World Economic Forum
December 11, 2024
This video is part of: Centre for the Fourth Industrial Revolution
Space might seem like a distant frontier, but its influence is profound and growing. Dr. Alice Bunn, former head of the UK’s space agency and current leader of UKspace, emphasizes that the benefits of space technology are already embedded in our daily lives.
Space is improving the lives of every single person on the planet
”The rise of cheaper, smaller satellites has crowded low-Earth orbit, raising the risk of collisions and debris buildup. According to Bunn, “The space operating environment is becoming increasingly contested and congested. The bits of space we use are much more finite than most people realize.”
New technologies are focusing on refueling and repairing satellites in orbit. Bunn compares the current approach to buying a car, running it out of fuel, and then discarding it. Emerging capabilities aim to revolutionize this model, reducing waste and costs.
With public and private investments surging, the space economy is growing at 9% annually—outpacing global GDP. Projections suggest it will reach a staggering $1.8 trillion by 2035.
World Economic Forum
December 11, 2024