Space Economy – Thematic Intelligence

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Space Economy Theme Analysis Report Overview

Space is no longer the sole domain of governments and incumbent aerospace and defense companies. Technological advances in manufacturing, propulsion, and the launch of rockets have made it much easier and less expensive to venture into space. Those businesses that pursued emerging opportunities have gained a first-mover advantage. For instance, SpaceX was the first private company to launch a spacecraft into orbit and return it safely to Earth-.

The Space Economy thematic report provides an overview of the space economy theme. It identifies the key trends impacting the growth of the sector over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends. It includes a comprehensive industry analysis, outlining the key growth areas and potential use cases.

Total Pages 68
Market Size (2022) $450 Billion
CAGR (2022-2030) 6% – 10%
Key Value Chain Components ·       Physical Layer

·       Connectivity Layer

·       Data Layer

·       App Layer

·       Services Layer.

Leading Listed Players ·       Astra Space

·       Boeing

·       L3Harris

Leading Private Players ·       Agnikul Cosmos

·       Arianespace

·       Blue Origin

Leading State-Owned Companies ·       Antrix

·       China Aerospace Science & Industry Corporation (CASIC)

·       China Aerospace Science and Technology Corporation (CASC)

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Space Economy Market Trends

The main trends shaping the space theme over the next 12 to 24 months are classified into technology trends, macroeconomic trends, and regulatory trends.

Technology Trends: Some of the key technology trends gaining traction in the space economy market include the growing popularity of small satellites, the development of new types of propulsion beyond chemical rockets, investment in the removal of space junk, ongoing R&D in microgravity manufacturing, and increasing space cybersecurity risks among others.

Macroeconomic Trends: The dominance of big players such as SpaceX, renewed interest in developing space weaponry owing to geopolitical tensions, and deterioration of Russia’s space sector among others are the key macroeconomic trends impacting space the economy market.

Regulatory Trends: Lack of global space regulations, minimal impact of regulation on private companies, and lack of uniform regulation for collisions and space debris among others are the prominent regulatory trends influencing the space economy theme.

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Space Economy - Industry Analysis

The space economy industry was worth $450 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) somewhere between 6% and 10% from 2022 to 2030. This growth can be attributed to an increase in the adoption of satellites, applications, and services around data communications, navigation, and Earth observation. Other growth drivers include falling manufacturing and launch costs, the entrance of non-Western companies in the space economy market, increased space militarization, and new uses for data points from space.

However, different scenarios indicate different growth rates for the space economy market over the coming decade. This is because of the issues that may restrict growth. The issues include a continuation of the currently challenging global economic environment, Russia’s permanent exit from the space economy, and whether Chinese companies can live up to China’s space ambitions.

The space economy industry analysis also comprises –

  • Timeline
  • M&A trends
  • Venture financing trends
  • Patent trends
  • Company filing trends
  • Hiring trends

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Space Economy Value Chain Insights

The space economy value chain is growing in complexity as it moves from an R&D-focused industry into the large-scale production and exploration of space. The value chain is divided into four core layers: equipment manufacturers, space operations, space applications, and space services.

Space services: The growing commercial space economy drives the development and delivery of regulatory, professional, and technical services. These services are provided to companies working in the space economy. They include space regulation, legal services, insurance, consulting services, networking, connectivity and communications, and cybersecurity. Each of these services demands a specialist capability be applied to an area of the commercial space world that is still a work in progress as an industry.

The Space Economy Value Chain Analysis

The Space Economy Value Chain Analysis

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Space Economy Industry – Competitive Landscape

Some of the public companies making their mark within the space economy theme.

  • Astra Space
  • Boeing
  • L3Harris
  • Lockheed Martin
  • Northrop Grumman

Some of the private companies making their mark within the space economy theme.

  • Agnikul Cosmos
  • Arianespace
  • Blue Origin
  • ICON
  • SpaceX

Some of the state-owned companies making their mark within the space economy theme.

