Mining plays a vital role in the economic development of many countries. The emerging economies are now major players in the production and availability of key commodities such as copper (70%), bauxite (40%), iron ore and precious metals. The mining industry is undergoing transformational changes. Satellite technology can help extractive industries to move towards more intelligent mines, improve safety and security across the mining supply chain, and monitor environmental impacts.
Applications
It is demand from the traditional and emerging industries on Earth that drives the accelerated commercial development of space-enabled products and services. As the backbone of further digital transformation, the space industry is critical to the future growth of the global economy, from mining and energy, to agriculture and transportation.
MARKET SIZE: €500+ BILLION
Mining
MARKET SIZE: €7,000+ BILLION
Energy & Utilities
Space services provide applications in renewable energy sources as well as in traditional oil-carbon and nuclear sectors. Such services can deliver benefits throughout all the phases of energy production and supply, ranging from identifying reservoirs and sites, to controlling and monitoring of the distribution networks. They also provide support to policy formulation and enforcement.
MARKET SIZE: €500+ BILLION
Fishery & Agri/Aquaculture
Food production and agriculture continues to be a key sector worldwide. The combination and integration of space-based systems and terrestrial resources provides an increasing potential for customised solutions and innovative service. Areas of interest include yield optimisation while minimising the impact on the environment based on precision farming and enhanced irrigation management. Services may also include crop monitoring and evaluation for agricultural statistics and regulatory aspects.
MARKET SIZE: €5,000+ BILLION
Transport & Logistics
Transport infrastructure is founded upon the communication of data. With the addition of satellite technology, this can become far more reliable and allow for increased innovation opportunities. Both infrastructure and vehicles alike will exchange large amounts of data allowing them to respond to changes instantaneously, considering for example traffic or weather conditions. This can either be autonomously or from a remote location, such as transport hubs.
MARKET SIZE: €650+ BILLION
Manufacturing
Industry 4.0 is driven by technological developments to create a digital manufacturing enterprise that is not only interconnected, but communicates, analyzes, and uses information to drive further intelligent action back in the physical world. Space is stepping up to the connectivity challenge posed by the fourth industrial revolution.
MARKET SIZE: €60+ BILLION
Education
The deployment of satellite constellations could bring Web access to three billion more people who live in regions where rolling out traditional internet access infrastructure is uneconomical or unfeasible. This will not only create access to new economic opportunities, but also to education and human capital development.
MARKET SIZE: €3,000+ BILLION
Healthcare
Companies developing AI diagnostics and wearable medical devices, robotic and telerobotic surgeries, and preventive medicine for deep-space missions are paving the way to equal healthcare access in the remote and poor regions of our planet. At the same time scientist working on next generation antibiotics, pure enzymes and a cure for Alzheimer’s disease are increasingly relying on micro-gravity research and potential production on board of ISS, and in the future – private orbital stations.
MARKET SIZE: €18,000+ BILLION
Finance
More and better information is needed for financial markets, institutions, and players to efficiently allocate capital to sustainable investment alternatives. Geospatial data, including Earth Observation and climate data can provide key elements of the information that is needed to evaluate risks, opportunities, and impacts of sustainable investment opportunities to deploy sustainable finance effectively. Space also provides critical services for areas of finance that constantly grow in importance, such as cybersecurity and micropayments.
MARKET SIZE: €75+ BILLION
Safety & Security
The power grid, the transport network and information and communication systems are “critical infrastructures”, which are essential to maintain vital societal functions. These systems are considered so vital that their incapacity would have a debilitating impact on security, the economy, public health or safety. Space data can help enable the maintenance and protection of these systems by continuous and persistent monitoring – globally, day and night.
MARKET SIZE: INVALUABLE
Environment
Satellite technology and remote sensing could introduce real-time, high-frequency tracking of relevant environmental data. Customized solutions utilizing space-based systems are able to provide end-to-end services for optimal water resources management through dispatchable control and monitoring irrigation systems.
The 60-year-old space industry has been transformed in the last decade by improved access to space, emergence of satellite platforms for Lower Earth Orbit, miniaturization of electronics, changing regulatory environment and growing demand for commercial and consumer applications. The global space industry now spans across multiple markets on Earth and beyond, becoming a key positive element in the technological and economic transformation of our society.