Satellite navigation, weather forecasting, and television all run through the space economy, and Goldman Sachs now expects that economy to be worth $1.8 trillion (about £1.3 trillion) by 2035. Elon Musk, chief executive of SpaceX, read the forecast and answered in five words: 'It will be much bigger.'
The projection comes from the Goldman Sachs Global Institute. Its report, The Second Space Age, by George Lee and Dan Keyserling, was published on 12 August. Space, they argue, has stopped being a government prestige project and become 'a new pillar of the industrial economy.'
