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CloseFINANCIAL TIMES: LEVERAGING SPACE FOR SUSTAINABLE INDUSTRIAL GROWTH
The space economy is still in its very early stage of growth, with an expected annual revenue exceeding one trillion dollars (USD) by 2040. Space is no longer a high ground reserved for the military, the wealthy, or astronauts. It’s an integral part of today’s society and mainstream economy.
Fueled by increasing public interest and private sector investments, as well as decreasing launch costs, the commercial space market is launching exponentially more satellites into space. The new space infrastructure will enable new applications and services across industries. It is already improving how existing services are delivered—from communications to manufacturing, agriculture to autonomous driving, digital healthcare to disaster response, and beyond.
Explore this fascinating and timely discussion with three space business and technology innovators—leaders on a mission to accelerate the sustainable industrial growth of space, here on Earth.
Featured Participants:
- Yasmine King, Managing Director (Aerospace), Analog Devices
- Amit Somani, Chief Strategy Officer, Yahsat
- Andrew Bacon, Co-Founder, Space Forge
- Anna Gross, TMT Correspondent, Financial Times
Featured Video Segments:
- Is There Enough Space in Space?
- Collaborating to Accelerate Growth
- Standardization for the Growing Commercial Space Economy
Is There Enough Space in Space?
Technology innovation is needed to manage and reduce the congestion of thousands of satellites in space while efficiently utilizing the space infrastructure for promoting environmental and industrial sustainability. Next-generation, software-defined satellites that are more flexible, adaptable, and cost efficient will help make all this possible while enabling value-added new products and revenue streams.
Collaborating to Accelerate Growth
Collaboration, open communication, and dialogue are the foundational core of the space industry. To advance us to the next stage and support higher launch volumes and growing use-cases, the industry needs to build deeper collaboration at all levels across the ecosystem, and fully embrace space to create sustainable value.
Standardization for the Growing Commercial Space Economy
The high performance requirements, reliability, and cost expectations of the commercial space and LEO markets are markedly different from classic space. New standards are required to grow the commercial space industry and attain modular, scalable, reusable, and interoperable solutions at a reasonable cost.
