The Year of Space Opportunity

As we welcome a new year, the remarkable achievements of 2024 in space exploration and the growing prominence of the space economy demand our attention.

- 

Space is no longer the exclusive domain of governments and scientists; it has transformed into a dynamic marketplace dominated by private enterprises. The World Economic Forum (WEF) and McKinsey predict that the space economy, currently booming, could be worth a staggering $1.8 trillion by 2035. Private companies have been at the forefront of this surge, with ambitious ventures and technological advancements reshaping the low-Earth orbit (LEO) landscape. Starlink, a subsidiary of SpaceX, epitomizes this revolution, having launched over 2,000 satellites in 2024 alone. Its mega-constellation of 6,000 satellites now ensures internet connectivity across more than 100 countries, underscoring the increasing commercialization of space-based services. Human activities in LEO also reached unprecedented levels, with 280 individuals visiting the International Space Station (ISS) last year, signaling a growing human presence in orbit. As space evolves into a vital economic and scientific domain, it holds the promise of redefining global dynamics.