.
| • | Sizing up cosmic opportunities. Space ventures mean a lot more than stargazing for industries, individuals, and governments. Since satellites play a crucial role in everything from forecasting the weather to monitoring power grids, access to space is likely to become ever-more essential for countries and companies. And geopolitical conflicts on Earth may shift to the skies as countries depend on satellite data for their tactical decisions. [Axios] | | | | • | A deluge of debris. There’s plenty of junk in space: as much as 9,000 metric tons of it. Approximately 70% of that detritus—from satellite collisions, expended rocket stages, and other defunct endeavors—clutters low-Earth orbit (LEO). While the issue may seem miles away, the risk of celestial satellite crashes hits close to home. According to one space-mapping start-up, the probability that satellites will crash into “mission-terminating debris” has likely doubled. [FT] | | | | • | Taking R&D into space. From telecom services to tourism, the space economy is booming. Over the past five years, commercial R&D spending within the space sector increased by 22% annually. In pharmaceuticals, beauty and personal care, food and nutrients, and semiconductors, expanding businesses into space could generate millions—or even billions—of dollars in revenue, McKinsey analysis suggests. R&D in microgravity, for example, could help manufacturers of skin-care products develop active ingredients, since microgravity makes it easier to combine substances. | | | | • | Investment shifts. Over the past decade, more space investment has flowed to satellite-related and other ventures in LEO, such as space stations and space travel. LEO ventures still lead in funding, but the space industry is on the cusp of another shift, McKinsey research suggests. Investment is accelerating in “lunar and beyond” initiatives, including in mining and robotics. The latest Quarterly Five Fifty shows more ways that myriad industries can boost their businesses into space. | | | | — Edited by Sarah Thuerk | | 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 the On Point newsletter. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
No comments:
Post a Comment