What is « New Space »?
« New Space » refers to the current dynamic in the aerospace industry, which has been revitalized by a growing number of private sector initiatives operating increasingly powerful satellites, making greater use of the images they produce thanks to the Internet of Things, facilitating access to this information and reducing its cost. This phenomenon, which began in the United States in the late 1990s, has spread to Europe, where more and more players, such as start-ups, have entered this field, notably with the support of the European Space Agency (ESA), enriching the sector with new technologies from the digital, big data, and aeronautics fields.
What are the benefits of New Space?
While the scope of such satellite technologies was originally military and focused on strategic issues, a growing number of opportunities are emerging for these technologies, which are a rich source of information whose potential is still largely unknown and under-exploited.
Satellite Earth observation, particularly thanks to the new possibilities offered by New Space, thus offers many advantages over other sources of information. First of all, access to such data is less expensive, notably due to the miniaturization and simplification of satellites and instruments, particularly thanks to the rise of Artificial Intelligence. This information is also more accurate (resolution level) and has a higher observation frequency, even in near real time (revisit rate). It is also provided on a macroscopic scale, allowing for the comparability of this data over time and space. In addition, the development of new Earth observation satellite technologies that can be integrated into nanosatellites, such as multispectral, hyperspectral, radar, and infrared, provides unprecedented information on previously unobserved elements, such as greenhouse gas emissions, the state of the seabed, and the health of agricultural land.
Satellite technology is thus making an increasing contribution to economic and environmental issues. On the one hand, it improves « nowcasting, » which is the real-time forecasting of macroeconomic variables such as gross domestic product (GDP) or inflation. Satellite data provides information on maritime traffic, nighttime brightness, and vehicle parking in shopping centers, enabling improvements in this type of forecasting. On the other hand, satellite technology is a powerful tool for measuring the state of the environment, enabling us to assess its current condition and thus respond to the issues of sustainable development and climate change, the importance of which is now well established.
What are the prospects for New Space?
The emerging and high-potential Earth observation market offers great prospects for New Space. In this market, which is worth more than $70 billion worldwide in 2020, the offering is evolving from the provision of data to the provision of genuine economic, environmental, and strategic intelligence services. In addition, European private initiatives that are part of the « New Space » movement are currently being strongly encouraged by public authorities.
What are the benefits of Earth observation by satellite?
Satellite Earth observation offers a considerable return on investment. Unlike other technological advances, this dynamic contributes to the creation of many jobs without destroying existing ones. What’s more, the jobs created are highly skilled and therefore associated with gains in productivity. Furthermore, the solutions provided by such technologies, particularly in the environmental field, would also bring economic and social benefits. For example, satellite Earth observation would make it possible to better predict, anticipate, and manage natural disasters, which cost USD 3.54 billion between 1999 and 2018 and claimed 108 million victims worldwide in 2018.
