Euroconsult estimates that the global space market grew by 8% last year and is expected to reach over $737B within a decade.
The majority of the sector’s value (83%) is in space-based end-user applications, an area of the space economy covering telecommunications, Earth observation and companies utilizing satellite navigation to deliver services to their customers.
Euroconsult estimates that the “core” space sector – organisations that make or own space assets – will grow from $70B in 2022 to $100B by 2031 with segments such as manufacturing, launch services and the ground segment driving this growth.
Euroconsult reports that investments recorded in the last year have decreased by more than 10% when compared to 2021. They also report that industry investors are now focusing on cash-generating companies or early start-ups that require low levels of capital rather than higher risk investments into pre-revenue enterprises that occurred regularly in the preceding years. This has led to a slowdown of new investment into the sector with the average investment value dropping between 2021 and 2022 from $71M to $33M.
Source: Euroconsult press release