Exploration, our desire to reach the furthest limits of space, has been a key activity since nearly the beginning of the Space Age–even though we did not reach the final planet in our solar system until July 14, 2014. Well, that is how Pluto was classified at the time, when the New Horizons probe was launched. Close to 57 years had passed since the USSR put Sputnik 1 into orbit.
In this facet of the space industry, income stems from the construction of a variety of probes, launches and the monitoring of missions from Earth. Similar to research, space exploration has always depended on government funding. National governments, through their corresponding space agencies, have financed every mission, and there are no signs of change in the near future.
73 billion euros are invested on annual basis. This figure is expected to grow to 160 billion by 2040. However, research programs with closer ties to Earth as well as Earth observation satellites also receive this money.
Current investment in space exploration is worth €73 billion.
Growth estimates point to €160 billion by 2040.
The potential of space exploration is unlimited
Interview to Charles Bolden, Former NASA Administrator, President of The Bolden Consulting Group LLC and Trustee of Bankinter Innovation Foundation, at the XXXI Future Trends Forum about the Commercialization of Space.
For Charles, both the industry and the space market have a great potential, although we need companies to invest in operations there.
Otras aplicaciones de la Industria Espacial
Space Industry Applications
Manufacture products in orbit.
Carry out scientific and technical research in space.
Observe the behaviour of the Earth
Facilitate the communication on Earth.
Defend the Earth´s safety from space.
Extract new materials in space.
Create new drugs in space.
Create space tourism activities.
Create new ways of reaching space.