The evolution of the telecommunication satellite market
Within the global Satellite Communication market, optical inter-satellite links (OISL) terminals are expected to surpass 70,000 units in orbit by 2031. Current prices of around $ 1M per terminal are expected to decrease to less than $100,000 at the end of the decade. Funds like the Swedish based Rymdkapital (Nordic New Space Capital AB) support emerging new space start-ups in Europe aiming for a global market. Recently, they endorsed Forsway, a start-up enabling satellite broadband connectivity in underserved regions. In the telecommunications sector, a key challenge and a major opportunity for companies is cybersecurity. Next generation networks will have to rely on quantum keys distributed by satellites around the globe to assure a secure market.
Canada and Italy invest in earth observation
The Canadian government has budgeted $ 7.27M to the Canadian Space Agency (CSA) to help plan for the next generation of Earth Observation satellites. To advance these key technologies, 10 contracts were awarded to Canadian companies, for a total of approximately $ 6.8M. In Europe, the Italian Ministry of Culture – MiC – and the Italian Space Agency – ASI- have signed an agreement for a satellite monitoring plan to collect and share data on Italy’s cultural heritage.
Space exploration and space rovers rise
The global space rovers market was valued at $ 431.3M in 2019, and is projected to reach $ 998.3M by 2030 registering a CAGR of 9.2%. Rise in investments for space explorations and space mining are expected to drive growth, together with supportive government regulations. Consequently, the UK Space Agency (UKSA) has announced £ 1.6M in funding for eight projects through its Enabling Space Exploration fund on Mars Day. The Government also pledged £ 1.84Bn for important space programmes, which includes a commitment to the UK-built Rosalind Franklin Mars Rover, set to launch to Mars in 2028.