Leonard David's INSIDE OUTER SPACE

A study from the Royal Bank of Canada (RBC) notes that the global space economy is poised to nearly triple to $1.8 trillion by 2035, making the value derived from orbital assets equivalent to that of some G20 economies.

“We’ve entered an ambitious new space age—and Canada needs an ambitious new space strategy,” the study explains. As for what’s at stake?

“Our sovereignty in a more divided world…our prosperity in a new tech universe…and our relevance to allies when the ‘final frontier’ is suddenly the next economic and strategic frontier,” suggests the study.

Essential pillars

According to the RBC, Canada can seize this moment by building a space strategy around five essential pillars:

• Sovereignty: Building a space industrial base
• Defense: Becoming an essential ally in the Arctic
• Technology: Using satellites to secure a digital leap
• Commercialization: Breakthrough research and development
• Climate: Protecting Earth from the sky

To access the full Royal Bank of Canada report – “A Higher Orbit: How Canada can build and finance a bolder space strategy” – go to:

https://www.rbc.com/en/thought-leadership/space/a-higher-orbit-how-canada-can-build-and-finance-a-bolder-space-strategy/