The Global Space Economy Has Grown 70% Between 2010 and 2020
In 2020, the global space economy was tipping the revenue scales at about $424 billion. By 2040, the industry is expected to top $1 trillion, and this isn’t some optimistic industry analysis. These numbers come from Citibank.
As we’ve already seen, not only are billionaires investing their fortunes into this market, but governments from around the world are moving into space.
Russia, China, Japan, India, United Arab Emirates, the European Union, and others are now moving into the Space Race 2.0.
Part of the reason is the fact that all the technology we’ve developed from the initial Apollo programs, where astronauts were navigating orbits and landings with manual slide rules, now provide massive computing power. Here’s a chart that shows the power of rapid prototyping using digital design and testing.
Cheaper Launch Costs and Industry Innovations
Citi estimates that launch costs will continue to get cheaper. By 2040, they’ll be 95% cheaper than they are today.
These kinds of operational advantages are similar to what we’ve seen as electronics and semiconductors have gotten cheaper. More products use them, and systems become more integrated and collectively powerful.
Similarly, innovations in development costs and reusable parts will be game changers for this industry moving forward. Elon Musk’s SpaceX is well-known for its reusable rockets, but it’s not the only one doing it.
This is now the industry standard for multi-stage rockets. What’s more, there are entire new classes of rockets that deliver a variety of payloads.
NASA and the US Space Force are now supporting smaller launch vehicles for various launches, and that opens up opportunities for new entrants.
Also, bear in mind that moving into space has significant civilian and societal benefits, and any new territory also has strategic risks and opportunities. That means assets in space need to be protected.
Space is also a great place to watch what’s going on down below.
Space: The Final Frontier
The fact is space is a vast new territory that is getting easier to access, and technology is making it far less risky than it was decades ago. All this offers huge opportunities that we’ll explore in the next few issues, but be assured that the list of opportunities to take advantage of this MegaTrend will be significant.
It’s going to take tech players like NVIDIA (NASDAQ: NVDA), Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT) and defense players like Lockheed Martin (NYSE: LMT), Northrop Grumman (NYSE: NOC), Leidos (NASDAQ: LDOS) and others.
As a matter of fact, AMZN is already using the United Launch Alliance rockets to put up its Project Kuiper, which is AMZN’s competition for Musk’s StarLink satellite internet. Even industrial companies like Caterpillar (NYSE: CAT) are creating unmanned vehicles to help build out bases on the moon and beyond.
This is an exciting MegaTrend that’s unfolding rapidly in front of us right now. I will be continuing to watch it develop and find the MegaTrend companies that will continue to deliver outsized growth as we move beyond our big, blue marble.
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