Tech
Rocket companies raise billions of dollars in new space race
A host of rocket companies such as Blue Origin, Rocket lab,Relativity Space, Slingshot Aeropsace, Space X andVirgin Orbit have raised billions of dollars to create new vehicles to launch payloads into space.
The move comes as the private space industry develops in the U.S. and investors are beginning to back enabling technologies boost the next wave of innovation.
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Whether it’s satellite manufacturers, new propulsion systems for satellites, antennae for data transmission or actually building out the networks themselves, the new space race will be building the next generation of services that the increasing access to space provides.
Last year, investors put at least $2.3 billion unto companies angling for their own corner of outer space.
By 2040, Morgan Stanley estimates that the space economy to be worth more than $1 trillion in 2040 — as well as for Space X to double, or even quintuple, its valuation — “are significantly tied to the developments related to satellite broadband.”
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