The Case for Space - Transforming Economies and Societies As we approach the dawn of a new era, the space economy is set to transform industries and societies globally. Let us take a look at the highlights from ‘The Case for Space’ published by McKinsey & Company lately: · Rapid Growth: The space economy is projected to almost triple in the next decade, soaring from $630 billion to $1.8 trillion. This explosive growth is driven by both government initiatives and private sector innovations. · Job Creation: Space exploration is not just about astronauts. It is creating high-tech jobs in science and engineering, even in countries that do not launch their own astronauts. · Technological Advancement: Space-based technologies are increasingly solving real-world problems, such as improving agricultural practices, enhancing telecommunications, etc. · Space Race: The new space race is intensifying, with more countries and private companies entering the battle. Such competition encourages significant technological advancements and economic activities. · Regulatory Challenges: As the space industry expands, it faces regulatory challenges such as managing space debris and privacy under the advancement of tracking mobility. · Environmental Protection: With the initiation of space mining and other commercial activities, there is a growing need for ethical and sustainable practices to protect space environments. · Accessibility: The cost of accessing space has dramatically decreased, and it is becoming more feasible for various sectors to leverage space technologies for everyday applications. Why does it matter? Advancements in space technology are not just about exploring new frontiers. They are about creating tangible benefits on Earth, driving economic growth, job creation, and innovative solutions to global challenges. Thus, integrating space into strategy seems to be a wise choice for both public and private sectors, as it will leverage the potential of space to drive better outcomes for customers and communities. Reference: McKinsey & Company, ‘The Case for Space’ https://lnkd.in/erHPfsmV #spaceindustry #spaceeconomy #spacerace #innovation #technology #jobcreation
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McKinsey :: The case for Space “… Most people probably don’t realize just how much their daily lives interact with space. Every day, people get in cars assisted with navigation by GPS. Every day, people order food online, assisted by both communications and navigation provided by space assets. The presence of space in our lives is probably more ubiquitous than people think. However, what really has happened in the last several years is access to space, the ability to get to space — the cost of that has come down dramatically (...) The number of space agencies has grown. It used to be a very, very small number. And now you see many in the Middle East, in Asia, even appearing in Europe (...) Even if a country can’t launch astronauts from its own soil, for example, it might develop its space economy by providing high-tech components for satellites, for launch vehicles, etc. (…) If you want to engineer and design high-tech components to be launched into space, you need to have engineers and scientists who understand that technology. You need to have universities that can produce those and a secondary-education system that gets people interested in it. Many countries thinking through this emerging space economy come all the way back to how they think about their education systems and where, over the next 20 years, they’re going to generate economic returns for their GDP…” https://lnkd.in/duF2Exed
The case for space
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The Space Startup Reinventing the Space Station (With an Inflatable Innovation Stronger Than Steel) Here's The Master Plan of Sierra Space: Imagine humans living and working comfortably in space, carrying out groundbreaking research to transform industries and improve life on earth. That's the bold vision of Colorado-based Sierra Space. Their pioneering concept: The Large Integrated Flexible Environment (LIFE) habitat. LIFE launches on a conventional rocket. Once in orbit, it expands into a three-story structure. The key to its strength? A "Vectran" fabric weave pressure shell that becomes "up to 5 times stronger than steel once inflated". Inside a LIFE habitat, you'll find: → Sleeping quarters for 4 astronauts → Room for science experiments and research → Exercise equipment and medical facilities → An innovative garden system for fresh produce One reporter describes it as a "cross between a yurt and hot-air balloon." But LIFE is more than a living space. It's also a platform for microgravity manufacturing. Where the unique properties of space can be exploited to create new, superior versions of materials impossible to make on Earth. • Brand new pharmaceuticals • Improved electronics Sierra Space recently put LIFE through a successful "ultimate burst pressure" test, proving its incredible strength and resilience. And LIFE's inflatable design offers key advantages over traditional space stations: • Faster and cheaper to deploy • Lighter and more compact for launch • Easily configurable for different missions • Expandable for larger habitable volumes Sierra Space CEO Tom Vice says "We really see we're on the cusp of the most profound Industrial Revolution in history. "Instead of just a handful of astronauts going to a government-owned space station ... we're talking about commercialisation of low-earth orbit. "Let's use space in a way that lets us find that next breakthrough product that benefits us here on earth." With its innovative LIFE habitat, Sierra Space is helping pave the way forward. An era where anyone can live and work in space, where microgravity manufacturing can transform industries, and where the dream of human settlement beyond Earth is closer than ever. That's the bold future Sierra Space is helping to build. (Image from Sierra Space website)
