Why the Future of Space Is Bigger Than SpaceX

The investable space economy is expanding beyond SpaceX toward satellite connectivity, data services, biotechnology and potentially orbital infrastructure as launch costs decline.

• The World Economic Forum projects a $1.8 trillion space market by 2035, while SpaceX estimates a roughly $2 trillion opportunity across space-enabled services, Starlink broadband and mobile connectivity.
• Reusable rockets such as SpaceX’s Falcon 9 and Rocket Lab’s Electron have lowered launch costs, and fully reusable vehicles could reduce them further; the article presents this as the foundation for broader commercial access.
• Low Earth orbit, roughly 100 to 1,200 miles above Earth, already hosts nearly 13,000 active satellites, while Goldman Sachs expects as many as 70,000 additional launches over the next five years; SpaceX has sought approval to expand its network to as many as 1 million satellites.
• Connectivity is already generating commercial revenue: Starlink reportedly produced more than $11 billion in revenue and $4 billion in profit last year, while Amazon and Rocket Lab acquired satellite communications businesses to obtain operating networks and spectrum rights.
• Space-based applications extend to pharmaceuticals and data: ISS research contributed to Merck’s Keytruda formulation, Varda returned ritonavir manufactured in orbit, and Planet Labs supplies daily Earth imagery used with Microsoft AI to identify illegal mining, logging and poaching.

Takeaway: Selected space companies could offer long-term exposure to a broad innovation theme, but the opportunity remains dependent on falling launch costs and greater capacity; delays, expensive launches and incidents such as the May 2026 Blue Origin engine-test explosion remain material risks.