Abstract
Summary
The space debris removal market is valued at USD 0.1 billion in 2023 and is projected to reach USD 0.6 billion by 2028, at a CAGR of 41.7% from 2023 to 2028. Over the last few years, the space debris removal industry has continued to evolve with expanding use cases, better cost efficiencies, and a more significant impact of new technological developments in the space industry. The space debris removal market is experiencing growth driven by increasing space congestion and need for space sustainability. Technological advancements, particularly in cost-effective deorbiting platforms, are improving market accessibility. Growing involvement of commercial space enterprises and government investments in space based services are stimulating competition and innovation.
Based on technique, the indirect debris removal segment is estimated to have the second largest market share in 2023.
The indirect debris removal segment in the space debris removal market is being driven by increasing demand for high-precision deorbiting systems and debris decreasing techniques. Technological advancements, particularly in cost-effective LEO orbit platforms, are expanding market accessibility. Growing environmental concerns, along with government and commercial investments in space infrastructure, underscore the need for space debris removal and addressing environmental challenges. This competitive landscape is driving innovation and enhancing the market's overall growth prospects.
Based on operation, the multiple technique is estimated to have the second largest market share in 2023.
The multiple technique segment within the space debris removal market is being driven by effective solutions and versatility. The advancements in miniaturization and cost-effective technology have lowered entry barriers, fostering heightened competition. The escalating demand for cleaning different sizes of space junk with a single mission is driving the market.
Based on regions, the Asia Pacific region is estimated to have the second largest market share in 2023.
The Asia Pacific region is witnessing robust growth in the space debris removal market driven by key business factors. The region's thriving economies are generating increased demand for maintaining space sustainability. Governments in the region are making substantial investments in space infrastructure and satellite technology, which is accelerating the development and deployment of orbital debris removal technologies. Additionally, the presence of a rapidly expanding commercial space sector, particularly in countries like Japan and China, is intensifying competition and driving innovation, contributing to market expansion.
The break-up of the profile of primary participants in the space debris removal market:
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 40%, Director Level – 25%, and Others – 35%
• By Region: North America – 40%, Europe – 25%, Asia Pacific – 25%, Rest of the World (RoW) – 10%
Major companies profiled in the report include Astroscale (Japan), ClearSpace (Switzerland), Surrey Satellite Technology Ltd (UK), Northrop Grumman (US), and Kall Morris Incorporated (US), among others.
Research Coverage:
This market study covers the space debris removal market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on debris size, orbit, technique, operation, end user, and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
Reasons to buy this report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall space debris removal market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities. The space debris removal market is experiencing substantial growth, primarily driven by the increasing debris density. The increasing trend toward international cooperation and joint operations among nations is fostering demand for space debris removal, contributing to regional and global stability. The report provides insights on the following pointers:
• Market Drivers: Market Drivers such as the growing government initiatives, rise in satellite launches and increasing space junk, and other drivers covered in the report.
