Source page: McKinsey & Company
Commentary
A giant leap for the space industry
Aerospace | Space
January 19, 2023 – Davos—the World Economic Forum’s annual meeting—is in full swing through January 20. All this week, our daily charts will focus on some of the key themes of the event, including resilience, sustainability, reimagining globalization, inclusion, and space. For more, see “McKinsey and the World Economic Forum 2023.”
The space industry is set to take off over the next decade, find senior partner Ryan Brukardt, partner Jesse Klempner, and collaborators at the World Economic Forum. The space market, for example, has grown to approximately $447 billion—up from $280 billion in 2010—and could grow to $1 trillion by 2030. The number of active satellites—which can handle tasks ranging from tracking data on climate change to processing credit card transactions—could triple within the next decade.
To read the report, see “The role of space in driving sustainability, security, and development on Earth,” May 19, 2022.
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Visual form
Two-panel growth chart sequence.
Layout / body structure
The chart reads as a paired growth story, with one part focused on the space market’s revenue trajectory and the other on the expansion of active satellites. Reader takes the market-size panel first and then reads the satellite panel as the operating-scale companion.
What is being compared
It compares the historical and projected size of the space market with the expected increase in the number of active satellites over roughly the same period.
Measurement system
The market comparison is measured in dollars, while the second comparison tracks the count of active satellites. The chart uses labeled milestones to show how both the money base and the operating footprint are scaling up.
Visible structure inside the graphic
The internal pieces are the market-value progression and the satellite-growth companion view, with each panel using its own labels but reinforcing the same upward trajectory. The paired layout makes revenue growth and infrastructure expansion read as two sides of the same industry climb.
Main takeaway from the visual
The page presents the space sector as moving from a sizable market into a much larger one, with operating capacity growing alongside it. The visual is constructed to make future growth look broad and structural rather than speculative.
Key standout values or extremes
The market is shown at roughly 280 billion dollars in 2010, about 447 billion dollars more recently, and potentially 1 trillion dollars by 2030. The page also notes that the number of active satellites could triple within the next decade.
Controls / sequence, when applicable
This is a static chart image with no in-chart controls to operate.
Companion media, when applicable
There is no separate companion audio or video; the chart image is the full visual on this page.