A Game-Changing Approach to Space Data Analytics
Original Article by SpaceTech Analytics
The goal of SpaceTech Analytics’ methodology is, for the first time, to index the entire space industry.
SpaceTech Analytics recently released a comprehensive 245-page analytical report on the global SpaceTech industry for Q3 2021. This report summarized crucial observations in the SpaceTech ecosystem as a rapidly evolving and exponentially growing industry. We assembled information about key industry trends and created an unprecedented database of more than 12,000 SpaceTech-related companies, 5,000 leading investors, 200 R&D Hubs and Associations, and 140 government organizations.
The key to such an in-depth study of this topic lies in the approach used by the SpaceTech analysis where we analyzed the entire industry. In this article, we provide an overview of the constantly growing SpaceTech economy, valued at $4.7 trillion in 2021 and expected to grow to $10 trillion by 2030. According to the most conservative estimates, SpaceTech accounts for 5% of the global GDP. This number is immense and became the reason why we developed a new approach to estimating it.
SpaceTech Analytics analyzed more than 12,000 SpaceTech companies chosen according to our original methodology for our previous reporting. In the new scheme, all the entities analyzed for our initial SpaceTech Industry Landscape Overview were divided into three main categories: Core Companies, Verge Companies, and Space-Applied Businesses, based on the following criteria:
All the analyzed companies were selected by means of manual and automated search from open web sources. Further sorting of the database was executed both manually and with the use of algorithms. The methodology may contain a slight inaccuracy due to the partially manual construction of the database. However, all the minor inaccuracies will be improved in the future along with the integration of more advanced AI-driven algorithms for full database aggregation.
The largest share of the database consists of space-related companies. All of the companies included are developing technologies that will form the backbone of the rapidly growing space industry. Their technologies are at different stages of development, from prototype to first experiments, to be placed into orbit or on another planet. Some businesses barely touch the edge of the SpaceTech industry; however, since the growth curve is steep, we expect them to join the SpaceTech economy soon with their solutions and technologies that are cutting edge now in the following industries:
Overall, we have created a framework that will apply to most participants in the global SpaceTech ecosystem. Our methodology should be of interest to the following groups of stakeholders in that ecosystem:
Scientists and SpaceTech Professionals
Influencers and Media
Investors and Founders
Military and Defense
SpaceTech Analytics Industry Classification
With the release of our latest report, all the SpaceTech companies are now associated with our interactive mind maps, which can provide profiling info about any company in our database and interactive IT-Platform, which provides not only an overview of each company but a competitors search, investors, and an open-access report.
However, this is just the beginning. SpaceTech Analytics plans to go further in its characterization of the industry and create a first-of-its-kind “Spaceness Index.”
The team at SpaceTech Analytics has experts, advisors, and partners with decades of experience in this field. Because the industry is huge, no one person has a true understanding of its scope, definition, and foreseeable future. In this regard, SpaceTech Analytics decided to create a useful index of the industry by rating companies for all key players to provide an understanding of the degree to which the companies are involved in space and are a potentially good investment.
We believe the investors will be the primary stakeholders in our Spaceness Index because of their need to understand the investment potential of any company in the industry. We hope that our Index will help institutionalize some new areas in the space industry, increase the amount of investment from large and medium-sized players, and satisfy the demand for this classification, which already exists on the market.
Because SpaceTech Analytics is a leading strategic and analytical agency focused on the emerging markets in Satellite Technology, Advanced Start-ups, Space Law, and Economics, we believe that it is important that our methodology be both effective and transparent. In addition to providing a huge amount of data to key stakeholders, the methodology per se, open-access reports, and the approach to the industry description are designed to provide key strategic recommendations and guidance regarding space-related technologies and techniques within the reach of companies, other entities, and nations. Our goal is to help them optimize their action plans and strategies and provide specialized guidelines for business and investment core decisions. The SpaceTech industry is experiencing rapid growth, and we expect this to continue. Thus, the necessity of such a solution is crucial not only for major players in this industry but also for those in the related industries who may wish to enter it. We do this because we believe that the development of space technologies is one of the most promising areas for the current and future benefit of all humanity, and we want to make it easier for new entrants to participate.