Thematic Strategy 3Q24: The Next Frontier
Space economy reaches for the stars with robust growth trajectory backed by innovation and competition
Chief Investment Office27 Jun 2024
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In the past 40 years, the cost of launching spaceships fell around 98%. The space economy, in tandem, has grown explosively, and is expected to reach USD772bn by 2027. We examine this theme and explain why it goes beyond space tourism to harken the future of investing – and humanity itself.

  • US maintains pole position in global space exploration; new private sector entrants include SpaceX, Blue Origin and Virgin Galactic
  • Pivotal innovations such as reusable rockets and smaller satellites have made space exploration more economically viable
  • Pillars anchoring space exploration development include launch services, space-related manufacturing, Position Navigation and Timing (PNT), Earth observation, and space tourism
  • Significant growth forecasted in space tourism; increased affordability signals potential for transformation into a mainstream industry
  • Gain exposure to Space with the DBS “Space Thematic Basket”’; robust growth trajectory demonstrated by outperformance of 51% against global equities

Figure 1: Launch attempts by country and category in 2023


Source: Bloomberg, DBS


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