Seraphim Space, the world leader in SpaceTech investments and specialized observer of the sector, outlines a horizon for the future of the space sector. In 2024, the rapidly evolving geopolitical landscape will spur global governments to enhance their independent space capabilities, Seraphim Space estimates. Increasing space sovereignty, ranging from sending astronauts into space to creating dedicated satellite constellations, is emerging as one of the key trends of the year, with rivalries between nations extending into space as well.
In parallel, the US Department of Defense's (DoD) commitment to the private sector is elevating the 'NewSpace' market to new heights. Increased investment and recognition from a key government player are attracting additional private and institutional investors, fostering an environment of sustained growth and innovation in the sector.
The market dynamic is also reflected in mergers and acquisitions (M&A) activity, where robust activity is expected in 2024. The satellite communications sector, in particular, is preparing for further consolidation to defend against the threats of 'megaconstellations' of Starlink, OneWeb and Amazon Kuiper. The Earth observation market is also subject to consolidation, driven by growing government interest in multimodal imaging and data fusion.
Meanwhile, SpaceX is emerging as a barometer for the entire space investment landscape. The launch of Starship and the potential IPO of Starlink could be significant catalysts, shaping the trajectory of investor enthusiasm or caution in the rapidly evolving space sector.
THE BATTLE FOR THE MOON
2024 will also witness an increased focus on the Moon as a starting point for gaining insights into and access to our solar system. The Artemis program, a government-funded but commercially driven mission, will see the collaboration of established industrial players and 'New Space' giants such as SpaceX, Blue Origin and Firefly. But the actors that will take turns on the surface of our satellite are increasingly numerous, just remember India, China and Russia. China has made significant progress in its lunar missions with the Chang'e program. Recently, it has carried out landing and exploration missions on the lunar surface, including collecting samples of lunar soil and rock to bring back to Earth. The Indian Space Research Organization (ISRO) launched Chandrayaan-2, an unequipped mission that included an orbiter, lander and rover to study the lunar surface, although the lander suffered a malfunction during the landing phase. We're just getting started.
Another key trend is the regulatory push towards greater disclosure of climate data through Earth observation. This is expected to trigger unprecedented growth in the market, promoting the development and implementation of advanced technologies. Finally, 2024 is expected to mark the beginning of a new phase of growth in the space sector, with the development of low-cost capabilities for frequent return to Earth. This will unlock the enormous potential of point-to-point delivery and space-based manufacturing.
Likewise, the microgravity sector will no longer represent just a scientific curiosity, but a potential avenue for revolutionary advances in life and materials sciences. 2024 is predicted to be the year that microgravity R&D moves out of the lab, with several companies advancing towards small-scale production of materials formulated in space.
#Space #Trends #Seraphim #Space #Analysis
