Trillion-Dollar Space Economy by 2040?

Today, we're discussing an exciting update on the booming global commercial satellite industry. According to the Satellite Industry Association’s 27th annual space economy snapshot, the industry saw a remarkable 2% revenue increase in 2023, reaching a staggering $285 billion. Let’s break down what this means and why it's such a big deal.
First, let's talk about the key drivers of this growth. Despite a decline in satellite services due to the shrinking satellite TV market, the overall industry growth was powered by significant advances in spacecraft manufacturing, launch services, and ground equipment sectors. If we exclude video services, the industry revenue actually soared by 5%! Now, that's impressive.

[@Boris_Chang]

2% increase in revenues is staggering?

[@CrossCountryBR]

Thumbs down due to misleading thumbnail!