Morgan Stanley projects the space economy will hit $1.8 trillion by 2035. Yet most companies still don’t have a strategy for it. Last quarter alone, multiple space startups secured seven-figure funding rounds. NASA’s Artemis program also hit a major milestone. This is a very real, trillion-dollar economy forming in real time, and the window to get in early is closing fast.
Critically, space is the first truly infinite domain of commerce. Unlike Earth-based markets, it offers endless potential for new infrastructure, new services, and new economies to emerge. And while many are distracted by AI or supply chain chaos, the next massive growth platform is quietly taking shape above our heads.
It’s not just rockets and rich guys. It’s agriculture, R&D, and your next competitor
When most people think of space, they picture billionaires in zero gravity or cinematic sci-fi. But the reality is that it’s becoming a critical infrastructure layer for future business, just as the internet did 30 years ago. The parallels are striking. In the early 1990s, many leaders saw the internet as a novelty. Today, it’s the backbone of the global economy. Space is on the same path, but with even broader implications.
From biotech to agriculture to cybersecurity, space is already critically transforming industries. Biotech companies like Redwire and Varda Space Industries are leveraging microgravity for drug development and bioprinting, enabling breakthroughs not possible in Earth-bound labs.
Agriculture firms are using real-time satellite imagery to optimize water use, detect crop stress, and improve yield forecasting. Platforms like Planet Labs and Descartes Labs are making precision agriculture scalable and climate-resilient.
Cybersecurity providers have also been looking beyond Earth for years, as satellite networks become part of critical infrastructure. Companies like SpiderOak are pioneering zero-trust security models for space assets.
The market is heating up and capital is flowing in
In 2023 investors poured $12.5 billion into space startups globally, despite broader tech market pullbacks. Startups focused on in-space manufacturing, small satellite constellations, and launch technologies are leading the charge. The Artemis program is unlocking new lunar and deep space opportunities, while commercial players like SpaceX and Rocket Lab are slashing launch costs.
Public-private partnerships are expanding rapidly. The Department of Defense is investing in space-based logistics and mobility. NASA is funding space-based solar power and commercial space stations. Private equity firms are acquiring ground infrastructure and launch supply chains. The smart money is building and pivoting, quickly.
Four ways to make space part of your growth strategy
Meanwhile, too many companies and policymakers remain tethered to earthbound thinking. The point of tapping into this market isn’t to become a “space company.” Most companies won’t build satellites or spacecraft. Instead, they’ll find new ways to leverage the unique conditions and infrastructure of space to improve their products, services, and operations on Earth. Or they’ll take existing products and services and find ways to adapt them for space.
Here’s how to ensure you’re positioned to lead in this rapidly expanding trillion-dollar market:
Start thinking like a space vertical. You don’t have to build rockets to benefit from space, but you do need to understand how the industry works. Study space value chains and learn where your products, services, or capabilities might fit in. Even surprising players can break into the market. For example, a small watchmaker in Albuquerque was tapped to build components for space-bound hardware. This wasn’t because they were in aerospace, but because they solved a unique precision problem.
Tap into satellite-enabled insights to optimize operations. If you’re not already, look into ways your business can uniquely leverage satellite data for actionable insights, whether it’s tracking supply chain bottlenecks, improving precision in agriculture, or identifying untapped markets with geospatial analysis.
Codevelop with space startups tackling niche challenges. Consider partnering with startups innovating in microgravity manufacturing, on-orbit servicing, or space-based energy solutions. Explore shared R&D that aligns with your industry’s specific needs, like 3D-printed components or novel materials.
Train your teams on space-driven opportunities. Upskill your workforce by collaborating with universities or space-focused research institutions. Equip your employees to identify how advancements like quantum communications or hypersonic transport could create revenue streams in your sector.
The cost of waiting? Irrelevance.
It’s time to adapt, innovate, and lead. The companies that embrace space as a critical business opportunity will not only future-proof themselves but also define the next chapter of economic history. Every major technological revolution has created winners and losers. Space will be no different.
