Race To Invest In Space
The space industry is on track to experience massive growth over the next few years. In fact, Morgan Stanley estimates that the space industry could grow to more than $1 trillion by 2040.
While people have always studied space, the human experience of space has exploded since 1957, when the first satellite was launched. Other highlights included 1961, when the first person entered space, and 1969, when the first person stepped on the moon.
The technology used in space has also had major positive impacts on Earth. In particular, rocket technology and satellites are reducing costs and boosting connectivity. Rocket and satellite technology are also driving an increase in space-related commercial activity in three sectors: Products and services, infrastructure, and government stand to benefit the most.
Growth in these sectors will depend primarily upon ongoing investments, ongoing technological advancements, and the ongoing need for new resources.
As the space industry grows, we could also see growth in the following areas:
- Space Tourism: While only 8 of the 560 people who have been to space have been tourists, some companies are considering offering a vacation to space.
- Defense: Governments are looking to space as a frontier for defense.
- Resources Acquisition: As resources dwindle on Earth, space exploration could find new planetary bodies where we could obtain these resources.
As costs go down and technology and commercial activity increase, the space industry is opening up to public and private companies. As a result, startups can provide the economic investments to power the space industry forward. Check out our ideas for investing in space exploration.