The best freeware would be NASA's GMAT (link given below). It has orbit analysis, optimization tools, and Matlab integration. Also, there are several plugins available for GMAT for other systems like communications, power etc.
SaVoir is quiet powerfull, and quiet expandable as it offers (for a price) all it functionalities as libraries which can be used in your own software:
http://www.taitussoftware.com/savoir
Of course, if you do not need the full analysis and visualization tools, but only the mathematical implementations for orbital propagation and then do your own interpretation with offline tools, Orekit can give you this for free:
I suggest you to clearly define your meaning of "orbit analysis" and "life time calculation" at first.
"Orbit analysis" includes many.
"Life time calculation" is closely related to the dynamic model you used, the shape model of the objects, how you define a "re-entry", how accurate you expected, and so many other factors.
Assume you are referring to exactly the STK functions, it could be a better practice to figure out what STK does when you request for a "lifetime report", including models, algorithms, accuracy among others. But most probably AGI will not tell you everything in their documents, and then you need textbooks, google, and time.