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Space traffic management market to reach $22,422.6 million in 2030
PORTLAND, OREGON, UNITED STATES, August 2, 2023/EINPresswire.com/ -- As per the report published by Allied Market Research, the global space traffic management market was accounted for $11.9 billion in 2020, and is projected to garner $22.4 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030.
Introduction of satellite life extension vehicles, increase in number of space debris and overlapping space orbits, and space-based connectivity initiative have boosted the growth of the global space traffic management market. In addition, the reduced launch cost due to advent of re-usable rockets and adoption of smallsats and cubeasts would open new opportunities in the future.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/16524
Covid-19 scenario:
The Covid-19 pandemic effected the market due to limited trade of raw materials and finished goods and delays in launch of new missions.
Reallocation of budgets toward catering medical emergency from other domains including defense, space, and aviation created liquidity crunch across the market.
However, the pandemic opened a new opportunity due to the rise in demand for earth observation and satellite.
The report segments the global space traffic management market on the basis of application, end use, orbit, activity, and region.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐭- https://www.alliedmarketresearch.com/request-for-customization/16524
Based on application, the communication segment held the largest share in 2020, contributing to nearly half of the market. Furthermore, the segment is estimated to register the highest CAGR of 7.79% from 2021 to 2030. The report includes analysis of other segments such as earth observation, navigation, global positioning systems, and surveillance, technology development and education, and others.
On the basis of end use, the commercial segment dominated the market in 2020, accounting for around two-thirds of the market. In addition, the segment is projected to register the highest CAGR of 7.28% during the forecast period.
𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/16524
The global space traffic management market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is anticipated to register the highest CAGR of 8.4% during the forecast period.
The global space traffic management market includes an in-depth analysis of the prime market players such as Lockheed Martin, L3Harris Technologies, Thales Group, Airbus, Boeing, Northrop Grumman, BAE Systems, Saab AB, Raytheon Technologies, and Kayhan Space.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/checkout-final/ff225fc5c4729e6796e2cbfa4de9a413
𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞-
Space Transportation Market- https://www.alliedmarketresearch.com/space-transportation-market-A10719
Unmanned Traffic Management Market- https://www.alliedmarketresearch.com/unmanned-traffic-management-market-A07169
Air Traffic Management Market- https://www.alliedmarketresearch.com/air-traffic-management-market-A07104
Air Traffic Control Market- https://www.alliedmarketresearch.com/air-traffic-control-equipment-market
Vessel Traffic Management Market- https://www.alliedmarketresearch.com/vessel-traffic-management-market-A07175
David Correa
Allied Analytics LLP
1 800-792-5285
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