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Apr 8, 2024 · About the authors. We estimate that the global space economy will be worth $1.8 trillion by 2035 (accounting for inflation), up from $630 billion in 2023. This figure includes both “backbone” applications—such as those for satellites, launchers, and services like broadcast television or GPS—and what we term “reach” applications ...
Apr 8, 2024 · Space technologies can tackle many of the world’s most pressing business and societal challenges. This report by the World Economic Forum and McKinsey & Company shows that lower costs and improved access to space-enabled technologies such as communications; positioning, navigation and timing; and Earth observation services could take the global space economy to $1.8 trillion by 2035, up from ...
Apr 8, 2024 · 1. Space will be a larger part of the global economy. By 2035, the space economy is set to reach $1.8 trillion, up from $630 billion in 2023 and averaging a growth rate of 9% per annum – a figure significantly above the growth rate of global GDP. Space-based and/or enabled technologies such communications; positioning, navigation and timing ...
Apr 8, 2024 · The report – Space: The $1.8 Trillion Opportunity for Global Economic Growth – developed in partnership with McKinsey & Company, finds that in an increasingly connected and mobile world, the space economy’s impact will expand far beyond space itself, becoming more about connecting people and goods. While space activities, such as space infrastructure and satellites, launch and ...
Space will be a larger part of the global economy by 2035. The space economy is forecast to reach $1.8 trillion by 2035, up from $630 billion in 2023. Space will become more about connecting people and goods. Five industries – supply chain and transportation; food and beverage; state-sponsored defence; retail, consumer goods and lifestyle ...
Mar 22, 2023 · Get the Deloitte Insights app. This growth in the global space sector is creating opportunities for new players and new offerings for incumbent ones. 2022 was a record year for the space sector, with 186 successful rocket launches (41 more than in 2021)—the most ever, 2 signaling a rapid transformation of the space sector.
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May 30, 2024 · On this episode of The McKinsey Podcast, McKinsey senior partner Ryan Brukardt speaks with global editorial director Lucia Rahilly about the global space economy, where innovation in space-based technology is generating a range of public- and private-sector opportunities that could reach $1.8 trillion by 2035 1 Space: The $1.8 trillion opportunity for global economic growth, McKinsey, April 8 ...
