Invest In The Future Of Space: The Next Trillion-Dollar Industry | NuWealth (2024)

Launching into the good, the bad, and the ugly

Every year, from October 4th to October 10th, over 95 countries observe “World Space Week” - an opportunity for education and outreach about Space, science, and technology. Events can include school activities, exhibitions, government events, and more. Each year, a unique theme is chosen - this year, it’s “Space and Sustainability”.

Why should you care?

Space exploration can seem so far away and disconnected from our lives here on Earth, but in fact, human space exploration helps to answer important questions about our history and place in the universe and solar system. Our expansion into space research has also allowed us to expand our knowledge about technology, build new industries, revolutionise how we communicate and connect with the world around us, and improve international relations. Beyond the lofty sci-fi-esque goals of terraforming planets or finding extraterrestrial life, there are also immediate scientific benefits to space research, such as providing the perfect environment to prove or disprove scientific theories, and testing materials, among others.

Invest In The Future Of Space: The Next Trillion-Dollar Industry | NuWealth (1)

Money Talks

If that wasn’t evidence enough of the importance of this sector, the money backs it up, too. The space industry grew at its fastest pace in years to reach a record $469 billion in annual global spending in 2021, and is showing no signs of slowing down. According to Citigroup, the industry could reach up to $1 trillion in annual revenue by 2040.

Invest In The Future Of Space: The Next Trillion-Dollar Industry | NuWealth (2)

The Challenge

However, all of this good stuff does come with its own challenges. We’ve come a long way since our first telescopic observations of space all the way back in 1610, and the first rockets to enter the exosphere in 1956 - today, thousands of satellites have been successfully launched into Earth’s orbit. In addition, the SSN, or the US Department of Defense’s global Space Surveillance Network, recently published a report stating that there are over 27,000 pieces of “space junk” revolving around our home planet. While space itself is huge, Low Earth Orbit or LEO (which hosts most of the artificial objects) is limited.

This is problematic as it may eventually prevent new satellites being launched - an issue that may end up causing international tensions as nations fight over the remaining space (pun not intended). There are fears that collisions within the LEO could potentially lead to catastrophic chain reactions. In fact, even today, this overcrowding is already causing issues and getting in the way of Space Missions.

So, what can be done?

With these concerns around sustainability becoming more prominent, organisations such as the Secure World Foundation, or SWF, are strongly pushing for more efforts to be directed towards addressing these fears to enable continued space activity and research, for the benefit of the Earth and all its people. Voluntary agreements have been drafted to limit companies’ adverse impacts, as well as international codes of conduct, and proposals for transparency and longer term sustainability plans. These initiatives aren’t limited to private companies, however - the threats regarding the lack of space sustainability are being recognised even at governmental levels. To tackle this growing problem, international cooperation and response is essential, and it looks like people are pretty willing to get on board, recognising the universal benefits that will come of a cleaner (and longer term) access to space for years to come.


Explore more

You can invest in a range of ETFs &stocks with NuWealth's standard account plan, priced at £1 per month plus 0.01% pa account fee - unlock ISAs, round ups, automated investing, curated stocks and ETFs, and more, today. Capital is at risk.

Invest In The Future Of Space: The Next Trillion-Dollar Industry | NuWealth (2024)

FAQs

What is the next trillion dollar industry in the future? ›

Money Talks

The space industry grew at its fastest pace in years to reach a record $469 billion in annual global spending in 2021, and is showing no signs of slowing down. According to Citigroup, the industry could reach up to $1 trillion in annual revenue by 2040.

Is space a good industry to invest in? ›

It is growing rapidly, driven by multiple factors including the increasing demand for satellite-based services, the untapped potential of asteroid mining and the development of space tourism. According to a Morgan Stanley report, Space Tech's market potential should reach $1 trillion by 2040.

Why is space a good investment? ›

The money that governments spend on space programs positively impacts their economies. It supports highly skilled jobs, fuels technology, advancements and creates business opportunities that feed back into the economy.

Why invest in space technology? ›

A big part of the investment appeal is the exponential growth in data collected and transmitted by satellites, which could drive a step change in insight-generation, efficiency and innovation in finance and virtually all other industries.

What are the next trillion dollar stocks? ›

What are the next trillion-dollar stocks?
Company (symbol)Market capStock growth (3-year average growth)
Source: Google Finance, as of July 2, 2024
Berkshire Hathaway (BRK-B)$876 billion13%
Eli Lilly (LLY)$862 billion57%
Broadcom (AVGO)$772 billion52%
7 more rows
Jul 2, 2024

What's the next booming industry? ›

According to Bureau of Labor Statistics data collected by our research team, industries in the leisure and hospitality sector and the health-care and social assistance sector are projected to have the biggest increase in employment in the U.S. between 2022 and 2032.

Why do billionaires invest in space? ›

Why are billionaires racing to space? Each of these billionaires claims to have been fascinated by the idea of space travel ever since their childhood. As businessmen, however, they can also see a tremendous opportunity to make money by exploiting resources in space.

