The space industry is a multibillion-dollar market worth around $600 billion today and expected to reach $2.32 trillion by 2040. Investment is split between upstream and downstream activities. Upstream spending totals about $150 billion and covers production of infrastructure on Earth and in space, including launch pads, ground segments, and satellites. Downstream spending totals about $450 billion and focuses on space-based solutions such as positioning, navigation and timing, Earth observation, and satellite communications. NewSpace is characterized as a data business. Space travel has shifted from Cold War state-led competition to government clients and private providers, with reusable launch vehicles reducing costs and enabling new opportunities. Launch costs have fallen by 90% over the past 20 years.
"During the Cold War, it was primarily a race between the United States and the Soviet Union, with the impetus and funding coming from the state. But in about 2000, governments began to slip into the role of clients. Since then, private companies have been providing rocket launch services and developing satellites. Reusable launch vehicles have also made space travel significantly more affordable, opening up new business opportunities and paving the way for various applications. According to the US consulting firm McKinsey, launch costs alone have fallen by 90% over the past 20 years."
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]