Could you soon be taking trips to outer space? Some experts think so. Rocket launches have become much less expensive, so thousands more satellites—and many more people than ever before—can venture into orbit. But more objects in space also mean more space debris and higher risks of collisions. In this edition of The Next Normal, McKinsey experts and industry executives envision the space industry’s next decade.

The view to 2030

“If you don’t think you’re going fast enough, you’re not”

Hear three of McKinsey’s aerospace experts describe the ways in which future activity in space will benefit people on Earth—and some challenges that could arise along the way. Chris Daehnick, Jess Harrington, and Jesse Klempner imagine the space economy of tomorrow.
Read the transcript

 

EXECUTIVE VOICES

In the next decade, expect giant leaps in outer space

It’s an exciting time for the space industry. Four leaders in the aerospace sector predict breakthrough discoveries and a burgeoning space economy by 2035, as governments and companies look to do more in outer space.

Debra Facktor

Head of U.S. Space Systems, Airbus U.S. Space & Defense
00:00

“One of the most important things we can do is to continue to invest in talent, in encouraging young people to pursue technical careers—especially women and underrepresented minorities—to go into fields like aerospace.”

See the full interview

Joe Landon

VP, Advanced Programs Development, Lockheed Martin Space
00:00

“I think what we’re gonna see in the future is ‘space for space.’ So, at the moon, there will be services where the value is created and the transactions happen in space, for space. For example, you could have a spacecraft that gets refueled in space.”

See the full interview

Peter Platzer

Cofounder and CEO, Spire Global
00:00

“I do believe that, in 15 years, we will have structures in space that are not just government owned but are commercially owned, commercially operated. And they will be not just for research, but they also will be for tourism.”

See the full interview

Robbie Schingler

Cofounder and chief strategy officer, Planet Labs
00:00

“Here are a couple of things I think [will happen] in the next ten years, around 2030. There will be regular space travel. We will have humans who have landed on the moon. And I bet that we will identify life.”

See the full interview

More on the future of space

Article

Space: Investment shifts from GEO to LEO and now beyond
– Investors have recently focused on space ventures in low-Earth orbit, but interest is growing in lunar and beyond orbital regimes.... Here’s what you need to know about this ongoing trend.
Article

R&D for space: Who is actually funding it?
– Government still funds most space-sector R&D, but private companies have recently driven a notable uptick in overall investment.
Commentary

Expectations versus reality: Commercial-satellite constellations
– Many commercial-satellite operators are still creating overly ambitious plans, but more companies are now making steady progress... toward their launch goals.
Article

Look out below: What will happen to the space debris in orbit?
– With more satellites and space debris in orbit, it’s time for a new approach for mitigating collisions.
Commentary

Wall Street to Mission Control: Can space tourism pay off?
– With the COVID-19 pandemic curtailing earthly travel, space tourism may seem like a far-fetched dream—but some companies are betting... on high demand.
Article

Large LEO satellite constellations: Will it be different this time?
– New satellite constellations are on the cusp of deployment, but their long-term success hinges on substantial cost reductions.

The Next Normal explores the future of grocery, college, video entertainment, and more.

Be future-ready.
Download this edition

Latest editions of The Next Normal

The future of biotech: AI-driven drug discovery

Could this be a glimpse into life in the 2030s?

The future of video entertainment: Immersive, gamified, and diverse

View all editions