Prospects for space exploration: A strategic assessment
- Paper number
IAC-24,A3,1,4,x85209
- Author
Ms. Natalia Larrea Brito, Euroconsult, United States
- Coauthor
Ms. Candice Massucci-Templier, Euroconsult, France
- Coauthor
Mr. Alessandro Cattaneo, Euroconsult, France
- Year
2024
- Abstract
Space exploration is gaining increasing momentum as it cements itself as a field of high strategic importance for governments around the world. Global government investment in space exploration totaled \$26 billion in 2023. Still, the top five budgets concentrate over 90\% of total funding. Future funding for space exploration is expected to grow to support the ambitious plans of the next decade, reaching nearly \$33 billion by 2032.\\ Looking forward, the global vision in space exploration is currently focused on establishing a sustainable presence on the Moon as a pathway to Mars, with numerous government initiatives - such as the NASA-led Artemis program and the Russian-Chinese International Lunar Research Station (ILRS) - starting to materialize. Concurrently, governments also agree on the importance of maintaining a sustained presence in LEO with NASA and ESA seeking an increased participation/transition to the private sector. China and India are also ramping up their investments for their LEO station and crewed spaceflight missions, respectively. Robotic missions to Mars and other deep space missions will also continue to expand scientific knowledge and technical capabilities.\\ Space exploration is also attracting a growing interest from the private sector, which seeks to leverage the commercial potential in LEO, the Moon, and beyond. New public-private contractual schemes are taking shape, reflecting the willingness of space agencies to act as strategic partners and future customers of commercial services to achieve a cost-effective, sustainable model for space exploration.\\ This presentation and paper will provide a strategic overview of the space exploration sector, building on Euroconsult’s market intelligence report {\it "Prospects for Space Exploration, 4th edition"}.- Abstract document
- Manuscript document
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