Back to the future

Space, robotics and quantum technologies are becoming critical infrastructure themes that investors should approach selectively over the long term rather than as speculative standalone bets.

• The space economy has expanded sharply: 15,711 operational satellites were in orbit by 1 April 2026, almost eight times the 2019 level, while SpaceX’s Starlink accounted for almost two-thirds of the total with more than 10,000 active satellites.
• Space infrastructure now supports navigation, transport, electricity grids, supply chains, security and climate monitoring; SpaceX’s connectivity business is already profitable, although launch systems and AI investment weigh on consolidated results.
• AI is increasing demand for computing capacity, encouraging experimental work on orbital data centres, while quantum computing is driving investment in post-quantum cryptography, secure communications and quantum-ready critical infrastructure.
• Industrial robotics has surpassed four million installed units globally, with automotive and electronics leading deployments; humanoid robots could become a several-billion-dollar market by 2030 as generative AI extends automation into warehouses, factories and selected services.
• Healthcare robotics is expanding because of demographic ageing and staff shortages, while quantum applications in optimisation, molecular simulation and treatment personalisation remain at the research stage; autonomous weapons, employment, data protection and technological dependence add material risks.

Takeaway: Investors should gain exposure through companies creating sustainable economic value across these value chains, while maintaining prudent risk allocation and avoiding the most publicised projects and unproven promises.