Space industry is on its way to $1 trillion in revenue by 2040: Citi
A Falcon 9 rocket carries 49 Starlink satellites toward orbit on Feb. 3, 2022.SpaceXThe space industry should reach $1 trillion in annual revenue by 2040, with launch costs dropping 95%, Citigroup analysts said in an extensive report published this month.A further decline in the cost of accessing space would create more opportunities for technological expansion and innovation, unlocking more services from orbit such as satellite broadband and manufacturing, the bank added.Citi's estimates for the industry match forecasts published in recent years by Morgan Stanley, Bank of America and others. The global space economy's value reached $424 billion in 2020, according to research from the Space Foundation, having expanded 70% since 2010."Revenue from manufacturing, launch services and grou...