Read the full report below ??
Founder & CEO @ Evergreen Industries | Helping Defense Tech Founders Find Product-Mission Fit -- This is how we win!
?? The New Frontier: Unveiling the $1.8 Trillion Space Economy by 2035 ?? As we stand on the cusp of a new era in space exploration and commercialization, it's clear that the sky is not the limit but just the beginning. The latest World Economic Forum report, in partnership with McKinsey & Company, forecasts an astonishing growth of the global space economy to $1.8 trillion by 2035, up from $630 billion in 2023. Here’s why every founder, investor, and government should be on high alert: ?? Key Insights: Explosive Growth: The space economy is set to grow at a rate of 9% per annum, far outpacing the global GDP growth. This isn't just about launching satellites; it's about revolutionizing industries on Earth. Beyond the Stars: Space technology is deeply embedded in our daily lives, from the GPS that navigates us to the satellites that connect and protect us. It's about the weather forecast, your Uber ride, and even the security of national infrastructure. A New Playing Field for Innovation: Over 60% of the space economy's growth will be driven by non-traditional sectors, including ride-hailing apps, last-mile delivery services, and digital communication, proving that space is everyone’s business. Challenges as Opportunities: Beyond financial returns, space offers solutions to some of the world’s most pressing challenges - disaster management, climate monitoring, and global connectivity, emphasizing the role of collaboration between public and private sectors. Why This Matters: This isn’t just about the future of space; it’s about the future of humanity. The opportunities for innovation, economic growth, and addressing global challenges are boundless. The path to a $1.8 trillion space economy calls for unprecedented collaboration, innovation, and investment from all sectors. ?? The Call to Action: For founders, it's an invitation to innovate; for investors, a call to capitalize on the next big wave; and for governments, a challenge to facilitate and harness the potential of space for national and global benefit. The future is not to predict, it's to be created. This is how we win ?? ???? Read the full report below ?? #Future #Space #Innovation