  • Antrix
  • China Aerospace Science & Industry Corporation (CASIC)
  • China Aerospace Science and Technology Corporation (CASC)

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The space economy can be broadly defined as the full range of activities that create value and benefits for humans while exploring, researching, understanding, managing, and using space. Space is an extensive industry, and a vast number of companies are helping drive this new economy. From equipment manufacturers to space operations, applications, and services, these comprise many of the world’s most technologically advanced and innovative organizations.

Key Highlights

Space is no longer the sole domain of governments and incumbent aerospace and defense companies. Technological advances in manufacturing, propulsion, and the launch of rockets have made it much easier and less expensive to venture into space. Those businesses that pursued emerging opportunities have gained a first-mover advantage. SpaceX was the first private company to launch a spacecraft into orbit and return it safely to Earth. Today, SpaceX is charging clients $67 million per launch of the Falcon 9, its partially reusable medium-lift launch vehicle.

Investor interest, evident gaps in the market, and advancements in space technologies have led to a surge in start-ups entering the space economy in the last five years. Governments, too, see space as an opportunity and are investing in it. In August 2023, India’s Chandrayaan-3 was the world’s first spacecraft to land on the south pole of the Moon. In India, the successful landing led to a collective national celebration. Such events are rare. The unforgiving environment of space exploration is matched by the harsh financial reality of developing space technologies, which has made acquisitions of complementary companies, strategic suppliers, and partners more likely. The sector has become incredibly competitive, with various start-ups developing similar concepts for cost-effective rockets and satellites to rival the aerospace giants. In 2022, Eutelsat and OneWeb merged, while Viasat acquired Inmarsat in 2023. Market consolidation will continue.

Reasons to Buy

Understand the impact of the space economy theme. Access the latest data on the space economy theme across all sectors. Identify the leading technological advancements increasing investment into the space economy theme. Understand what leading players are doing in the space economy theme.

AAC Clyde Space
Aerospace Corporation
Alden Legal
Altius Space Machines
Axiom Space
BAE Systems
Blue Orbit
Blue Origin
Booz Allen
Burges Salmon
CAPE Analytics
CAS Space
Clyde & Co
Descartes Labs
DLA Piper
EchoStar (Hughes)
EOS Data Analytics
European Center for Space Law
Firefly Aerospace
GAIT Global
Galactic Energy
General Dynamics
Geospatial Insight
Global Space Consulting
Hogan Lovells
Impulse Space
Iridium Communications
Jones Walker
Kongsberg (KSAT)
L3Harris Technologies
Leaf Space
Lockheed Martin
Maana Electric
Maxar Technologies
Munich Re
NearSpace Launch
Northrop Grumman
Orbital Insights
PA Consulting
Parker Hannifin
Planet Labs
Reaction Engines
Relativity Space
RHEA Group
Rivada Space
Rocket Lab
Sierra Nevada (Sierra Space)
Space Pioneer
SpaceTec Partners
Spire Global
ST Engineering
Swift Geospatial
Telesat Communications
Tethers Unlimited
Thales Alenia Space
Thales Group
The Exploration Company
United Launch Alliance
US Air Force
Virgin Galactic

Table of Contents

  • 1. Executive Summary
  • 2. Players
  • 3. Technology Briefing

    • 3.1. Equipment manufacturers
    • 3.2. Space operations
    • 3.3. Space applications
    • 3.4. Space services

  • 4. Trends

    • 4.1. Technology trends
    • 4.2. Macroeconomic trends
    • 4.3. Regulatory trends

  • 5. Industry Analysis

    • 5.1. Market size and growth forecasts
    • 5.2. Timeline

  • 6. Signals

    • 6.1. M&A trends
    • 6.2. Venture financing trends
    • 6.3. Patent trends
    • 6.4. Company filing trends
    • 6.5. Hiring trends

  • 7. Value Chain

    • 7.1. Equipment manufacturers
    • 7.2. Space operations
    • 7.3. Space applications
    • 7.4. Space services

  • 8. Companies

    • 8.1. Public companies
    • 8.2. Private companies
    • 8.3. State-owned companies

  • 9. Glossary
  • 10. Further Reading
  • 11. Our Thematic Research Methodology
  • 12. About GlobalData
  • 13. Contact Us

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