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Celebrating World Space Week in the Great South West 🚀 The Great South West is a driving force in the UK’s space industry, with over 60 companies leading in innovation, sustainability, and global impact. Here’s how some of our region’s top organisations are shaping the future: 🌍 Goonhilly Earth Station Ltd, a world-renowned satellite communications centre, is supporting global space missions, building the world’s first private deep space communications network and collaborating with NASA and ESA. 🚀 Spaceport Cornwall is the UK's first horizontal launch spaceport, enabling responsible and cost-effective satellite launches, and promoting a more accessible space economy. ⛈️ The Met Office’s work in satellite-based climate and weather forecasting is setting global standards, helping to shape our understanding of climate science. 🌊 The UK Hydrographic Office uses satellite data to ensure safe maritime navigation and sustainability across our oceans. These organisations, and many more across the region, are not only advancing space technology but also highlighting the power of collaboration within the Great South West’s growing space ecosystem. #WorldSpaceWeek2024 #SpaceInTheSouthWest #Innovation #Sustainability Cornwall Space Cluster South West Regional Defence & Security Cluster Ian Jones OBE FIET CEng Ross Hulbert
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Is Space Truly Accessible to Everyone? 🛰️ Ever since I was born, I was fascinated by the idea that Earth isn't the only planet in our vast universe. The notion that other worlds are within our reach, just a glimpse away if only we had the time and resources, has always intrigued me. Recently, I completed a specialized education in Aerophysics and the New Space Economy through programs offered by Harvard Business School, ISAE, and EPFLx. Remarkably, I achieved this without spending a dime—proof that you can explore the boundaries of space knowledge with minimal investment. Yet, despite these opportunities, the space industry remains elusive to most. In 2024, only 10 astronauts will graduate, a reminder that space travel is far from commonplace. While space tourism might still be a distant dream for many, emerging subfields are making space more accessible. Areas like space economy, space engineering, space data analysis, and space sustainability are opening doors for those of us passionate about the cosmos. These disciplines are crucial as they pave the way for those 10 astronauts to embark on missions that could redefine humanity's future. But what if other civilizations 👽 were graduating 20, 100, or even 1,000 astronauts every year? Would they have found us by now? Would we be collaborating across galaxies, or perhaps facing extinction? Either way, these questions push us to think about our place in history. The space industry is a $445 billion market, and there's room for everyone to contribute, regardless of your current job or daily activities. We each have a role to play in shaping the future of space exploration. It's time to leave our mark and start building for humanity's next great leap. Don’t you agree? #SpaceExploration #SpaceInnovation #BuildForHumanity
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World Space Week is officially defined as "an international celebration of science and technology, and their contribution to the betterment of the human condition". World Space Week is an annual holiday observed from October 4th to 10th in over 95 nations throughout the world. This year, we are excited to launch our first #milestone after our recent grant funding from the Australian Space Agency. After years of innovation & development , I’m excited to announce the official launch of Metakosmos®'s propietary software for mission-critical #human operations! 💡✨#KERNEL360 , being designed to NASA Class A Human Rated system standards is capable of generating intelligence across segments like suit telemetry , human performance & environmental parameters. We’ve built this platform with one goal in mind: building access to human spaceflight lifecycle to millions by making the infrastructure acessible through data driven insights. We’re already seeing incredible feedback from subject matter experts , and we can’t wait to roll it out to more partners across various industries. A huge thanks to our talented team and amazing partners for making this vision a reality. I truly believe this is going to change the way companies approach humans in critical operations. For those that asked me in the early days, what makes a spacesuit company unique and what are the foundational capabilities ? The answer lies at the intersection of: 1) Technical Textiles 2) Advanced Materials & Composites 3) Novel manufacturing capabilities 4) Life Support Systems 5) & last but not the least - Human physiology and performance When you read the next big headline about spacesuits, watch out for the contributions in the above segments. Being the first commercial tool in the segment does help but widespread adoption is the key! Here is the infomercial of Kernel360. Off to the next milestone !! #humanspaceflight #humanperformance #spacesuits
