The role of space in driving sustainability, security, and development on Earth

| Article

The world is in a space renaissance. Expanding activity in space is beginning to outpace governance, technological progress is increasing accessibility, commercial funding is at an all-time high, and more nations and companies are clamoring to be part of the activity. Already space plays a role in advancing global sustainability and security priorities, but the potential is even greater. The future is in the balance, and all stakeholders have the capability to contribute to a more successful sector.

Advancements in space technology over the past decade have opened access to more players, unlocked new use cases, and positioned space to help address significant global priorities. Throughout, international and cross-sector collaboration has occurred in several areas.

However, the accelerating growth of the space sector and complex global dynamics pose a risk to continued international collaboration, the longevity of governance frameworks, and, thus, industrial progress in the ecosystem. To fully realize the benefits of space, the international community will likely need to quickly consider how to intentionally maintain space as an arena of collaboration.

McKinsey and the space sector

Learn more about our work in the space sector

This report (download below)—a collaborative effort with the World Economic Forum, and informed by the views of approximately 100 industry leaders—describes potential scenarios for the future of space. It identifies five actions that could put the industry on the path to more positive outcomes, in which the full benefits of the space economy are realized.

We invite you to read the report to learn more on what industry leaders believe it will take to put each of these actions into practice—and why these are keys to unlocking the potential of the future space economy.

The future of space is in humankind’s hands. By taking the right actions today, there may be lasting benefits from a peaceful and vibrant space sector that creates economic value, and also enhances the sustainability, security, and accountability of actors on Earth.

Download the full report: The role of space in driving sustainability, security, and development on Earth (PDF-3.42MB).

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