Overall investment picture from last year
The past year was not a successful one for private investments in the space industry as they globally declined by 58 percent compared to 2021 according to the Space Investment Quarterly Q4 2022 report. If the total number of rounds in 2022 also decreased by 30%, late- and growth-stage companies were overall the most highly impacted while early-stage investments declined only 4% compared to the year prior. One exception was SpaceX, which raised some $2 billion last year and has already raised a reported $750 million in a new funding round. The report also anticipates a difficult upcoming year for start-up companies with investors expected to build on companies with more mature products.
Growth of the LEO satellite market
The Global LEO Satellite market size, estimated at around $4 535 million in 2021, is projected to reach $12 740 million by 2028. This increase will notably be due to the growth of LEO satellite-based broadband services driven by the growing need for reliable internet access, particularly in rural and remote areas. The growing demand for earth observation data which is also raising interest from investors and companies outside of the space industry, is another driving growth element in the LEO satellite market.
Exciting perspectives for the space exploration
The Exploration Company, which is developing the Nyx reusable space capsule, made headlines in the field of space exploration by securing a €40.5M in Series A funding led by EQT Ventures and Red River West. The Nyx capsule is expected to be used to fly science missions, resupply space stations, and, in time, host crewed missions. But a more unexpected company is also propelling the space exploration market growth: Rolls-Royce, which decided to enter the space sector when it signed a contract with the UK Space Agency in 2021, has unveiled its novel nuclear micro-reactor for space travel and moon bases.