Economy of Space
How space is shaping a new economy
Private Investment Amount
In 2020, private investment in space companies hit a record high of $8.9 billion and experts predict That number could reach $1.4 trillion by 2030. Bank of America
Investing in the Future
What was once a far-off frontier is now a hub for exploration and innovation. From futuristic new ideas to Earth-saving technologies, space is one of the fastest-growing industries in the world.
Within the last year alone, commercial space has become one of the most lucrative sectors in the world due to its explosive exponential growth.
Business of Space
The business of space connects to nearly every other industry:
From Healthcare to Robotics
Energy to Telecom
Manufacturing to Materials Science
Technology to Tourism
While space tourism brings everyone from cancer survivors to Hollywood icons into space, companies are building the technology and infrastructure to improve life on Earth and address some of the most important issues of our time.
Chris Kemp Quote
"Our sphere is trying to get a whole new economy in low Earth orbit, and it's meant to improve life on Earth." Chris Kemp, Astra Founder, Chairman and CEO
Space for Earth
Companies like Astra are building technology for low Earth orbit to Improve Life on Earth from Space®, starting with launch services and propulsion for satellites. The spacetech industry is growing rapidly to connect and protect our planet. Examples of the potential of this technology includes monitoring and tracking wildfires and tropical storms, and improved internet and mobile connectivity worldwide.
Satellites help to detect and study natural disasters on earth. 2021 saw nearly 60,000 wildfires across the globe Insurance Information Institute
Make Space for Everyone
Astra is working to offer frequency and flexibility for customers to deliver satellites to space. These efforts not only make space accessible for a wider range of companies to launch and explore new technology, but they also fuel the fire of competition, pushing towards a future for all in space.
Constellations of satellites in orbit provide real-time data and the internet around the globe. Once in space, propulsion technology allows constellations of satellites to change orbits for a wide variety of use cases.
Satellites enable internet connectivity in even the most remote parts of the world. However, nearly half of the world's population still lacks internet access. United Nations
With thousands of internet satellites already in orbit and many thousands more planned to launch into orbit, manufacturing and launch technology are just the beginning of what it takes to make these ambitious goals of worldwide connectivity a reality.
Millions of pieces of debris small and large from defunct satellites, rockets, and more remain trapped in Earth's orbit, cluttering the space and increasing the risk of collision with working technology. Companies are taking note, and developing the technology needed to prevent and manage space debris. Organizations like World Economic Forum (WEF) are implementing the Space Sustainability Rating (SSR), a new, innovative way of addressing the orbital challenge by encouraging responsible behavior in space through increasing the transparency of organizations' debris mitigation efforts.
Additionally, technological creativity is leading to the development of satellites that don't interfere with astronomical observations.WEF
Science in Space
The International Space Station (ISS) is a hotbed for innovation, new technology, and commercial interests.
Lab in the Sky
Companies operating on Earth now routinely test new pharmaceutical compounds in space. With the unique microgravity environment on board orbiting laboratories, researchers can learn more than ever about how different solutions and formulations behave, leading to breakthroughs in vaccine development, cancer therapies, and over-the-counter medications.
The unique microgravity environment on board the ISS enables groundbreaking research in vaccine development and immunotherapy.
Pharmaceuticals are now developed routinely in space, but even bolder medical advancements have happened thanks to the space station. Using the space station's unique environment, researchers were able to develop the artificial retina.
Future of Food
Even food has a future in space. Astronauts on the space station are exploring new ways to grow everything from hot peppers to romaine lettuce. Not only will this develop techniques critical to humanity's hopeful future in space, such as on the Moon and Mars, but this research can also have a profound impact on making agriculture more sustainable here on our home planet.
A Future of Innovation
Hundreds of science experiments launch regularly to the International Space Station that contribute to an endless cycle of research and innovation in orbit. The ISS lab is also expected to retire within a decade and be replaced by future commercial space stations that will only grow the presence of industry in outer space.Photo: SpaceX
Return to the Moon
NASA is well on its way to returning to the Moon for the first time since the Apollo program and that famous "one small step." The private and public sectors are working together to develop a sustained human presence on the Moon, the next step on humanity's journey to Mars.
New Lunar Lander
In a true partnership between agency and commercial space, NASA recently awarded SpaceX a $2.89 billion contract to build its new lunar lander that will land the next humans on the moon. New York Times
With its Artemis program, NASA is swiftly working towards the goal to make this lunar landing happen by 2025 at the earliest. The agency has already tapped private companies to build everything, including the lunar lander that will take history-making astronauts from space down to the moon's surface and Gateway, a lunar-orbiting outpost.
Looking to the Future
This journey back to the Moon is the first since 1972, and NASA knows that its success depends on collaboration with industry partners. The agency also intends to go to the Moon and stay, developing a sustainable long-term presence on the lunar surface.
Continue to Expand
From the Moon to Mars and one day far beyond, our once small steps are growing into greater strides, and industry's role in the exploration of space will only continue to blossom and expand.This content was created in collaboration with Astra Space, Inc. The views and opinions expressed in this website do not necessarily reflect those of Nasdaq, Inc.
See Where Space Can Take Us
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