A World Economic Forum study conducted in collaboration with the consulting firm McKinsey indicates that the space-related economy will be worth US$1.8 trillion by 2035 thanks to the falling cost of satellites, the lower cost of placing them in space and the expansion of their applications. Today, the report notes, earth observation from space is evolving and finding a growing number of uses. "Space technologies are delivering a lot of value to a more diverse set of stakeholders," Sebastian Buckup, a member of the World Economic Forum's Executive Committee, points out. "As their costs come down and their accessibility increases, these technologies can reshape entire industries and have as much impact on business and society as the smartphone or cloud computing did."

The growth of the space economy up to 2035 will be around 9% per year, much higher than the growth of global GDP, so its weight in the total economy will increase. The main drivers of this will be communications, positioning and navigation technologies. The study notes that by 2035, five sectors - transportation and supply chain, defense, retail and consumer, and digital communications - will generate 60% of the space economy.

The study also emphasizes that space businesses offer more than just financial returns. They will be key to mitigating some of the challenges facing the world, such as disaster warnings, climate monitoring or improving humanitarian responses.

You can access the study here Space economy | World Economic Forum (weforum.org)