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Skyroot Aerospace co-founder and CEO Pawan Chandana believes THAT current projections for the global space economy significantly underestimate its long-term potential, arguing that the industry's opportunities extend far beyond even the most ambitious estimates currently being discussed.
Speaking about the future of the sector on CNBC-TV18, Chandana said that the space economy is evolving so rapidly that conventional market projections are struggling to keep pace.
"Space today is a $600 billion market globally, set to become a $1.8 trillion market by 2035. But these are all slightly older numbers because, after Musk came out and said this is going to launch a million satellites, the whole market numbers are changing. In fact, the recent SpaceX IPO proposed a TAM of $28 trillion. Yeah, $28 trillion. Can you imagine? So I think the space market is far bigger than what you can imagine. It's a blue ocean. You can create your own market if you want to."
Asked whether the trillion-dollar estimates being floated by analysts appeared realistic, Chandana said they were still conservative. Expanding on his view, he said that innovation in the sector continues to create entirely new opportunities every year.
"I think they (estimates) are small."
"I think it can go bigger. It's just like how much more you can do, how much more you imagine. Because I've been watching the sector every year. There is a reboot every year. Every year, there are new opportunities, new things which we cannot imagine from the previous year. So I think, of course, they are very ambitious. But probably it could be even bigger. It just doesn't match our imagination today."
Also, Chandana identified satellite communications, direct-to-mobile connectivity and space-based data centres as the three biggest drivers of future demand. He also pointed to direct-to-mobile satellite connectivity as another major opportunity before highlighting the advantages of building data centres in space.
"One is communications. Billions of people will get access to high-speed data... Just imagine billions of people always getting connected with high-speed internet. That transforms life. That itself is a multi-trillion-dollar market."
"The third thing is data centres in space, and I strongly believe that the lowest cost of computers will be in space. Because you have eight times more energy for the same area of a solar panel in space, you get more energy and you get 24/7 electricity. You have no atmosphere to filter your energy. You can exactly put the panels right towards the sun. So many advantages," he added.
On when space-based data centres could become mainstream, Chandana said that early deployments were not far away.
"I think in two or three years, the initial prototypes will go, and they will start having good maturity of the technology, and in five years it should be quite common," he signed off.
Speaking about the future of the sector on CNBC-TV18, Chandana said that the space economy is evolving so rapidly that conventional market projections are struggling to keep pace.
"Space today is a $600 billion market globally, set to become a $1.8 trillion market by 2035. But these are all slightly older numbers because, after Musk came out and said this is going to launch a million satellites, the whole market numbers are changing. In fact, the recent SpaceX IPO proposed a TAM of $28 trillion. Yeah, $28 trillion. Can you imagine? So I think the space market is far bigger than what you can imagine. It's a blue ocean. You can create your own market if you want to."
Asked whether the trillion-dollar estimates being floated by analysts appeared realistic, Chandana said they were still conservative. Expanding on his view, he said that innovation in the sector continues to create entirely new opportunities every year.
"I think they (estimates) are small."
"I think it can go bigger. It's just like how much more you can do, how much more you imagine. Because I've been watching the sector every year. There is a reboot every year. Every year, there are new opportunities, new things which we cannot imagine from the previous year. So I think, of course, they are very ambitious. But probably it could be even bigger. It just doesn't match our imagination today."
Also, Chandana identified satellite communications, direct-to-mobile connectivity and space-based data centres as the three biggest drivers of future demand. He also pointed to direct-to-mobile satellite connectivity as another major opportunity before highlighting the advantages of building data centres in space.
"One is communications. Billions of people will get access to high-speed data... Just imagine billions of people always getting connected with high-speed internet. That transforms life. That itself is a multi-trillion-dollar market."
"The third thing is data centres in space, and I strongly believe that the lowest cost of computers will be in space. Because you have eight times more energy for the same area of a solar panel in space, you get more energy and you get 24/7 electricity. You have no atmosphere to filter your energy. You can exactly put the panels right towards the sun. So many advantages," he added.
On when space-based data centres could become mainstream, Chandana said that early deployments were not far away.
"I think in two or three years, the initial prototypes will go, and they will start having good maturity of the technology, and in five years it should be quite common," he signed off.
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