Space Industry Expected to Reach $1T In Revenue by 2040 Written 23 May 2022
SpaceX launches 43rd Starlink mission from Cape Canaveral Space Force Station. | Credit: SciNews; YouTube; framegrab
CNBC reported that the space industry “should reach $1 trillion in annual revenue by 2040, with launch costs dropping 95%, Citigroup analysts said in an extensive report published this month.” Citi said, “Revenue from manufacturing, launch services and ground equipment will make up the majority of the revenue growth in the satellite sector. However, the fastest growth rate is expected to come from new space applications and industries, with revenue forecast to rise from zero to $101 billion over the period.”
Full Story (CNBC)