Everything is Flying: How Space Tech Shapes Earth | Bloomberg Businessweek
From Bloomberg Businessweek
Ross Hamilton•Chief Operating Officer, Space Network
Executive Summary
The space industry is at a pivotal moment, driven by the commercialization of Low Earth Orbit (LEO) as NASA shifts its focus to deep space exploration and acts as a customer for private companies.
SpaceX is a central force, with its upcoming IPO expected to be a fundamental market shift.
Its Starlink division now constitutes over 50% of its revenue, which is projected to approach $20 billion by 2026.
A new geopolitical space race is underway, primarily between the U.S.
and China, with a strategic focus on returning to the Moon and mining its resources, particularly water ice at the south pole.
The long-term space economy, projected by Morgan Stanley to reach $1 trillion by 2040, will be dominated by data services and resource utilization, with launch services representing only a small fraction of the total value.
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Concerns Raised
NASA programs like Artemis face significant budget overruns and schedule delays.
Potential for delays in critical hardware, such as the new lunar spacesuits for the 2028 landing target.
Technological and regulatory hurdles remain for future concepts like space-based AI data centers.
Opportunities Identified
The opening of Low Earth Orbit (LEO) for commercial operations, with NASA as a key customer.
The massive growth of satellite internet services, exemplified by SpaceX's Starlink.
A new wave of investment and spin-out companies is expected following the SpaceX IPO.
The international race to mine lunar resources creates a demand for new technologies and supply chains.