As a way to obtain the feature information of space targets, the spectral observation technology provides an important solution for the identification and performance analysis of the surface materials of space targets. At present, the degree of precision of optical information collection components is high, so the space target observation technology also shows diversity. Based on the 1.2 m space target optical telescope at the Changchun Satellite Observatory, three terminal devices of the push-broom grating spectrometer, the optical fiber spectrometer, and the filter spectrometer camera are used to observe stars and space targets and thus spectral data are obtained. Further, the adaptive analysis of the observation technology is conducted through the data. The results show that the three methods are all suitable for the observation of stars and high-orbit space targets, and can obtain better spectral data. In contrast, the filter spectroscopic cameras and the fiber spectrometers are suitable for observing the low-orbit space targets, however the push-broom grating spectrometers and the filter spectroscopic cameras are suitable for observing the medium-orbit space targets. In addition, the filter spectroscopic cameras can provide an observation reference for the acquisition of spectral data of precision-tracked space targets. For different application environments, the equipment cost, the optical path debugging degree, the obtained light intensity, the adjustable observation band, and the degree of data processing can be used as a reference for subsequent programs.