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Space junk is a growing problem in Earth orbit, with hundreds of thousands of pieces of debris thought to be a threat to satellites.

To track some of these hazardous objects Lockheed Martin has announced it will partner with Electro Optic Systems.

And using technology found in modern telescopes they will monitor as much debris as possible.

A new space debris tracking site is to be build in Western Australia to tackle the ground problem of junk in orbit (illustration shown). The site will be built by Lockheed Martin and Electro Optic Systems. It will compliment existing sites like the US Air Force's Space Fence

The space debris tracking site will be based in Western Australia and will compliment an existing service run by the US Air Force known as the Space Fence, which tracks over 200,000 objects.

The new site will use a combination of lasers and sensitive optical systems like those found in telescopes to detect, track and characterise man-made debris objects.

It will focus on specific objects to determine how fast they're moving, what direction they're spinning and what they're made of.

'Ground-based space situational awareness is a growing priority for government and commercial organisations around the world that need to protect their investments in space,' said Rick Ambrose, executive vice president of Lockheed Martin Space Systems.

'Through this agreement with Electro Optic Systems, we'll offer customers a clearer picture of the objects that could endanger their satellites, and do so with great precision and cost-effectiveness.'

Most will be familiar with Lockheed Martin, headquartered in Maryland, who are one of the largest defense and aerospace companies in the world.

But Electro Optic Systems might be more unknown; they're an Australian company that develops and produces a wide range of space-related technologies including telescopes and beam directors.

They are among the largest producers of major optical telescopes in the world, and currently operate the Space Research Centre, a satellite laser ranging and debris tracking facility, at Mount Stromlo in the Australian Capital Territory.

Space debris can be a problem, as seen in this picture of a hole caused by orbital debris that was found in Nasa's Solar Maximum Mission when it was serviced aboard Space Shuttle Challenger in 1984. Hundreds of thousands of pieces of debris are thought to be in orbit

'The partnership with Lockheed Martin will help both organisations establish a global network of space sensors, while simultaneously increasing the market reach of the partners' data and services,' said Electro Optic Systems Chief Executive Officer Ben Greene. 

'We consider the strategic partnership with Lockheed Martin a major step towards the achievement of critical mass of sensors, data and services, all of which are critical in providing detailed yet easily usable information on space debris.'

According to Nasa more than 500,000 pieces of debris are orbiting Earth at speeds of more than 17,500 miles (28,000 kilometres) per hour.

At this speed a piece as small as a golf ball could smash a satellite to pieces.

Some have even suggested we may be heading towards a 'Kessler syndrome'-type event.

This was envisaged in the 2013 movie Gravity, which portrayed a satellite collision that sparked a chain reaction where debris increasingly impacted other satellites, creating more debris in the process.

This has led many companies and agencies to draw up plans to reduce the amount of space debris in Earth orbit, such as proposals to drag debris down with magnetic nets or lasers.