Northbrook, IL 60062 -- (SBWire) -- 08/16/2023 --The on-orbit satellite servicing market is estimated to be USD 2.4 billion in 2023 and is projected to reach USD 5.1 billion by 2030, at a CAGR of 11.5% from 2023 to 2030. The market is driven by factors such as different value chain levels for vendors, increased use of dedicated satellite servicing mission extension vehicles, among others.

Raw material suppliers, component manufacturers, simulator manufacturers, distributors, and end users such as satellite manufacturers and government space agencies are key stakeholders in the on-orbit satellite servicing market ecosystem.

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Based on Service, the Active Debris Removal (ADR) and Orbit Adjustment segment is projected to lead the on-orbit satellite servicing market during the forecast period.

Active Debris Removal (ADR) technologies are designed to effectively capture and eliminate space debris in orbit, either by safely deorbiting it back to Earth or relocating it to a graveyard orbit where it poses no threat to other spacecraft. Various approaches exist for ADR, including the use of robotic arms, nets, tethers, and harpoons to capture and remove debris.

ADR offers numerous benefits, foremost among them being the reduction of collisions between spacecraft and space debris. By actively removing debris, ADR helps to minimize the amount of hazardous material present in orbit, thereby enhancing the safety and sustainability of space operations. However, ADR is a highly intricate and challenging task that demands advanced technologies and substantial resources. Additionally, it raises important legal and ethical considerations, such as establishing responsibility for debris cleanup and implementing measures to prevent the generation of new debris in the future.

Based on End User, the commercial segment is projected to grow at the highest CAGR in the on-orbit satellite servicing market during the forecast period.

The market for commercial on-orbit satellite servicing is rapidly evolving, providing a range of valuable capabilities to commercial satellite operators. These services include in-orbit refueling, repairs, upgrades, and maintenance for satellites. Leading companies such as SpaceLogistics (US) and Astroscale (Japan) are actively involved in this market, developing advanced technologies like robotic arms, fluid transfer systems, and sensors to ensure safe and efficient servicing of satellites in orbit.

The primary advantage of commercial on-orbit satellite servicing lies in its potential to significantly extend the operational lifespan of commercial satellites. By offering services that enhance longevity, operators can continue generating revenue from their satellites for an extended period. This approach also reduces the need for costly and risky satellite replacements, while enabling operators to adapt their existing satellites to match technological advancements and market demands.

North America is expected to account for the largest share in the forecasted period.

The on-orbit satellite servicing market in North America is a vibrant and rapidly expanding sector that encompasses a diverse range of activities focused on servicing and maintaining satellites in orbit. This market involves the collaboration of government agencies, private companies, and research institutions, all contributing to the development, deployment, and commercialization of on-orbit satellite servicing technologies and services.

North America, particularly the United States, is at the forefront of on-orbit satellite servicing initiatives. NASA has played a pivotal role in advancing this field through programs like the NASA Satellite Servicing Capabilities Office (SSCO), which concentrates on developing cutting-edge technologies such as robotic systems, tools, and spacecraft rendezvous and docking capabilities.

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Key Market Players

Players such as Maxar Technologies (US), Astroscale Holdings Inc. (Japan), SpaceLogistics LLC (US), Airbus SE (Netherlands), and Thales Alenia Space (France). The report covers various industry trends and new technological innovations in the on-orbit satellite servicing'companies for the period, 2019-2030.