• Market Penetration: Comprehensive information on space debris removal offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the space debris removal market
• Market Development: Comprehensive information about lucrative markets – the report analyses the space debris removal market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the space debris removal market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the space debris removal market
Table of Contents
1 INTRODUCTION 22
1.1 STUDY OBJECTIVES 22
1.2 MARKET DEFINITION 22
1.3 STUDY SCOPE 23
1.3.1 MARKETS COVERED 23
1.3.2 REGIONAL SCOPE 23
1.4 YEARS CONSIDERED 24
1.5 INCLUSIONS AND EXCLUSIONS 24
1.6 CURRENCY & PRICING 25
1.7 STAKEHOLDERS 25
2 RESEARCH METHODOLOGY 26
2.1 RESEARCH DATA 26
2.1.1 SECONDARY DATA 27
- 2.1.1.1 Secondary sources 28
2.1.2 PRIMARY DATA 28
- 2.1.2.1 Primary sources 28
- 2.1.2.2 Key data from primary sources 29
2.2 FACTOR ANALYSIS 30
2.2.1 INTRODUCTION 30
2.2.2 DEMAND-SIDE INDICATORS 30
2.2.3 SUPPLY-SIDE INDICATORS 30
2.3 RECESSION IMPACT ANALYSIS 31
2.4 MARKET SIZE ESTIMATION 31
2.4.1 BOTTOM-UP APPROACH 31
- 2.4.1.1 Market size estimation and methodology 31
2.4.2 TOP-DOWN APPROACH 32
2.5 DATA TRIANGULATION 33
2.6 RESEARCH ASSUMPTIONS 34
2.7 RESEARCH LIMITATIONS 34
2.8 RISK ANALYSIS 35
3 EXECUTIVE SUMMARY 36
4 PREMIUM INSIGHTS 40
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN SPACE DEBRIS REMOVAL MARKET 40
4.2 SPACE DEBRIS REMOVAL MARKET, BY ORBIT 40
4.3 SPACE DEBRIS REMOVAL MARKET, BY END USER 41
5 MARKET OVERVIEW 42
5.1 INTRODUCTION 42
5.2 MARKET DYNAMICS 42
5.2.1 DRIVERS 43
- 5.2.1.1 Growing government initiatives related to debris removal technologies 43
- 5.2.1.2 Rise in satellite launches and increasing space junk 43
5.2.2 RESTRAINTS 44
- 5.2.2.1 High cost and funding requirement 44
- 5.2.2.2 Absence of established regulatory standards for space debris removal 44
5.2.3 OPPORTUNITIES 44
- 5.2.3.1 Robotic systems to capture and manage space debris 44
5.2.4 CHALLENGES 45
- 5.2.4.1 Lack of debris data management 45
- 5.2.4.2 Risk mitigation during debris removal operations 45
5.3 RECESSION IMPACT ANALYSIS 45
5.4 VALUE CHAIN ANALYSIS 46
5.4.1 RAW MATERIALS 47
5.4.2 R&D 47
5.4.3 OEMS (COMPONENT MANUFACTURING) 47
5.4.4 ASSEMBLERS & INTEGRATORS 48
5.4.5 END USERS 48
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 48
5.6 ECOSYSTEM ANALYSIS 49
5.6.1 PROMINENT COMPANIES 49
5.6.2 PRIVATE AND SMALL ENTERPRISES 49
5.6.3 END USERS 49
5.7 PORTER’S FIVE FORCES ANALYSIS 51
5.7.1 THREAT OF NEW ENTRANTS 52
5.7.2 THREAT OF SUBSTITUTES 52
5.7.3 BARGAINING POWER OF SUPPLIERS 52
5.7.4 BARGAINING POWER OF BUYERS 52
5.7.5 INTENSITY OF COMPETITIVE RIVALRY 52
5.8 AVERAGE SELLING PRICE TREND ANALYSIS 53
5.8.1 INDICATIVE PRICING ANALYSIS 53
5.9 TARIFF AND REGULATORY LANDSCAPE 54
5.9.1 NORTH AMERICA 54
5.9.2 EUROPE 55
5.9.3 ASIA PACIFIC 55
5.9.4 REST OF THE WORLD 56
5.10 TRADE ANALYSIS 57
