The Space Technologies Universe, Investments, and Future Expectations
Space technologies encompass the tools, systems, and technologies developed for the exploration, study, and development-oriented use of outer space. These include satellite systems, rockets and launch systems, space mining, space-based Internet of Things (IoT), defense and security systems, space data and analytics solutions, as well as in-space manufacturing technologies. Beyond scientific research, space technologies have broad applications in communication, navigation, agriculture, environmental monitoring, and military operations.
Space technologies encompass the tools, systems, and technologies developed for the exploration, study, and development-oriented use of outer space. These include satellite systems, rockets and launch systems, space mining, space-based Internet of Things (IoT), defense and security systems, space data and analytics solutions, as well as in-space manufacturing technologies. Beyond scientific research, space technologies have broad applications in communication, navigation, agriculture, environmental monitoring, and military operations.
The space technologies sector is a dynamic market that attracts both large corporations and innovative startups. In 2023, the global space technologies market was valued at USD 443 billion, and it is expected to reach USD 916 billion by 2033, with a CAGR of 7.54% from 2024–2033.
Examples of Space Technology Subcategories
Low-Earth Orbit (LEO) Satellites – Positioned below 2,000 km from Earth’s surface, offering advantages such as high-resolution imaging, fast data transmission, and low latency. For example, SpaceX’s Starlink project uses thousands of LEO satellites to provide broadband internet globally.
AI-Enabled IoT Devices Communicating with Satellites – These devices collect and transmit data worldwide via satellite connectivity, with applications in agriculture, logistics, environmental monitoring, and asset tracking. Swarm Technologies is a notable startup creating a global, low-cost IoT connectivity network through ultra-small satellites.
Satellite Systems – Developed for communication, Earth observation, navigation, and scientific research. Examples include Gama (solar sail deep space exploration), Archangel Lightworks (free-space optical technology), and Infinite Orbits (sustainability-focused satellite services).
Rocket and Launch Systems – Critical for payload delivery, satellite deployment, and human spaceflight. Equatorial Space (Singapore) has developed a commercial rocket to carry small payloads beyond the Kármán line.
Space Mining – Targets extracting valuable minerals from the Moon and asteroids. HEO Robotics provides satellite-based imaging to identify resources and predict risks. Moon Express develops low-cost robotic spacecraft for missions to the Moon, asteroids, and Mars.
Space IoT – Uses satellite networks to provide connectivity for IoT devices globally. OQ Technology is pioneering machine-to-machine IoT communication, with applications in oil and gas, maritime, Industry 4.0, and asset tracking.
Defense and Security – Includes satellite-based reconnaissance, communication, missile defense, space situational awareness, and electronic warfare. These technologies are critical for national security and military operations.
Space Data and Analytics – Involves collecting, analyzing, and transmitting data such as geospatial intelligence, space weather monitoring, and Earth observation. Descartes Labs provides scalable geospatial analytics, while TileBox develops cloud platforms for managing space data.
In-Space Manufacturing – Producing useful goods, components, or structures using raw or recycled materials. Interstellar Lab develops bio-farming platforms to leverage plant-based power for in-space agriculture and production.
Examples of Publicly Listed Space Technology Companies
Lockheed Martin Corp – USD 111B
US-based aerospace, defense, security, and advanced technology company. One of the world’s largest defense contractors, with major operations in satellites, space probes, and advanced space systems.Boeing Company – USD 112B
Multinational American aerospace company designing and producing aircraft, rockets, satellites, and missiles. A global leader in aviation manufacturing and defense.Airbus SE – EUR 136B
European multinational corporation producing commercial and military aircraft, space systems, and defense solutions. Known as the world’s largest aircraft manufacturer.Honeywell International Inc – USD 134B
US multinational serving aerospace, engineering, advanced materials, and safety systems. Honeywell Aerospaceproduces engines and aviation products for commercial and defense sectors.Northrop Grumman Corporation – USD 70B
US-based aerospace and defense technology company, delivering autonomous systems, cyber, space, and defense solutions. Recognized as one of the world’s largest military technology providers.
Active Investors
Active investors in space technologies include both large investment firms and venture capital companies. In 2023, global investments in the space economy totaled USD 17.9 billion, indicating strong ongoing interest and funding in the sector. The peak was in 2021, with USD 47 billion invested.
Market Size and Future Outlook
The space technologies market stood at USD 443 billion in 2023, expected to nearly double to USD 916 billion by 2033.
According to Morgan Stanley’s 2020 report, the global space industry could generate over USD 1 trillion in revenues by 2040.
Experts believe technological advancements and government incentives will accelerate long-term investments in the sector.
In summary, space technologies are a fast-growing industry with broad opportunities. Both large corporations and startups have made significant progress in recent years. Given the market’s size and investment outlook, the importance of space technologies will continue to grow. Interest from both investors and governments will be key drivers of future growth.
In 2023, the market reached USD 443 billion, and it is expected to more than double within the next decade. Morgan Stanley’s report further projects that by 2024, the global space technologies market will surpass USD 1 trillion.
BV Portföy’s Strategy
As Boğaziçi Ventures, we believe that space technologies, in parallel with advancements in artificial intelligence, will expand as projected. Therefore, we have included Robotics and Space Technologies in our investment strategy.
Accordingly, we are preparing to launch the BV Portföy Robotics and Space Technologies Variable Fund (RUT) very soon, giving investors access to global publicly listed companies in this domain.
Investors can purchase the fund via TEFAS (code RUT) through all brokerage houses and banks’ online platforms, or by opening an account directly with BV Portföy.