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🌌 The Future of Space Economy: Key Drivers and Innovations 🚀 Launch Sites and Rocket Technology: A New Era The year 2024 is poised to be a pivotal one for the space industry, thanks to innovations in rocket technology and the expansion of launch sites. In 2023, there were 207 successful orbital launches, with the United States leading with 108 launches. SpaceX played a key role, setting new records for rocket reuse and promoting commercial launches. Innovative agreements, such as the one between Phantom Space and Vaya Space, demonstrate new strategies for optimizing the use of launch complexes. Space Tourism: An Explosive Growth Trajectory Space tourism is set to boom, with an expected compound annual growth rate (CAGR) of 49.9% from 2024 to 2030. This growth is fueled by technological advancements and increasing interest from high-net-worth individuals. As the market expands, challenges related to safety and sustainability remain crucial focal points. Sustainable Operations: Ensuring Long-Term Viability Sustainability in space operations is becoming increasingly critical. The industry is focusing on debris management and the development of in-space servicing and manufacturing capabilities. Experts from Astroscale U.S. emphasize the importance of sustainable practices to mitigate space debris and ensure the long-term viability of space activities. Global Competition and Collaboration The space race between the United States and China is intensifying, with both countries heavily investing in space technology and exploration. This rivalry drives innovation and accelerates the development of next-generation launch vehicles and lunar landers. Collaboration between private companies and government agencies like NASA is also pivotal in shaping the future of space exploration and commercialization. A Dynamic Future Ahead The space economy is set to revolutionize global connectivity and technological innovation. With increasing commercialization, advancements in satellite technology, and a burgeoning space tourism market, the future of space exploration holds immense potential. Stakeholders around the world are closely watching these developments, ready to capitalize on future opportunities. Stay tuned for more updates on the dynamic world of the space economy. #SpaceEconomyMaster #SpaceEconomy #NewSpace #NewSpaceEconomy #SpaceEconomyInstitute #Space
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Worth to read: MEXICO SAYS “YES” TO SPACE: Is clear that all the efforts of the teamwork of different sides of the equation has proven to Mexico that the space industry is here to stay and we need it, as society in order to keep moving forward not only as humans but as the well fare of the planet. It is very clear that with all of our country’s current resources and efforts devoted to the space industry, Mexico now has a vested position in the global promotion and development of space products and all of the related future commercial opportunities. The welfare of the human race and of the planet earth depend on the exploration of space and the benefits it can provide for our future. Mexico need national proud companies that have been there since the beginning breaking stone walls and opening paths, companies that are genuine, honest and truthful, knowledgeable and committed to our country and people to provide more jobs, technology development, to stop the export of talent and currency, to bring the companies to Mexico for Mexico and the world and be part of the actors and not only users. That is the kind of company we are, we been walking this road for eight years with firm steps and caution decisions, in order to be able to cooperate with Mexico and the private sector to help develop the sector in collaboration with government, education and industry. We have moved forward, step by step, to coordinate space activities available to Mexico in the private and government sectors. This cooperation included the coordination with the Mexican Federal Government, educational institutions and Universities and the national aerospace. We have been involved in all of the processes available to us including: trade shows; meetings with NASA, ESA; inter government panels, and business activities with our vast commercial resources in Mexico. There has been no stone that has not been overturned to find opportunities for our space industry. Our goal has been to seek environmentally friendly avenues and at the same time guide the products and services to our home country of Mexico. Our company is not only devoted to produce environmentally friendly services that help our planet and humans, but also we are prepared to bring the entire space ecosystem to Mexico. Satellite design, ground satellite stations, earth observation, data analysis, rocket launches, launching platforms, satellite operation, design and engineering, test model production, inter agency collaboration, international space cluster that gathers more than 800 companies downstream and upstream and collaboration with all the most important technologically advance companies related with the most important verticals. We deem necessary to display this message due to the number of companies we have been observing with false promises that will affect the industry real Mexican reputation. SPACE. Sky is the limit no more.
