Global Space Situational Awareness (SSA) Market is Estimated to Witness High Growth Owing to Opportunity in Enhancing Space Safety
Space Situational Awareness (SSA) is the knowledge and characterization of space objects and their operational environment that enable timely, informed decisions regarding activities in space. SSA tools and services provide accurate tracking and characterization of objects orbiting Earth and predict potential collisions. The continuous monitoring and precise tracking of satellites and space debris helps avoid accidents and preserve orbital slots allocated to countries. The global Space Situational Awareness (SSA) Market is estimated to be valued at US$ 1.5 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: Enhancing Space Safety The increasing congestion in space owing to growing number of small satellites and space debris has heightened the need for enhanced space safety. As per estimates, over 27,000 pieces of debris are tracked regularly but t...