The Thriving Space Economy

The global space economy is projected to grow significantly, potentially reaching 1.8 trillion dollars by 2035, nearly three times its current value. This growth is driven not only by traditional aspects like rockets and satellites but also by vital applications here on Earth, such as GPS technology, which underpins various industries and everyday activities. In fact, it is expected that by 2035, two-thirds of the space economy will involve terrestrial applications, highlighting the integration of space technology into daily life. Countries and companies are increasingly investing in satellite technology, recognizing its crucial role in national security and disaster response, with the number of active space agencies expanding from 40 to 75 in recent years.