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#SpaceWatchGL Opinion: What is the real annual generated revenue of the space industry? PART 1

Being part of a growing economy is where you want to be these days. And Space promises to be among one of the fastest growing sectors, with huge spillover potential into other industries. Currently, the space economy has been estimated to be at around 386 billion USD in revenue, and expectations predict it to be at 1 trillion USD by 2040. The outlook is attractive and moving within the space sector one could have the impression of booming space businesses. But are those numbers legitimate?

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Celestia UK wins navigation contract from ESA

Hi-tech startup Celestia UK, has won a €800,000 ESA NAVSIP (Navigation, Innovation and Support Programme) contract to develop LEO-SYN+, an innovative PNT (Positioning, Navigation and Timing) solution based on low Earth orbit (LEO) satellite constellations for 5G networks and applications, the company said. The project’s aim is to boost the reliability and performance of GNSS (Global Navigation Satellite System).

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Government and SmartSat CRC invest in Queensland Earth Observation Hub

The Queensland Government and SmartSat Cooperative Research Centre (CRC) have launched the Queensland Earth Observation (EO) Hub, a partnership for two new Earth observation research projects. The Government and SmartSat CRC are both investing about US $1 million in the project.

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Lunar Logistics Services and Astrobotic selected to fly ESA payload to the Moon

The European Space Agency (ESA) selected Moon company Astrobotic, and NewSpace start-up Lunar Logistics Services (LLS), to fly the LandCam-X innovative landing sensor camera to the Moon in 2024 on Astrobotic’s Griffin Mission One (GM1). The contract will be the first ever commercial delivery to the Moon procured by ESA.

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ESA partners with SES to boost European Secure Connectivity with quantum encryption

The European Space Agency (ESA) and satellite operator SES, signed a contract with support from the European Commission for the development of Eagle-1, Europe’s first space-based quantum key distribution satellite system, the companies announced at a press conference at the International Astronautical Congress 2022 in Paris last week. 

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Reflex Aerospace and HPS partner for sustainable use of space

Satellite manufacturer Reflex Aerospace, and space-tech company HPS (High Performance Space Structure Systems), signed a letter of intent to prevent space debris, the companies announced. According to the agreement, Reflex will remove all its satellites from orbit at the end of their operational life.

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