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Sierra Space is pioneering the next #frontier in space habitation with its LIFE® technology, a revolutionary inflatable space station concept. As the International Space Station approaches retirement, Sierra Space is leading the charge towards a commercial space station built on an inflatable soft goods platform, offering a more cost-effective and scalable solution for extended missions not only in Low Earth Orbit (LEO) but also humanity's future lunar and deep space missions. The LIFE technology, known as Large Integrated Flexible Environment, utilises tightly woven fabrics that's up to five times stronger than steel when inflated, providing a spacious and durable interior suitable for accommodating astronauts and conducting scientific research. This inflatable structure, exemplified by the LIFE 285 model, is designed to house anywhere from four to twelve people, equipped with essential supplies and workspaces- an Astro Garden® for fresh produce, sleeping quarters, and medical facilities. Sierra Space has achieved promising milestones in testing its LIFE technology, surpassing NASA's safety recommendations and demonstrating resilience under extreme conditions. With plans to expand testing and introduce larger models like the LIFE 500, Sierra Space aims to revolutionise commercial space exploration, enabling longer missions to the Moon, Mars, and beyond. Their advancements signify a pivotal step towards sustainable human presence in space and exciting possibilities for the future of #SpaceExploration. To learn more, head on to: https://lnkd.in/enBvTqXu #EmergingTechnologies #SpaceExploration
Building the World’s First Commercial Space Station | Sierra Space
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The Advancement of Space Technology For many years, human curiosity and ingenuity have been led by space technology. Our exploration of space and the technology that make it possible have advanced at an astounding rate, starting with the momentous moon landing in 1969 and continuing with the deployment of powerful satellites circling the Earth. #AdvancementsinSatelliteTechnology #AdvancementsinSpaceExploration #AdvancementsinSpaceTechBenefitsforEarthfromSpaceExplorationandSatellites #andEarthlyBenefits #EarthlyBenefitsofSpaceExplorationAComprehensiveGuide #EarthlyBenefitsofSpaceTechnologyHowSpaceExplorationandSatellitesareImprovingOurLives #FactorsofSpaceTechnology #HowNewSpaceTechnologiesAreImprovingOurLivesonEarthAComprehensiveGuide #HowNewSpaceTechnologiesareRevolutionizingEarthObservation #HowNewSpaceTechnologiesareRevolutionizingEarthObservationandClimateMonitoring #HowSpaceTechnologyisChangingOurWorld #HowSpaceTechnologyisChangingOurWorld(fortheBetter) #OneInnovationataTime #OverviewofSpaceTechnology #SatelliteTechnology #SatelliteTechnologyRevolutionizingOurWorld #SatelliteTechnologyThePowertoConnectandInnovate #Science #SpaceExplorationFromDreamstoReality #SpaceTechnologiesBenefitingLifeonEarth #SpaceTechnology #SpaceTechnologyAGlimpseintotheFutureofEarthlyInnovation #SpaceTechnologyDrivingInnovationonEarthandBeyond #SpaceTechnologyHereisWhatYouCanAccomplishWithThem #SpaceTechnologyRevolutionizingEarthwithAdvancementsinSpaceExploration #SpaceTechnologyTheEarthlyBenefitsofSpaceExplorationandSatelliteTechnology #SpaceTechnologyTheFutureofEarthisintheStars #SpaceTechnologyTheNextFrontierofEarthlyInnovation #SpaceTechnologysImpactonOurPlanetALookattheFuture #TheAdvancementofSpaceTechnology
How Space Technology is Changing Our World (for the Better)
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The Advancement of Space Technology For many years, human curiosity and ingenuity have been led by space technology. Our exploration of space and the technology that make it possible have advanced at an astounding rate, starting with the momentous moon landing in 1969 and continuing with the deployment of powerful satellites circling the Earth. #AdvancementsinSatelliteTechnology #AdvancementsinSpaceExploration #AdvancementsinSpaceTechBenefitsforEarthfromSpaceExplorationandSatellites #andEarthlyBenefits #EarthlyBenefitsofSpaceExplorationAComprehensiveGuide #EarthlyBenefitsofSpaceTechnologyHowSpaceExplorationandSatellitesareImprovingOurLives #FactorsofSpaceTechnology #HowNewSpaceTechnologiesAreImprovingOurLivesonEarthAComprehensiveGuide #HowNewSpaceTechnologiesareRevolutionizingEarthObservation #HowNewSpaceTechnologiesareRevolutionizingEarthObservationandClimateMonitoring #HowSpaceTechnologyisChangingOurWorld #HowSpaceTechnologyisChangingOurWorld(fortheBetter) #OneInnovationataTime #OverviewofSpaceTechnology #SatelliteTechnology #SatelliteTechnologyRevolutionizingOurWorld #SatelliteTechnologyThePowertoConnectandInnovate #Science #SpaceExplorationFromDreamstoReality #SpaceTechnologiesBenefitingLifeonEarth #SpaceTechnology #SpaceTechnologyAGlimpseintotheFutureofEarthlyInnovation #SpaceTechnologyDrivingInnovationonEarthandBeyond #SpaceTechnologyHereisWhatYouCanAccomplishWithThem #SpaceTechnologyRevolutionizingEarthwithAdvancementsinSpaceExploration #SpaceTechnologyTheEarthlyBenefitsofSpaceExplorationandSatelliteTechnology #SpaceTechnologyTheFutureofEarthisintheStars #SpaceTechnologyTheNextFrontierofEarthlyInnovation #SpaceTechnologysImpactonOurPlanetALookattheFuture #TheAdvancementofSpaceTechnology
How Space Technology is Changing Our World (for the Better)
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