This week, Deloitte released a forecast on the growth potential of the space industry. The report, which combines market data with a survey of space industry leaders, aims to background the execution in other industries that need to incorporate space into their businesses.
bottom line upfront
“For the space to grow, and to deliver on the promise of all these forecasts … it’s time for other Fortune 500 companies to understand their opportunity and their space and to experiment and try new things,” says Alan Brady, an analyst with the report. going to prepare for.” ,
To compile the report, analysts interviewed 60 space industry executives about various business sectors. The Deloitte team was trying to identify where innovation is happening, which segments are poised to see dramatic growth over the next few years, and which technologies may be commercially viable.
define development
Understanding the growth isn’t straightforward and analysts consider a number of metrics:
- Exponential growth in the sheer number of launches over the years
- Amount of investment flowing into various sectors
- Demand signals from the government for certain products and services
- Number of new satellites going into orbit.
The analysts’ ranking of sectors ripe for growth, however, was determined by survey data from space industry executives they spoke with.
- Leading Sector: Analysts have identified several segments that are likely to lead the pack in growth over the next three years. Those segments were, in order, satellite integration, components, launch vehicles, value-added services and payloads.
- Ripe for Innovation: Deloitte identified in-space servicing, additive manufacturing and space sustainability as areas where the technology could accelerate to look a little further into the future.
- Case for Space: Brady says the Deloitte analyst is still trying to incorporate non-space native Fortune 500 players and makes the case that space technology can and should be part of their strategy. “I hope that the capital markets and we as an industry find a way to preserve what is wonderful about that spirit of experimentation and variety and diversity, while providing a platform for so many different parts of this industry. continue to grind toward clear commercial viability.” Said.
This story originally appeared on payload and is republished here with permission.
Source: www.fastcompany.com
