The space industry has seen a lot of technological advancements since the first artificial satellite, Sputnik, was launched by the Russians. The space industry has seen significant growth in the past few decades owing to the sophisticated and robust systems that have undergone continuous enhancements over the years. The satellites launched for various services such as navigation, telecommunication, climate, and environmental monitoring have become so advanced that it has become very difficult to imagine our day-to-day lives without information and data from the satellites. So, the need to protect these space assets has become very important for the countries that not only depend on the satellites for commercial and domestic services but for defense and safety operations as well.

Read Report Overview: Active Space Debris Removal Market

With increased capabilities and growing dependence on the satellites for civil and military uses, their vulnerability to natural and human-made threats have become apparent. The natural threats include meteoroids and other harmful radiations, and the human-made threats include anti-satellite missiles, orbital debris, and others. Since we cannot control the natural threats with the level of technology that is available, the companies are focusing on developing active space debris removal systems.

The active space debris removal industry analysis by BIS Research projects the market to have a significant growth of CAGR 27.66% based on the values during the forecast period from 2020 to 2030. The North America region is expected to dominate the market by 2030 with a share of 61.43%. The North America region includes the U.S. and Canada, but the U.S. is expected to acquire a major share in 2030 due to the increase in the investment of companies in the country.

Low Earth Orbital Debris Dominates the Global Active Space Debris Removal Market

The Low Earth Orbit is the most densely packed orbit with debris, and thus the market share for removing the particles and dead satellites from this orbit is huge, next comes the Geosynchronous Equatorial Orbit, and at last is the Middle Earth Orbit. Each orbit helps in providing services, and the number of satellites launched into those orbits has significant roles to play. The cost associated with removing the debris article is low for the low earth orbit satellites and increases as we go higher. The RemoveDEBRIS mission demonstrated the debris removal mission by capturing and removing debris particles from the low earth orbit in 2018.

Scope of the Global Active Space Debris Removal Market

The active space debris removal market research provides the market information for segmentation such as classification of the debris particles based on their size and the orbit, as well as the removal technique of contact and contactless methods. The market analysis examines the debris removal market outlook in terms of the trends, driving forces, opportunities, technological advancements, and competitive benchmarking, among others.

The report further takes into consideration the market and business dynamics, along with the detailed product contribution of the key players operating in the market.

Key Players and Competitive Landscape

The competitive landscape of the active space debris removal market consists of different strategies taken up by the key players to increase their market share. The strategies include new product launches, business expansions, raising funds, contracts, mergers, collaborations, partnerships, and joint ventures, among others.

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The companies in this industry have strategic partnerships with various government space agencies such as the Japan Aerospace Exploration Agency, Indian Space Research Organization, National Aeronautics and Space Administration. Product development and innovations have been the key strategies adopted by the companies to increase their market presence globally and to attract new contracts for their products.

Key Questions Answered in this Report:

• What are the major drivers, challenges, and opportunities for the active space debris removal market during the forecast period 2020-2030?
• How is COVID-19 affecting the growth of the global active space debris removal market?
• What are the recent trends in the debris removal detection and tracking segment?
• Who are the key players in the active space debris removal market, and what is their competitive benchmarking?
• What is the expected revenue generated by the global active space debris removal market during the forecast period 2020-2030?
• What are the strategies adopted by the key players in the market to increase its market presence in the industry?
• Which application of the debris size and orbit is expected to dominate the market in 2030?
• What are the competitive strengths of the key players in the space debris removal market?
• What would be the aggravated revenue generated by the active space debris removal market segmented by region (North America, Europe, Asia-Pacific, and Rest-of-the-World) by 2030?