Idea in Brief
The Situation
Space is becoming a potential source of value for businesses across a range of sectors, including agriculture, pharmaceuticals, consumer goods, and tourism.
The Explanation
Rocket launch companies like SpaceX, Blue Origin, and Sierra Space have leveraged advances in microelectronics and computing to drive down the costs of getting to space.
The Opportunities
This article examines four ways that companies can create value using space: through data, capabilities, resources, and markets. For most companies thinking about their space strategy over the next five to 10 years, data will be the dominant focus. The other areas hold promise for later exploration. Companies engaging with commercial space should be willing to experiment and look for partners.