SpaceTech Analytics (STA) is a newer entry into analysis of the space sector with their own particular methodology. This week they released their 244 page Q3 report which while providing a good overview, does warrant an asterisk of caution.
Before we get into what the report states, a short introduction of who they are and what they aim to do is warranted. They describe themselves as “a strategic analytics agency focused on markets in the Space Exploration, Spaceflight, Space Medicine, and Satellite Tech industries.”
Their value proposition includes;
- Deep analysis of the deal-making prospects in the SpaceTech space, identification of top mini-trends and larger tendencies in innovations and technology adoption.
- Tangible forecasts on the 3-5 years horizon, providing an overview of future scenarios of the development of various technologies in the SpaceTech industry.
- Practical guides for adopting various technological solutions and best practices, vendor profiling, and contract research strategy building.
- Analysis of key market players in the emerging and high-growth areas of the SpaceTech industry.
- Comparative competitive analysis of companies, investors and government agencies to make automated algorithm-driven analytics for scoring and ranking industry entities.
- Technical reports and case studies on different topics related to the SpaceTech industry as a business development assistance services and analytics.
- White-label solutions in the form of interactive IT platforms, extensive data analytics dashboards and interactive mindmaps.
There are somewhat similar offerings from outfits like Euroconsult, Bryce Technology, Northern Sky Research, the Space Foundation etc.
The principals include Oleksii Rud, the Head of SpaceTech Analytics, Alex Cresniov, Director of Deep Knowledge Analytics, Stefania Savenim, Director of Business Development, and Rand Simberg, Business Development consultant. I know Rand and he’s been a commentator/consultant in the U.S. for several decades.
STA relies on a database they’ve put together with analysis by some 20 subject matter experts, many known within the industry. So while the report is worthwhile reading, the are instance where I find the data needs some updating or further explanation.
An example is the number of Canadian companies as being in the space sector. They state there are 610. That eclipses what we believe can be considered space companies in Canada.
Another example revolves around Maxar and MDA. MDA is listed as having gone public and that’s it. It seems MDA in this updated report for Q3 is still bundled with Maxar in the data. In fact Maxar is still listed as being located in Richmond, BC in the 30 page teaser version of the report. There are other examples as well. Which brings into question the reliability of some of the data.
The report includes notable sections on SpaceTech Industry in Figures, Top Publicly Traded Companies, Space Government Activity, Space Law, Economics of Space, Space Transportation Infrastructure, Space Health, ISRU, Satellite Servicing, Off-Planet Construction, Private Spaceflight, and Space Solar Power.
The reports conclusions – key financial takeaways
- Over the past decades, space has attracted many participants, with New Space and non-space companies entering various industry development chains. The number of private space-related companies is prevalent in the United States, while Asian and European regions accelerate the activity.
- North America is the leading region by SpaceTech companies, with more than 6600 companies in the area. It is followed by Europe & Central Asia with 2681 companies and East Asia & Pacific with 1131 companies. The US is firmly in the lead regarding the number of SpaceTech companies (52.1%). The UK ranks second (5.7%), while Canada, China, Germany, and India follow (4.9%, 4.5%, 3.8%, and 3.6%, respectively). We have also designed and implemented a method to analyse the depth of governmental activity of different countries.
- Showing stable growth, the global SpaceTech economy was valued at $4T in 2020 and is expected to grow to $10T by 2030. According to the most conservative estimates, it accounts for 0.5% of the global GDP. This will dramatically impact the annual growth in the global SpaceTech market, primarily because of the growth of the development of Satellite Technologies, the Space Exploration sector, and advances in AI, IT, FinTech, and other digital technologies.
- Our Top 20 Core Publicly Traded Companies by Capitalization in 2021 include Korea Aerospace Industries, IHI Corporation, AT&T Inc., Honeywell International Inc., and The Boeing Company sharing the first five places whose cumulative capitalization is estimated to be more than $4T. The most recent SpaceTech companies that have achieved IPOs include: Redwire (09/08/2021), Rocket Lab (08/25/2021), and Virgin Orbit (08/23/2021).
- The SpaceTech industry is experiencing rapid growth and gaining momentum among entities that were not space-related initially, but have expanded into the sector. We include the top 20 verge SpaceTech companies that have recently started to contribute to the industry or are positioning to establish themselves in the booming industry. These include Amazon with the project “Kuiper”, Jacobs and its Space Exploration Challenges, Intel with the first AI technology enablers to supply its VPU in a “satellite-as-a-service” space mission, and Garmin’s GPS systems.
Download or read the full STA Q3 report