5.10.1 IMPORT DATA 57
- 5.10.1.1 Export data 58
5.11 KEY STAKEHOLDERS AND BUYING CRITERIA 59
5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS 59
5.11.2 BUYING CRITERIA 60
5.12 KEY CONFERENCES AND EVENTS, 2023-2024 61
5.13 USE CASE ANALYSIS 62
5.13.1 USE CASE 1: DRAGSAIL SYSTEM FOR SATELLITE DEORBITING 62
5.13.2 USE CASE 2: HARPOON & NET SYSTEM FOR DEBRIS REMOVAL 62
6 INDUSTRY TRENDS 63
6.1 INTRODUCTION 63
6.2 TECHNOLOGY TRENDS 63
6.2.1 LASER TECHNOLOGY 63
6.2.2 ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING 64
6.2.3 ADVANCED SENSORS AND IOT 64
6.2.4 3D PRINTING 64
6.2.5 BLOCKCHAIN TECHNOLOGY 65
6.3 IMPACT OF MEGATRENDS 65
6.3.1 SPACE TRAFFIC MANAGEMENT SYSTEMS 65
6.3.2 ROBOTICS 66
6.3.3 SUSTAINABLE TECHNOLOGIES 66
6.4 SUPPLY CHAIN ANALYSIS 66
6.5 INNOVATIONS AND PATENT ANALYSIS 68
6.6 TECHNOLOGICAL ROADMAP 72
7 SPACE DEBRIS REMOVAL MARKET, BY TECHNIQUE 73
7.1 INTRODUCTION 74
7.2 DIRECT DEBRIS REMOVAL 75
7.2.1 ROBOTIC ARMS 75
- 7.2.1.1 Growing R&D investments for advanced robotic arms to drive market 75
7.2.2 HARPOONS AND NETS 75
- 7.2.2.1 Ability to lower risk of collisions to drive market 75
7.2.3 OTHER DIRECT DEBRIS REMOVAL TECHNIQUES 75
7.3 INDIRECT DEBRIS REMOVAL 76
7.3.1 DRAG SAILS 76
- 7.3.1.1 Increasing deployment to manage space debris to drive market 76
7.3.2 ELECTRODYNAMIC TETHERS 76
- 7.3.2.1 Potential to revolutionize space missions and satellite disposal to drive market 76
7.3.3 OTHER INDIRECT DEBRIS REMOVAL TECHNIQUES 76
8 SPACE DEBRIS REMOVAL MARKET, BY OPERATION 77
8.1 INTRODUCTION 78
8.2 SINGLE TECHNIQUE 79
8.2.1 NEED FOR PRACTICAL AND STREAMLINED DEBRIS REMOVAL METHODS TO DRIVE MARKET 79
8.3 MULTIPLE TECHNIQUE 79
8.3.1 NEED FOR OPERATIONAL EFFICIENCY TO DRIVE MARKET 79
9 SPACE DEBRIS REMOVAL MARKET, BY ORBIT 80
9.1 INTRODUCTION 81
9.2 LOW EARTH ORBIT (LEO) 82
9.2.1 INCREASING SATELLITE LAUNCHES IN LEO ORBIT TO DRIVE MARKET 82
9.3 MEDIUM EARTH ORBIT (MEO) 82
9.3.1 INCREASING UTILIZATION OF MEO ORBITS BY COMMERCIAL COMPANIES TO DRIVE MARKET 82
9.4 GEOSTATIONARY EARTH ORBIT (GEO) 83
9.4.1 SURGE IN GEO SATELLITE LAUNCHES TO DRIVE MARKET 83
10 SPACE DEBRIS REMOVAL MARKET, BY END USER 84
10.1 INTRODUCTION 85
10.2 GOVERNMENT 86
10.2.1 COLLABORATIONS BETWEEN GOVERNMENT ORGANIZATIONS TO ENSURE SPACE SUSTAINABILITY TO DRIVE MARKET 86
10.3 COMMERCIAL 86
10.3.1 GOVERNMENT REGULATIONS ON SPACE SUSTAINABILITY TO DRIVE MARKET 86
11 SPACE DEBRIS REMOVAL MARKET, BY DEBRIS SIZE 87
11.1 INTRODUCTION 87
11.2 1MM TO 10MM 87
11.3 10MM TO 100MM 87
11.4 GREATER THAN 100 MM 87
12 SPACE DEBRIS REMOVAL MARKET, BY REGION 88
12.1 INTRODUCTION 89
12.2 REGIONAL RECESSION IMPACT ANALYSIS 90
12.3 NORTH AMERICA 91
12.3.1 PESTLE ANALYSIS 91
12.3.2 RECESSION IMPACT ANALYSIS 92
12.3.3 US 95
- 12.3.3.1 Presence of leading space debris removal companies to drive market 95
12.3.4 CANADA 95
- 12.3.4.1 Increasing government investment in space industry to drive market 95
12.4 EUROPE 96
