In a conversation about the sector’s future on CNBC-TV18, Chandana mentioned that the space economy is advancing so swiftly that traditional market forecasts are struggling to keep up.
“Currently, the space market is valued at $600 billion globally and is projected to grow to $1.8 trillion by 2035. However, these figures are somewhat outdated, especially after Musk announced plans for launching a million satellites, leading to a shift in market dynamics. The recent SpaceX IPO puts the Total Addressable Market (TAM) at an astonishing $28 trillion. Yes, $28 trillion. Just think about it! The space market is far more expansive than we can even conceive. It’s a blue ocean. You can essentially carve out your own market if you desire.”
When asked if the trillion-dollar projections made by analysts seemed plausible, Chandana characterized them as conservative. He elaborated that ongoing innovation in the sector continually generates entirely new opportunities each year.
“I believe those (estimates) are underestimated.”
“I think it could be even larger. It’s about how much more can be achieved and how much more can be envisioned. I’ve been monitoring this sector annually, and it experiences a reboot every year. New opportunities and advancements emerge that we couldn’t have imagined the previous year. So while the estimates are ambitious, they could indeed be even larger. They simply don’t align with our current imagination.”
Chandana also identified satellite communications, direct-to-mobile connectivity, and space-based data centers as the three primary drivers of future demand. He emphasized direct-to-mobile satellite connectivity as a significant opportunity and highlighted the benefits of establishing data centers in space.
“First, there’s communications. Billions of people will gain access to high-speed data… Just envision billions of individuals consistently connected to high-speed internet. That would revolutionize lives. That alone represents a multi-trillion-dollar market.”
“The third point concerns data centers in space, and I firmly believe that the lowest costs for computing will occur in space. With eight times more energy available per square area of solar panels in space, you obtain more energy and continuous electricity. There’s no atmosphere to filter your energy. You can position the panels directly toward the sun. There are numerous advantages,” he added.
Regarding when space-based data centers might become mainstream, Chandana anticipated that early deployments are not far off.
“I project that in two to three years, initial prototypes will launch, and the technology should achieve considerable maturity, making it quite common in five years,” he concluded.
