The cost of launching satellites into space has fallen substantially in recent years, largely due to companies like SpaceX, according to Mark Boggett, chief executive officer and co-founder of investment firm Seraphim. This reduction in cost has made it possible for countries to build satellite constellations for low-millions of dollars.
Boggett, speaking on the MoneyWeek Talks podcast, stated that this accessibility has led to a new space race, with countries rapidly developing their own sovereign capabilities for accessing space. He highlighted that space, much like artificial intelligence (AI), is not merely a sector but a facilitator impacting nearly every industry.
The impact of space is far-reaching, influencing mega themes such as defence, climate and sustainability, smart cities, and food security. Boggett noted that the ongoing Ukraine-Russia war has demonstrated space's impact on defence, with Ukraine utilising SpaceX's Starlink for battlefield communications and ICEYE's microsatellite system for territorial scanning.
Boggett also pointed to investment opportunities in technologies for nuclear power, cell towers, AI data centres, and solar farms operating in space. He specifically mentioned solar farms in space as a key reason for his entry into space investment, viewing them as an alternative to fossil fuels for climate considerations.