Emerging space markets: engines of growth for future space activities

Abstract

After a period of downturn, the space industry seems to be poised for another wave of growth in the near future. One of the drivers of this growth will be emerging space markets (markets that are not significant sources of economic activity at present, but those with a big potential for growth). Four such markets are analyzed in this paper: space tourism, on-orbit satellite servicing, microsatellites and global navigation satellite systems. Each of these markets has a unique combination of technologies, potential applications, and sources of demand. The likely evolution of technologies and applications in each market is discussed and a comparative analysis is presented.