffic management market.

A noteworthy trend in the space traffic management market is the advancement in space debris monitoring platforms. Major companies in the market are actively developing advanced AI-powered space debris monitoring and satellite collision avoidance platforms to enhance their capabilities in space traffic management. For example, Neuraspace, a Portugal-based space start-up, introduced a state-of-the-art platform in March 2022 to enable safe and sustainable in-orbit operations through AI-powered space debris monitoring.

Companies operating in the space traffic management market are adopting a strategic partnership approach, particularly in the development of collision avoidance systems for space. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits. In January 2023, Neuraspace partnered with Ienai Space, a Spain-based space mobility company, and EnduroSat, a Bulgaria-based manufacturer, aiming to provide comprehensive end-to-end space traffic management solutions to address the escalating issue of space debris.

In May 2022, EMCORE Corporation, a leading US-based provider of advanced mixed-signal products, acquired L3 Harris’s space and navigation division for $5 million. This strategic acquisition enhances EMCORE's product portfolio, allowing them to offer a broader range of solutions to customers in the tactical, navigation, and expanding launch vehicle and space satellite markets. L3 Harris, the acquired company, is known for providing tactical communications, geospatial systems, air traffic management, avionics, and space and intelligence solutions.

Major companies operating in the space traffic management market include Thales Group, L3Harris Technologies Inc., The Boeing Company, Airbus Group, BAE Systems PLC, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Saab AB, Kayhan Space, Exolaunch GmbH, HyImpulse Technologies GmbH, Slingshot Aerospace, Altitude Angel, Saber Astronautics LLC, Juniper Networks, Starfish Space, Creare Inc., Neuraspace, Transmetrics AD, Voyage Control, OKAPI: Orbits, COMSPOC Corp., ExoAnalytic Solutions, Kellogg Brown & Root Inc., NorthStar Earth & Space Inc., Space Data Association, Altius Space Machines, Analytical Graphics Inc.

North America was the largest region in the space traffic management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the space traffic management market share during the forecast period. The regions covered in the space traffic management market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the space traffic management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The space traffic management market consists of sales of space traffic management sensors such as thermal, optical and LIDAR sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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