12.4.1 PESTLE ANALYSIS 96
12.4.2 RECESSION IMPACT ANALYSIS 97
12.4.3 UK 99
- 12.4.3.1 Innovations in debris removal technologies to drive market 99
12.4.4 FRANCE 99
- 12.4.4.1 Growing investment in space debris removal R&D to drive market 99
12.4.5 GERMANY 100
- 12.4.5.1 Continuous focus on upgrading space sustainability systems to drive market 100
12.4.6 ITALY 100
- 12.4.6.1 Technological Innovation and collaborative expertise to drive market 100
12.4.7 RUSSIA 100
- 12.4.7.1 Increasing reliability on self-developed space systems to drive market 100
12.4.8 REST OF EUROPE 101
12.5 ASIA PACIFIC 101
12.5.1 PESTLE ANALYSIS 101
12.5.2 RECESSION IMPACT ANALYSIS 102
12.5.3 CHINA 104
- 12.5.3.1 Rising deployment of satellites to drive market 104
12.5.4 JAPAN 105
- 12.5.4.1 Rigorous development of space debris removal systems to drive market 105
12.5.5 INDIA 105
- 12.5.5.1 Active dominance of ISRO in sustainable space operations to drive market 105
12.5.6 SOUTH KOREA 105
- 12.5.6.1 Collaborative partnerships between researchers and government to drive market 105
12.5.7 REST OF ASIA PACIFIC 106
12.6 REST OF THE WORLD (ROW) 106
12.6.1 RECESSION IMPACT ANALYSIS 106
12.6.2 MIDDLE EAST & AFRICA 108
- 12.6.2.1 Increasing space situational awareness to drive market 108
12.6.3 LATIN AMERICA 108
- 12.6.3.1 Increased focus on space development to drive market 108
13 COMPETITIVE LANDSCAPE 109
13.1 INTRODUCTION 109
13.2 SPACE DEBRIS REMOVAL MARKET RANKING ANALYSIS, 2022 111
13.3 COMPANY EVALUATION MATRIX, 2022 112
13.3.1 STARS 112
13.3.2 EMERGING LEADERS 112
13.3.3 PERVASIVE PLAYERS 112
13.3.4 PARTICIPANTS 112
13.3.5 COMPANY FOOTPRINT 114
13.4 START-UP/SME EVALUATION MATRIX, 2022 116
13.4.1 PROGRESSIVE COMPANIES 116
13.4.2 RESPONSIVE COMPANIES 116
13.4.3 DYNAMIC COMPANIES 116
13.4.4 STARTING BLOCKS 116
13.4.5 COMPETITIVE BENCHMARKING 118
13.5 COMPETITIVE SCENARIO 120
13.5.1 DEALS 120
14 COMPANY PROFILES 125
14.1 KEY PLAYERS 125
14.1.1 ASTROSCALE 125
14.1.2 CLEARSPACE 128
14.1.3 SURREY SATELLITE TECHNOLOGY LTD 131
14.1.4 NORTHROP GRUMMAN 133
14.1.5 KALL MORRIS INCORPORATED 136
14.1.6 D-ORBIT 139
14.1.7 ALTIUS SPACE MACHINES 140
14.1.8 OBRUTA SPACE SOLUTIONS CORP 141
14.1.9 TRANS ASTRONAUTICA CORPORATION. (TRANSASTRA) 142
14.1.10 DARK 144
14.1.11 AURORA PROPULSION TECHNOLOGIES OY 145
14.1.12 REDWIRE CORPORATION 147
14.1.13 HPS GMBH 149
14.1.14 ELECTRO OPTIC SYSTEMS 150
14.1.15 SKY PERFECT JSAT HOLDINGS INC 153
14.2 OTHER PLAYERS 155
14.2.1 NPC SPACEMIND 155
14.2.2 ORIGIN.SPACE 156
14.2.3 SKYRORA LIMITED 157
14.2.4 ORBOTIC SYSTEMS INC 158
14.2.5 ORBITGUARDIANS 159
14.2.6 KURS ORBITAL 160
14.2.7 TETHERS UNLIMITED, INC 161
14.2.8 GLYCANSPACEXR 162
14.2.9 EXPLORATION LABORATORIES LLC 163
14.2.10 KINETIK SPACE 163
15 APPENDIX 164
15.1 DISCUSSION GUIDE 164
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 167
15.3 CUSTOMIZATION OPTIONS 169
15.4 RELATED REPORTS 169
15.5 AUTHOR DETAILS 170