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Space safety and sustainability to boost in-orbit services and SSA
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Space safety and sustainability to boost in-orbit services and SSA
by Erica Marchand
Paris, France (SPX) Jun 07, 2024

Novaspace, created from the merger of Euroconsult and SpaceTec Partners, has released its latest Space Logistics Markets report, projecting around $4.6 billion in commercial revenue over the next decade driven by space safety and sustainability concerns.

With an estimated 28,000 satellites set for launch in the next decade-a 76% increase from the previous decade-and over 6,000 active satellites currently in orbit, satellite operators are recognizing the need for Space Situational Awareness (SSA) solutions to ensure safer spaceflight. Novaspace anticipates that commercial SSA services and data sales will generate approximately $2.5 billion in revenue over the next ten years.

Defense agencies are exploring satellite refueling to enhance mobility in the congested space environment. Governments focused on sustainability are investing in space debris removal demonstrations despite high costs and coordination challenges. On-orbit transfer vehicle (OTV) operators are navigating market challenges, including launch costs and capacity limitations. These combined markets are expected to total around $1.7 billion in revenue over the decade, a small fraction of the expected satellite manufacturing and launch value.

Gabriel Deville, Novaspace Consultant and Editor of the report, stated, "although there is still a long way to go before space logistics become a buyer"s market, the fast-changing and complexifying space environment is paving the way for ambitious demonstrations with the potential to redefine the economics of space in the long-term".

The report also covers changes in the launch market, highlighting SpaceX's dominance in heavy launches in the West, the upcoming introduction of the Starship super heavy launcher, and the competitive landscape among small launchers. It provides a detailed launch forecast, predicting an average of 210 launches per year over the next decade.

Novaspace"s Space Logistics Market report 3rd edition is now available, featuring trends and forecasts across six market verticals.

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