Space is Booming - Here's How to Embrace the $1.8 Trillion Opportunity

Delivering sustainable economic growth
Jun 04, 2024 | World Economic Forum

By 2035, the space economy is set toreach $1.8 trillion, up from $630 billion in 2023 and averaging a growth rateof 9 percent per annum - a figure significantly above the growth rate of globalGDP. Space-based and/or enabled technologies such communications, positioning,navigation and timing; and Earth observation services are expected to be thekey drivers of this growth. NikolaiKhlystov and GayleMarkovitz of the World Economic Forum suggest that five sectors  - supply chainand transport; food and beverage; state-sponsored defence; retail, consumer andlifestyle; and digital communications – will generate 60  percent of the global space economy by 2035,although other sectors will also benefit.

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