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The space debris removal market has undergone exponential growth, leaping from $0.07 billion in 2023 to $0.10 billion in 2024, with a remarkable compound annual growth rate (CAGR) of 44.8%. This historic surge is attributed to the mounting imperative for safe and sustainable space environments, heightened awareness regarding space sustainability, reliance on space-based services, concerns over safeguarding critical assets, and the uptick in commercial space endeavors. Looking ahead, the market is poised for continued exponential growth, projected to reach $0.40 billion by 2028, with a compound annual growth rate (CAGR) of 40.8%. This growth trajectory will be propelled by increased satellite deployments, heightened consciousness surrounding space sustainability, the proliferation of satellite mega constellations, frequent satellite launches, and expanded exploration initiatives in space. Major trends anticipated in the forecast period include the development of innovative technologies and methodologies, collaborations among space debris removal entities, advancements in debris tracking and removal techniques, ongoing advancements in space technologies, and initiatives promoting international cooperation.

The growth of the space debris removal market is fueled by the increasing number of satellite launches. Satellite launches involve deploying artificial satellites into space for various purposes, driven by the rising demand for global connectivity and technological advancements. However, this proliferation of satellites also heightens collision risks with space debris, necessitating space debris removal services for long-term sustainability. For instance, in 2022, there were 186 international space launches of defense-related satellites, compared to 146 in 2021, with 182 successful launches, as reported by Jonathan’s Space Report. Therefore, the increasing number of satellite launches propels the growth of the space debris removal market.

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What Are The Key Trends That Influence Space Debris Removal Market Share Analysis?

Major companies operating in the space debris removal market are focused on developing innovative solutions like commercial debris inspection demonstration satellites to enhance space situational awareness and promote sustainable space operations. For instance, in February 2024, Astroscale Japan Inc. launched the world’s first active debris removal mission, ADRAS-J, aiming to safely approach, characterize, and survey a large piece of debris through rendezvous and proximity operations. This mission targets a Japanese H2A upper-stage rocket body, demonstrating challenging RPO capabilities crucial for on-orbit services by showcasing proximity operations, gathering images, and assessing the rocket body’s movement and structural condition.

Which Market Players Are Driving Growth In The Space Debris Removal Market?

Major companies operating in the market areLockheed Martin Corporation, Airbus SE, Northrop Grumman Corporation, Rocket Lab Limited, Astroscale Holdings Inc., Surrey Satellite Technology Limited, BlackSky Global LLC, Rogue Space Systems Corporation, Planetary Resources Inc., D-Orbit S.p.A., ClearSpace SA, LeoLabs Inc., Metrolaser Inc., Skyrora Limited, Skycorp Inc., Moon Express Inc., NorthStar Earth & Space Inc., Busek Co. Inc., TRL11 Limited, OrbitGuardians Inc., Obruta Space Solutions Inc., Space Logistics LLC, Moonshot Brands Inc., Altius Space Machines Inc., Shackleton Energy Company LLC

How Is The Global Space Debris Removal Market Segmented?

The space debris removal market covered in this report is segmented –

1) By Debris Size: 1mm To 10mm, 10mm To 100mm, Greater Than 100mm
2) By Technique: Direct Debris Removal, Indirect Debris Removal
3) By Operation: Single Technique, Multiple Technique
4) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO)
5) By End User: Commercial, Government

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The Space Debris Removal Global Market Report 2024 provides an overview of the space debris removalmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The space debris removal market forecast analyzes space debris removal market size, space debris removal market share, leading competitor and their market positions.

The Table Of Content For The Space Debris Removal Market Include

1. Space Debris Removal Market Executive Summary
2. Space Debris Removal Market Segments
3. Space Debris Removal Market Size And Template Market Growth Rate
4.  Key Space Debris Removal Market Trends
5. Major Space Debris Removal Market Drivers
……
25. Key Mergers And Acquisitions In The Space Debris Removal Market
26. Top Space Debris Removal Companies
27. Space Debris Removal Market Opportunities And Strategies
28. Space Debris Removal Market, Conclusions And Recommendations
29. Appendix

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