Bank of America predicts that the growing space economy will more than triple in the next 10 years . The company predicted this week that the space market will grow to 1.4 trillion US dollars.
“Although the new crown pneumonia pandemic has caused the delay of some public and private projects… The epidemic does not seem to have harmed overall investment.” Bank of America analyst Ron Epstein wrote in a research report to investors: Much of this may be because most of the space expenditures are business-to-business/government (B2B/G) spending, and their recovery is usually faster than business-to-consumer (B2C) spending.”
The continued growth of the space economy is largely a record of private investment and new investment opportunities. These companies are involved in aerospace, satellites and other fields.
Although Bank of America only tracked 14 publicly traded stocks related to the space industry, Epstein stated that “there will be more in the future.”
Based on the average compound annual growth rate of 10.6% over the past two years, Bank of America predicts that the industry’s revenue will grow by 230%, from approximately US$424 billion in 2019 to approximately US$1.4 trillion in 2030.
This will be close to the scale of the current global tourism economy. The Bank of America pointed out that the global tourism economy is US$1.5 trillion.
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