What is the future of the space industry? ›

1. Space will be a larger part of the global economy. By 2035, the space economy is set to reach $1.8 trillion, up from $630 billion in 2023 and averaging a growth rate of 9% per annum – a figure significantly above the growth rate of global GDP.

What are the benefits of space industry? ›

Overcoming the challenges of working in space has led to many technological and scientific advances that have provided benefits to society on Earth in areas including health and medicine, transportation, public safety, consumer goods, energy and environment, information technology, and industrial productivity.

How does space help the economy? ›

NASA's unique mission provides benefits in big and small ways. Dollars spent for space exploration create jobs, jumpstart businesses, and grow the economy. Our innovations improve daily life, advance medical research, support disaster response, and more. We're constantly evolving and finding new ways to add value.

What are 5 disadvantages of space exploration? ›

These include space radiation, isolation and confinement, distance from Earth, gravity (and the lack of it), and closed or hostile environments.

Which industry will be biggest in future? ›

The fastest-growing sectors include fintech, renewable energy, biotechnology, and digital transactions, among others. If you are looking to capitalise on future growth, this list of fast-growing industries in India and future growth sectors can help you make the most of India's economic potential in 2024.

What is the next trillion dollar strategy? ›

The Strategy aims to deliver superior returns by investing in stocks from sectors that can benefit from the Next Trillion Dollar GDP growth. It aims to predominantly invest in Small and Mid Cap with a focus on identifying potential winners that would participate in successive phases of GDP growth.

What industry will boom in 2025? ›

5 Businesses That Will Be in Demand in 2025 and Beyond
  • Digital education. Digital education, also known as education technology or edtech, is expected to increase to $136 billion by 2030, a CAGR of 25.1%. ...
  • Virtualization software. ...
  • Cannabis edibles. ...
  • 5G security and other services. ...
  • Telemedicine.
Jun 27, 2024

What will be the biggest industry in 2050? ›

  • Renewable Energy and Sustainability: ...
  • Artificial Intelligence and Automation: ...
  • Biotechnology and Healthcare: ...
  • Space Exploration and Commercialization: ...
  • Advanced Manufacturing and 3D Printing: ...
  • Cybersecurity: ...
  • Agriculture and Food Technology: ...
  • Virtual Reality and Augmented Reality:
Aug 29, 2023

Top Articles
REITs vs Stocks: Which Should You Invest In?
Desktop Application Testing vs Web Application Testing
Exclusive: Baby Alien Fan Bus Leaked - Get the Inside Scoop! - Nick Lachey
Odawa Hypixel
Dollywood's Smoky Mountain Christmas - Pigeon Forge, TN
New Day Usa Blonde Spokeswoman 2022
Blue Ridge Now Mugshots Hendersonville Nc
Knaben Pirate Download
Reddit Wisconsin Badgers Leaked
The Largest Banks - ​​How to Transfer Money With Only Card Number and CVV (2024)
Sport-News heute – Schweiz & International | aktuell im Ticker
Nesz_R Tanjiro
Band Of Loyalty 5E
Quadcitiesdaily
Melissababy
Veracross Login Bishop Lynch
Aes Salt Lake City Showdown
C&T Wok Menu - Morrisville, NC Restaurant
Bill Remini Obituary
Jermiyah Pryear
55Th And Kedzie Elite Staffing
§ 855 BGB - Besitzdiener - Gesetze
Gillette Craigslist
Tinyzonehd
130Nm In Ft Lbs
Isablove
The Posturepedic Difference | Sealy New Zealand
91 Octane Gas Prices Near Me
A Plus Nails Stewartville Mn
Halsted Bus Tracker
Siskiyou Co Craigslist
Truis Bank Near Me
Reli Stocktwits
Chattanooga Booking Report
Avance Primary Care Morrisville
Snohomish Hairmasters
Ludvigsen Mortuary Fremont Nebraska
Doordash Promo Code Generator
Hkx File Compatibility Check Skyrim/Sse
Craigslist Antique
Pathfinder Wrath Of The Righteous Tiefling Traitor
Caphras Calculator
Sacramentocraiglist
Erespassrider Ual
Marine Forecast Sandy Hook To Manasquan Inlet
Sitka Alaska Craigslist
Diccionario De Los Sueños Misabueso
Osrs Vorkath Combat Achievements
Chitterlings (Chitlins)
Obituary Roger Schaefer Update 2020
All Obituaries | Roberts Funeral Home | Logan OH funeral home and cremation
Fetllife Com
Latest Posts
Article information

Author: Greg Kuvalis

Last Updated:

Views: 6385

Rating: 4.4 / 5 (75 voted)

Reviews: 90% of readers found this page helpful

Author information

Name: Greg Kuvalis

Birthday: 1996-12-20

Address: 53157 Trantow Inlet, Townemouth, FL 92564-0267

Phone: +68218650356656

Job: IT Representative

Hobby: Knitting, Amateur radio, Skiing, Running, Mountain biking, Slacklining, Electronics

Introduction: My name is Greg Kuvalis, I am a witty, spotless, beautiful, charming, delightful, thankful, beautiful person who loves writing and wants to share my knowledge and understanding with you.