WEF & McKinsey – Space, 2024

The space economy is set to grow to $1.8 trillion by 2035, impacting industries on Earth and offering solutions to global challenges. Space technology will play a crucial role in various sectors such as supply chain, transportation, and communication. Traditional and non-traditional players will benefit from the increasing space economy. Space exploration will not only generate revenue but will also contribute to disaster warning, climate monitoring, and humanitarian response. Public and private sector collaboration will be vital in ensuring space capabilities reach their full potential. The space economy will continue to transform through decreased launch costs, commercial innovation, diversification of investment, and cultural enthusiasm. Embracing space technologies will enable industries to drive the space industry forward and unlock economic, social, and geopolitical benefits. Collaboration, technological innovation, and financial competitiveness will determine the trajectory of the space economy, with potential revenues ranging from $1.4 trillion to $2.3 trillion by 2035. Leaders in the space industry will be those who understand and leverage the full potential of space technologies.