Citi expects the space industry to reach $1 trillion in annual revenue by 2040, with launch costs dropping 95% to unlock more services from orbit.
Despite Citi's optimistic outlook, the firm emphasized that much remains speculative in the industry,"such as space-based solar power, moon/asteroid mining, space logistics/cargo, space tourism, intercity rocket travel, and microgravity R&D and construction."
The bank credited the private sector for the sharp decline in costs."Lower launch costs were pioneered by SpaceX with the launch of Falcon 9 in 2010," Citi said. The rocket dropped the average cost per kilogram down to around $2,500, 30 times lower than NASA's Space Shuttle's costs and 11 times lower than the previous historical average.
While satellite revenues have dominantly come from services like television, the bank sees an expansion into applications ranging from consumer broadband to mobile connectivity to internet-of-things networks.Project Kuiper will accelerate this shift through"greater accessibility" to internet services across the globe.
As to human spaceflight, Citi noted that the failure rate for crewed launches is less than 2% historically. But that"is still far too high for space passenger flights," it said, given that commercial aviation experiences failures at the minuscule rate of about 0.0001%.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Mayoral candidate Willie Wilson plans another giveaway, this time $1 million in gas and foodWilson’s charitable giving raises thorny issues about a candidate providing handouts to potential voters.
Leer más »
Get three months of Hulu for $1 each during National Streaming DayIt’s time to binge-watch quite literally everything.
Leer más »
City Council Panel Agrees to Pay Family of Man Murdered by Off-Duty Cop $1.9MThe City Council’s Finance Committee voted unanimously to pay $1.9 million to the family of a man who was murdered by an off-duty police officer during a confrontation in January 2017.
Leer más »
Jack Dorsey’s Block hits $1.3B in Q1 profits, $43M in BTC trading revenueCash App users continue to stack sats contributing to the 'meaningful adoption' of Bitcoin.
Leer más »
Anchor saw $1 billion of liquidations during UST and Luna's death spiralLast week, Anchor saw more than $1 billion in liquidations, the largest liquidation event for a single DeFi protocol.
Leer más »
This tiny Jersey Shore bungalow sold for $1.2M in just 1 dayThe bungalow in Stone Harbor has 2 bedrooms and 1 bathroom and is 1.5 blocks from the beach.
Leer más »