Space: The $1.8 Trillion Opportunity for Global Economic Growth
Space technologies can tackle many of the world’s most pressing business and societal challenges. This report by the World Economic Forum and McKinsey & Company shows that lower costs and improved access to space-enabled technologies such as communications; positioning, navigation and timing; and Earth observation services could take the global space economy to $1.8 trillion by 2035, up from $630 billion in 2023.
Space technologies can tackle many of the world’s most pressing business and societal challenges. This report by the World Economic Forum and McKinsey & Company shows that lower costs and improved access to space-enabled technologies such as communications; positioning, navigation and timing; and Earth observation services could take the global space economy to $1.8 trillion by 2035, up from $630 billion in 2023.
This growth, faster than the growth of global GDP, will be driven by sectors including supply chain and transportation; food and beverage; defence; retail, consumer goods and lifestyle; and digital communications.