The Race To Invest In The Space Economy

Humans have long viewed outer space as the final frontier.

Our thirst for exploration has brought whole nations together to create more advanced technologies─all in the pursuit of discovering the outer reaches of the universe.

Today’s infographic from ProcureAM highlights the exciting journey humans have taken into outer space, and the economic boom across industries as a result of this quest for discovery.

With an ever-expanding universe, how far have we gone?

Our Connection with Outer Space

Humans have been fascinated with space for millennia, using the planets and stars to navigate, keep time, and discover scientific facts about the universe.

Since the 1960s, humans have also been traveling into space and pushing the limits of our technological and physical boundaries with each excursion.

A Brief History: Humans in Space

  • 1957 ─ First satellite launched: Sputnik1
  • 1961 ─ First human in space: Yuri Gagarin
  • 1965 ─ First human spacewalk: Aleksei Leonov
  • 1969 ─ First human on the Moon: Neil Armstrong
  • 1984 ─ First untethered spacewalk: Bruce McCandless
  • 1998 ─ First modules launch to begin construction of the International Space Station

Nations around the world have used these trips and technological milestones to drastically improve life.

Reusable rockets and advanced satellite technology enable greater innovation on Earth through higher-quality broadband internet, 5G cellular networks, and the Internet of Things (IoT) connected devices.

The Space Economy is Ready for Lift-off

Three major sectors are dominating the global space economy today:

  • Products and Services
    This sector drives the majority of commercial activity in the space industry. These products and services meet specific needs in telecommunications, location-based services, and monitoring and observation.
  • Infrastructure
    Production of space vehicles such as rockets and rovers, ground and space stations, and receivers such as satellites, receivers, and terminals for internet and TV are also booming. As the global population grows, our need to stay connected to each other evolves.
  • Government
    Most modern government space agencies are actively monitoring and tracking space to offer better resources and services for their citizens, including geopolitical monitoring and missile tracking.
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