IT News Online: NSR’s In-Orbit Services Report Projects $14.3 Billion in Revenues as Non-Geo Constellations Grow Demand
Feb. 15, 2022 (GLOBE NEWSWIRE) — In its 5th year, NSR’s first to market In-Orbit Services: Satellite Servicing, ADR, and SSA, 5th Edition (IoSM5) forecasts $14.3 Billion in IoSM revenue, driven by Life Extension, generating $4.7 Billion through 2031. As the race to launch Non-GEO Satellite Constellation grows, thousands of satellites are set to launch through the coming decade growing demand for IoS.
Over the next decade, NSR’s IoSM5 anticipates growth for all In-Orbit Service applications. The Space Situational Awareness (SSA) market, guided by the need to track assets, is expected to grow fast, and reach a $3.7 Billon opportunity. And Active Debris Removal will be the fastest-growing area, at 38% CAGR, driven by innovative technology and increasing demand for maintaining secure & sustainable orbits for satellite constellations.