Gazing into the future of space

To infinity and beyond ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   CURATED READS FOR GEN Z—AND THEIR Z-CURIOUS COLLEAGUES Subscribe Click to get this newsletter weekly May the 4th be with you tomorrow for #StarWarsDay! This week, we're looking to the (real) future of the space industry. Sadly, wookies are not on the agenda.    first up Put away your telescope: the future of space isn't far, far away. Who's in for a Mars happy hour in a few decades? While the US remains the epicenter of space activity, about 70 countries have established space agencies, and private-company spending reached an all-time high of $10 billion in 2021.  (Want to see the space-funding data for yourself? Explore our interactive map.) So where is all that money going? Here are just a few places:   Space tourism. The first rocket thrill seekers went up years ago, reportedly for $20 million a pop. While the price tag has come down to six figures, the current experience is "like a very expensive roller coaster," one expert said—there's not really that much to do. Expect to see that event schedule expand in future years. Are 'made in orbit' product labels coming? A Lockheed Martin exec said that we're moving into "space for space" ventures that create and exchange value off-planet, rather than only benefiting Earth activities. That includes producing goods in space using materials from space (which 3-D printing will be a big part of).  Above-and-beyond reach. Right now, 60 to 70 percent of space company funding goes to low-Earth-orbit ventures, including tourism, space stations, and the satellites that enable quick communications. But "lunar and beyond" missions are getting more of the pie—read the article to find out where the rest of the funding goes. The view from above. While space contains vast opportunities, it can also improve life on Earth. Satellites can tell farmers how to improve their crop yields, and we're looking toward a future with global satellite-enabled internet. And if you've ever swapped your shoes because of a rainy forecast, you may already be benefiting from satellites that accurately track weather.  More chores. Space is infinite, but our orbit isn't, and new launches only add to the 27,000 pieces of space junk (and counting) hurtling around up there. Collisions can be catastrophic. Time to finally take out the celestial trash?  New neighbors? A satellite data company exec said he thinks we might identify other life in the solar system by 2030. That might mean just the potential for a place to support organic matter, but hey, I'll take it.  visualize it Private companies have become more involved in the future of space, including the space tourism push.  Lift off Wait, don't scroll  Meet in the middle? Employers are looking to get workers back in the office, but their employees aren't exactly thrilled. Hybrid work is a major opportunity to advance diversity, equity, and inclusion aims—but it's a delicate balancing act that's still in development.   Green machine.  More than $2 billion has been invested in sustainability-themed start-ups since 2018, and Asia alone could see a tenfold increase in start-up activity in the next three to four years. (That's a lot of potential to be the next big thing.) Tech talent tectonics. Tech skills are in hot demand, and in Germany 780,000 additional tech specialists will be needed by 2026. But 87 percent of senior execs think their companies aren't ready to address the skills gap. Are you part of the solution? Not us; still great  Office? No thanks. A survey found that 71 percent of 18-to-24-year-olds said that they'd look for another job if their employer insisted on them returning to offices full time. [Business Insider] On the ups. Class of 2022 graduates are set to earn more in their first job than any of the last three graduating classes, and companies are snapping up more new degree holders this year than they hired from the class of 2021. [Fortune] WANT TO JOIN US?  Interested in aerospace? Check out related job openings  On our Careers Blog, Alexandra, a senior analyst in Dubai, celebrates her move from a "techie" at a software company to working at the edge of tech at McKinsey Sign up for our free Careers Blog newsletter or 40+ other free alerts and newsletters  DO OR DO NOT OUR CROSSWORD—THERE IS NO TRY Your latest McKinsey Crossword: 'World Laughter Day' 69-Across: Sounds heard on World Laughter Day (celebrated in 2022 on May 1) Play now   — Edited by Sarah Skinner, Gen Z curation editor, New York Subscribe Click to get this newsletter weekly BACKTALK Have feedback or other ideas? We'd love to hear from you.  Tell us what you think Follow our thinking McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to our Advanced Industries alert list. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007