Active Space Debris Removal Market Forecast, 2020-2030
The active space debris removal market has gained huge importance in the past few years. This is due to the rising debris threat on space assets. Several government agencies and non-profit organizations and associations have started drafting policies and regulations to prevent companies from increasing the debris objects in the orbit.
A recent report from BIS Research indicates that the active space debris removal industry should experience 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.
The report constitutes an extensive study of the active space debris removal industry. The report largely focuses on providing market information for the debris removal covering various segments, products, applications, and regions. The size range included 1mm-10mm, 10mm-100mm, and greater than 100mm. The orbits were classified into Low Earth Orbit, Middle Earth Orbit, and Geostationary Orbit. The market is further segmented into four contact methods to capture the debris, namely the robotic arm, tethers, net, and harpoon. A brief description of contactless methods such as lasers and ion beam shepherd method were explained in the report.
The active space debris removal market is segregated by region under four major regions, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions (by country) is provided.
The key players in the global active space debris removal market include Airbus S.A.S.(the Netherlands), Altius Space (the U.S.), Ariane Group (France), Astroscale (Japan), ClearSpace SA (Switzerland), D-Orbit SpA (Italy), Electro Optic Systems Pty Ltd (Australia), Exodus Space Systems (Australia), Innovative Solutions in Space B.V. (the Netherlands), Lockheed Martin Corporation (the U.S.), Northrop Grumman Corporation (the U.S.), SKY Perfect JSAT Corporation (Japan), Surrey Satellite Technologies Ltd (the U.K.), Tethers Unlimited, Inc. (the U.S.), and government space agencies such as the European Space Agency (France), and Indian Space Research Organization (India).
(Source: ASDReports news release. File image)