From the crowded small satellite market to commercial geospatial imaging, the private space technology industry is evolving. Here are 5 major trends and the players shaping its future.
For example, Space X — Elon Musk’s company which designs, manufactures, and launches rockets & spacecrafts — has completed multiple successful projects, including launching and landing a used rocket into space in 2017.
As one of the most valuable private companies in the world, the company has helped drive the industry forward, especially with its $1B Series F mega-round in 2015.
But not all players across the industry are achieving similar success.
With competition heating up, rocket and satellite development costs falling, a regulatory embrace of private spaceflight, and better remote sensing & data analytics capabilities, space tech is increasingly becoming an industry to watch.
Below, we surface five space tech trends to look out for in 2019.
(For more on space tech, check out our research on the state of space travel.)