Constellations spoke with Kelli Kedis Ogborn, Vice President of Space Commerce and Entrepreneurship at Space Foundation, about the new horizons of the space economy. The discussion included the drivers of growth in market verticals, redefining critical infrastructure and why entrepreneurs should take the leap into space.

Nontraditional Engagement in Space

“There’s really never been a better time to become part of the space ecosystem,” Ogborn says. In 2024, there are 91 nations in orbit and 105 nations that have reached space. There are as many as 9,000 satellites, with 212 launched last year and 20,736 licensed for future launch. “We’re talking about doubling the number of satellites in space within the next one to two years.”

The Space Foundation estimates that the space economy will be worth $772 billion by 2027, and a variety of industries are taking advantage of this predicted growth. Satellite launches are one area that has proven growth potential, and verticals like energy, propellants and digital engineering can take advantage by working on projects like commercial space stations, In-space Service and Manufacturing (ISAM) portfolios and building out infrastructure in LEO.

Deep space exploration, prompted by NASA’s Artemis missions, will also be an important area of growth over the next decades. Artemis will “create a lunar base to use as a future launch facility and verticals to get to Mars,” Ogborn says, opening a well of opportunity in the lunar economy for everything from studying human biology to environmental assessment—things that are necessary to establish a long-term lunar presence. “The landscape is now opening up to allow for more nontraditional engagement in space, both in the upstream and downstream effects,” Ogborn says.

‘Not Your Grandfather’s Space Industry’

“When we think about space, our mind goes towards rockets and satellites and astronauts, which is a cornerstone of growing out the ecosystem and industry,” Ogborn says. “But really, in order to achieve the collective wish that we are all pushing forward for, it’s going to require every background skill set, industry and interest.”

Agriculture, FinTech, biotech and healthcare use space often, through avenues such as data collection and microgravity experimentation. “The prospect of space is no longer just for companies led by tech experts or space enthusiasts … there are these disparate industries that are recognizing that they have opportunity and an entry point.”

As the space economy continues to expand, it may call for a redefinition of critical infrastructure. “There’s a lot of entities that have to work in concert,” Ogborn says. Because of this, future critical infrastructure may include innovations to combat space debris, a growing concern in LEO, as well as protecting data centers needed to guarantee communications across massive satellite constellations.

“This is not your grandfather’s space industry anymore,” Ogborn says. “It’s not just about rocket science.”

Does Space Have an Optics Problem?

Even as the space ecosystem grows rapidly across verticals, Ogborn worries that entrepreneurs may still be hesitant to invest in space. “It’s not quite the gamble that it once was,” she says. “We do have these profitable and proven anchor markets.” While space investing can feel flashy and highly risky, Ogborn says that it’s not just about “cool tech” but being able to scale, make money and demonstrate capabilities. “We are now moving beyond hype to really needing to demonstrate real value and real business models.”

“We have an optics problem in the way we talk about space,” Ogborn says. “Space is still talked about in mythical terms in a lot of the language and lot of the vernacular that we use.” While that keeps eyes on the industry, sometimes it can scare away investors and entrepreneurs, despite many proven ways to invest in space.

Space remains one of the most exciting places to engage in innovation. “With a lot of these technologies, we are really demonstrating the art of the possible,” Ogborn says. “We’re still kind of betting big on a hypothesis.”

For more on space-to-Earth markets, launching the low Earth economy and the Artemis era, listen to the full episode here.