Wednesday, July 24, 2024

Aerospace, a sector in full expansion worth $424 billion


The space economic sector is an important part of the Italian economy, and from tomorrow it will be at the heart of the third edition of the International Forum dedicated to the new space economy. The event will be held digitally through Friday and will feature companies, startups, foundations, research bodies and universities.

Organized by the Amaldi Foundation and Fiera Roma and sponsored by ASI (Italian Space Agency), the Forum will also take place this year at a distance due to the pandemic (only the first edition in 2019 was present). The NSE 2021 program has been prepared by the International Scientific Committee and coordinated by Professor Roberto Battiston, Member of the Scientific Committee of the Amaldi Foundation.

The opening session is devoted to Europe and its space strategy. Speakers are (among others) Massimiliano Salini MEP, who will assess space activities in the European Union, and former astronaut Maurizio Shelly, who founded technology startups and is a member of the ASI Board of Directors.

The scientific and technological activities of the space sector are closely related to innovation and affect the most diverse disciplines and areas of interest. Since 2016, the world’s space economy has seen investments quadruple. In addition to the major players in the new commercial era of space, Space X, Virgin Galactic, and Blue Origin, several other private companies are now participating in the new space race: the top 10 companies generate business expected to be worth up to $550 billion.

These are important numbers that make the space sector a candidate to become a reference for the economy of the future. From 2010 to 2019, revenue grew 70 percent, today to $424 billion. Big investment banks forecast a decade of faster growth.

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The economy related to the space sector today includes many activities: from the development of launch pads to the development of new materials, from services provided by Earth observation satellites to scientific and cosmic exploration missions. Remote sensing satellite services, in particular, provide support services for agriculture, to assess the environmental conditions of the seas and oceans, to study climate change, to monitor the infrastructures of energy operators, and much more.

The multiple opportunities offered by the new space economy create space for the rapid growth of promising start-ups. In the past decade, more than ten startups have made a leap in quality by becoming a player on the international scene.

On the phone with La Stampa, Massimiliano Salini, MEP, explained that in the European Union budget from 2021 to 2027, which he negotiated with colleagues in Brussels and Strasbourg, “the space sector was among those that received significant funding, 15 billion euros » In light of a development that will be measured in hundreds of billions. Salini also notes that “Italy is a leading player in Europe in this sector, along with France, and Turin is the main pole of Italy and the first in Europe.” Among the space activities in which the European Union participates, Salini cites the program Galileo GPS (European equivalent of the American GPS network), which has just been enriched with two satellites bringing the total to 28, and the Copernicus Geolocation Program – Monitoring, which covers everything from earthquakes to meteorology and has become essential to economic activities such as agriculture. However, space exploration and astronautics are not included in this chapter: “This sector is the responsibility of the European Space Agency, the European Space Agency,” says Salini, “which, however, is not a subsidiary body For the European Union, it is an intergovernmental entity.”

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NSE ExpoForum 2021 is divided into five thematic areas: Space – an accelerator for social needs, on how and to what extent space activities can contribute to meeting the social needs of everyday terrestrial life; Flexibility, on how space can solve the planet’s major problems, including those of the environment, climate, and terrestrial ecosystem, which were addressed in the climate session. Moreover, asset protection, from space and through new technologies, it is possible to make the large amount of data and information we live every day more secure and controlled. Finally financing, on the new business opportunities that this sector offers. Roberto Battiston: “The NSE 2021 edition addresses the issues identified as most pressing to society, climate, resilience, protecting value, and the contexts in which space can make a difference by accelerating, enhancing, and improving responses to the challenges we are called upon. The participation of international speakers is this The year is of particular interest, a testament to the growing interest this forum gathers in both the space and non-space sectors, the sector in which the value of the new space economy is being created.”

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