Given the speed with which technologies on all fronts now advance, it can be difficult to distinguish interesting evolutions from transformative leaps forward. But for organisations in both public and private sectors, space-enabled technologies is unarguably the latter.
For organisations in both the public and private sectors, business transformation based on space-enabled technologies offers unparalleled potential and opportunity.
The term ‘space-enabled technologies’ describes all resources which are space-based, space-dependent or space-focused, and so have the potential to provide a foundation for ‘space-enabled technology’ solutions.
In practice, this means the use of data received from space, or use of the physical environment of space or assets placed into that environment, to provide solutions that can enhance existing industries, create new markets, or contribute to the safety and resilience of infrastructures (either civilian or military) – and in so doing produce transformational change.
The space-enabled technology ecosystem, and how it can inspire and power business transformation.
1. MANUFACTURING
Space ‘factories’ offer the possibilities of zero-gravity manufacturing and scientific experimentation for R&D and for participation within a circular, in-space economy.
2. SPACE-BASED OBSERVATIONS
Satellites offer valuable access to both in-space and Earth-observation data dealing with areas such as environmental conditions, weather forecasting, mineral location and population activity.
3. SATELLITE AND PAYLOAD SERVICES
Satellites and other spacecraft provide the availability of payload services for enterprise requiring space conditions or characteristics.
4. COMMUNICATIONS AND NETWORKING
Communications and network satellites enable robust telecommunications and internet connectivity, especially valuable for Internet of Things (IoT).
5. LAUNCH AND TRANSPORTATION
Sub-Orbital and Low-Earth Orbit logistics and travel offer the prospect of reduced journey times, lower costs and reduced environmental footprint.
6. NAVIGATION
Satellite constellations enable accurate and cost effective positioning, navigation and ubiquitous timing reference for everyday commercial, as well as mission critical applications.
7. EARTH-BASED OBSERVATIONS
Earth-based observations of activity in space inform decision taking in sectors such as military, environmental research, weather and public health.
8. DATA ANALYTICS
Earth-based data analytics enable data transmitted from space to be mined in real time for trends and insights.
Space, and the data and services it provides, offer Governments, public and private sector organisations new and unparalleled opportunities.
Space-enabled solutions can enhance existing industries, create new markets and ensure the independence and resilience of both infrastructures and societies. The data, services and facilities offered by space can fuel increased competitiveness and innovation, as well as providing inspiration for entirely new, and sometimes otherwise inconceivable, initiatives.
According to a 2024 report by the World Economic Forum in conjunction with McKinsey, lower costs and improved access to space-enabled technologies such as communications; positioning, navigation and timing; and Earth-observation services, could take the global space economy to a value of $1.8 trillion by 2035, an increase of almost 3x on its 2023 value of $630 billion.
Whether you are involved in the strategising and management of public services, or in running an organisation in the private sector, the space technology ecosystem and the transformations it makes possible are racing towards you. Now is the time to embrace them.
Successive Governments have demonstrated their commitment to developing the UK as a space ‘superpower’, in terms of the utilisation and exploitation of space-enabled technologies by both public sector and private enterprise.
As The National Space Strategy in Action (July 2023), explains: “To create one of the most innovative space economies in the world, it is vital that Government backs British business at home and abroad, promotes the UK as an investment hub, and champions trade opportunities globally.”
A 2023 report by know.space for the Department of Science, Innovation & Technology further emphasises the contribution of space technologies to the economy.
“The space industry has a disproportionately important and impactful role in the UK economy. The sector’s influence spreads throughout the economy, with wide-ranging applications across different sectors, providing and enhancing services to citizens, firms and public users.”
This means that, in both the public and private sectors, support can be expected for transformations which embrace the potential of space.
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