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Future of The Space Economy

Image by: Sonya Vasilieff

Today Deloitte released a report on the future of the space economy, concluding that the economics of space have never been more compelling, and that growth in the global space sector is creating opportunities. While addressing key challenges is important for the space sector to grow and thrive, the time and the opportunity to act is now. Over the next decade, business models will likely shift from a few, very expensive and bespoke solutions to higher volume, lower cost, and more standard offerings... even as advances in technology, rapidly increasing private sector investment, and rising demand for space data propel growth in the sector.

It's worth noting that the study was conducted in December 2022, a few months before the collapse of Silicon Valley Bank, but most of the 51 references in the article are related to data from 2022 or 2023, making it a very timely report on a very large sector of the economy. In the long run, events like the SVB collapse won't materially effect the trajectory of the growing space economy.

The study also offers a notable nod to academia's contribution to innovation through research and development of science and space technologies, and through educating talent for the industry. That is very much in alignment with how we see our role at ARES Learning. As we prepare students for the growing space economy, our program emphasizes skill sets and mindsets they'll need to be successful as innovators, entrepreneurs, and leaders in humanity's rapidly approaching multiplanet future.

Learn more about the ARES Learning approach in the book Space Education: Preparing Students for Humanity's Multi-Planet Future by our co-founder Dr. Mark Wagner, and explore a complete Space Education Curriculum developed for high schools - it's a free and open education resource available to students, teachers, and enthusiasts everywhere.

Educators, sign up for online professional development based on the book and curriculum. And be sure to register for the FREE online Space Education Summit on April 21, 2023.

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