Rédaction Africa Links 24 with Tim Cohen
Published on 2024-04-08 20:35:35
The term “rapid unscheduled disassembly” may sound like an exaggerated euphemism for when a rocket explodes, but according to a new report by the World Economic Forum (WEF), the space industry is poised for a rapid, scheduled assembly. The industry is currently valued at $630 billion and is projected to grow to $1.8 trillion by 2035, catering to a more connected and mobile world.
In recent years, there has been a significant increase in the number of rocket launches worldwide, attributed to the decreasing cost of space travel and the expanding expertise in the field. The number of successful launches has risen from three in 2014 to 211 last year, with a record likely to be broken this year with 65 launches already completed. The pace of rocket launches is accelerating, with companies like SpaceX leading the charge.
While SpaceX is a prominent player in the industry, other countries like China, Russia, Japan, India, and Iran are also making their mark. Success breeds success in this rapidly evolving industry, with newcomers like Japan and India proving to be ones to watch.
Several factors are driving the increase in space activities, such as the decrease in launch costs, commercial innovation in satellite technology, and the rise of private sector investment. The most significant applications of these advancements are seen in communication, space tourism, and space-based Earth observation.
The excitement surrounding space exploration has also fueled the industry, with a renewed interest in returning humans to the Moon and establishing a permanent Moon base. Countries like Thailand are investing in satellite design and development, showcasing the growing interest in space technology on a global scale.
Competition is also a significant driver of innovation in the space industry, with Amazon’s Project Kuiper poised to enter the market and potentially challenge SpaceX’s dominance. The potential for satellite technology to revolutionize communication and internet access is vast, with projects like SpaceX’s Starlink aiming to provide internet access to remote areas.
As satellite technology continues to evolve, the possibilities for space-based applications are endless. From Earth observation to communication, the space industry is on the brink of a new era of innovation. With the potential for satellite technology to revolutionize communication and internet access, the future of space exploration looks promising.
In conclusion, the space industry is on the cusp of a new era of growth and innovation, driven by advancing technology, increasing investment, and expanding applications. The potential for space-based applications to transform various industries is immense, paving the way for a future where space truly becomes the final frontier.
Read the original article on Daily Maverick
