Germany stakes claim in new space race
Key takeaways
- German companies of all sizes and all over the country are developing satellites and space applications.
- https://p.dw.com/p/5Dp M7The space industry is worth billions and many want a slice of the pie Image: Aleksandr Volodin/Zoonar/picture alliance Advertisement.
- And many want a slice of the new private spaceflight pie.
Why this matters: an international story with cross-border implications worth tracking.
German companies of all sizes and all over the country are developing satellites and space applications. They want to be part of the lucrative industry, which is increasingly crucial for civilian and military purposes.
https://p.dw.com/p/5Dp M7The space industry is worth billions and many want a slice of the pie Image: Aleksandr Volodin/Zoonar/picture alliance Advertisement. The space industry is a multibillion-dollar business. According to a study by the German consulting firm Roland Berger and the Federation of German Industries (BDI), the market is worth around $600 billion (€516 billion) and growing. By 2040, it is predicted to be worth $2.32 trillion. That is about four times Germany's federal budget in 2025.
And many want a slice of the new private spaceflight pie. Currently, some $150 billion is flowing into the "upstream market," which "comprises production of the infrastructure required on Earth and in space, from launch pads, ground segments, and satellites," according to Roland Berger. A much larger share — approximately $450 billion — has been invested into downstream applications, which "consists of space-based solutions — positioning, navigation & timing, Earth observation, and satellite communications."