NewsEconomicsSpace Economy, global turnover doubles to $ 447 billion

Space Economy, global turnover doubles to $ 447 billion

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The global turnover of the Space Economy has more than doubled in the last 15 years, going from 176 billion dollars in 2005 to 447 billion in 2020. These are the first data collected by the See Lab, SDA Bocconi’s Space Economy Evolution Laboratory, and that the Adnkronos was able to view in view of the Fourth annual See Lab conference to be held next Monday. On 27 June, the first research laboratory on the Space Economy calls together institutions, academics and companies in the space world to discuss “the value of an integrated approach to research in supporting both the space and non-space sectors”. “To say that the space economy is in full development sounds an understatement” underline from See Lab, a laboratory born from the visionary idea of ​​the missing astrophysicist Giovanni Bignami and economist Andrea Sommariva and to whose leadership the astrophysicist Simonetta Di Pippo was called today. , just returned to Italy after leading the United Nations Office for Outer Space Affairs, based in Vienna, for 8 years. “Today the space economy is worth over 400 billion dollars and it is estimated that it will become one of the leading economies of the future, acting as a driving force for all other economies” notes the director Simonetta Di Pippo. “It is important to clarify one aspect: the space economy is not just the future. It is the present” explains Di Pippo who points out how “data and infrastructures deriving from space activity play, and will play more and more in the future, a key role in improving the quality of life on Earth. Consider, for example, the fundamental role of satellite technologies not only in communications but also in managing the effects of climate change “. The minister of technological innovation and digital transition with responsibility for space, Vittorio Colao, will also discuss these issues at the conference on Monday, which is opened by the president of Bocconi University Mario Monti. The astrophysicist Patrizia Caraveo of INAF also takes part in the Forum; the ESA astronaut and general of the Italian Air Force, Roberto Vittori; the president of the Leonardo Foundation, Luciano Violante; the president of ASI, Giorgio Saccoccia; Giulio Ranzo, CEO of Avio; Luigi Pasquali, CEO of Telespazio; Massimo Comparini, CEO of Thales Alenia Space; Andrea Falleni, CEO of Capgemini; Luca Rossettini, CEO of D-Orbit And there is a total ferment around the global Space Economy and, in this panorama, in space activities, companies are increasingly playing a role alongside institutions. A framework in which “a multidisciplinary analysis becomes crucial not only of the impacts that the space economy produces on the future development of space exploration itself, but also of its enormous economic, environmental and social repercussions on Earth”. For this reason, the See Lab, the Space Economy Evolution Laboratory of SDA Bocconi, dedicates the theme of the Fourth annual conference organized in Milan next Monday, June 27, to the role of multidisciplinary research in the space economy, and which calls together institutions and companies to discuss the value of an integrated approach to research in supporting both the space and non-space sectors. The development of satellite technologies was the subject of one of the recent analyzes by Sda Bocconi’s See Lab which, in collaboration with Cnr, conducted a study entitled “Economic Theory Applied to Space Debris Scenarios” aimed at estimating the risk of collision between active satellites and space debris in the low earth orbit (Leo, Low Earth Orbit, 400 kilometers above the Earth) and to explore the economic incentives for satellite operators to take risk mitigation measures. These analyzes made it possible to assess whether a free market context can stimulate the formation of solutions capable of responding to the challenge of space debris (i.e. whether it provides operators with the economic incentive to adopt or develop mitigation measures), or whether it is necessary the intervention of public institutions to finance mitigation strategies and, in particular, the development and adoption of complex technologies. From low Earth orbit to the exploration and use of lunar resources, the recent activities of the Space Economy Evolution Laboratory have also focused on the economic sustainability of the lunar commercial market, which will depend on the demand for Moon-based products and services distributed on the Moon and, to a lesser extent, on Earth such as, for example, the production of propellant from lunar ice to refuel rockets. On this front, the See Lab Bocconi, within the Moonlight Initiative of the European Space Agency (ESA), has produced a preliminary assessment of possible future commercial cases, taking into account the potential demand from both the Moon and the Earth. Space for Space and Space for the Earth, these are the two great lines of research and dissemination of knowledge of Sda Bocconi’s Space Economy Evolution Lab. Launched in 2018, under the guidance of the economist Andrea Sommariva and born from a visionary idea of ​​himself and of the astrophysicist Giovanni Fabrizio Bignami, the See Lab can count on partnerships with numerous companies, not only directly linked to space activities, to underline the strategic importance that the space economy is playing in the market. With the recent entry of Capgemini, the partnerships of the See Lab today embrace companies such as Avio, D-Orbit, Space Alliance (Telespazio and Thales Alenia Space) and Sitael.

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