When we talk about the space industry, most people think of reusable rockets and millionaire tourists. But under the radar, a more complex orbital economy is taking shape: mining asteroids, manufacturing components in near-zero gravity, and deploying satellite constellations that promise to change global connectivity. This is not science fiction; it is the next frontier of business.
According to estimates by the consulting firm McKinsey, the global space economy could exceed one trillion dollars by 2040, driven not only by tourism but by manufacturing and resource extraction.
The rise of microgravity manufacturing
In space, near-zero gravity allows the production of alloys, crystalline proteins, and optical fibers with a purity impossible on Earth. Startups and aerospace giants are already experimenting with 3D printers on the International Space Station. The goal: to produce materials that could revolutionize medicine, electronics, and construction.
Orbital manufacturing
Microgravity manufacturing takes advantage of the absence of convection and sedimentation to create materials with perfect structures. For example, ZBLAN fluoride glass fibers can be much more efficient for transmitting light if made in space, which could make high-speed internet cheaper.
Asteroid mining: a long-term bet
Although it sounds like a movie, asteroid mining is an explicit goal of several space agencies and private companies. Asteroids contain platinum, iron, and water, which can be converted into rocket fuel. NASA has already demonstrated that it is possible to land on an asteroid and collect samples, but commercial extraction still faces technical and legal challenges.
The 1967 treaty, which establishes that space is the patrimony of humanity, does not prohibit extraction, but it does leave doubts about ownership. Several countries have passed laws allowing their citizens to keep resources they extract, creating an incipient but controversial legal framework.
Satellite logistics: the business of the moment
Away from asteroids, the most profitable business today is satellites. Low-orbit constellations like Starlink already provide internet to remote areas. But satellite maintenance and repair services are also emerging, extending their lifespan and reducing space debris. Companies like Astroscale and Northrop Grumman are developing docking missions to refuel or push broken satellites out of orbit.
The European Space Agency estimates that there are more than 36,000 objects larger than 10 centimeters orbiting Earth, and space debris removal missions are becoming an emerging market.
International cooperation on a tightrope
Space exploration has always been a stage for cooperation, as demonstrated by the International Space Station. But in recent years, competition between the United States and China has intensified, with missions to the Moon and Mars seeking to establish permanent presence. The signing of the Artemis Accords, led by the US, aims to create a framework for lunar mining collaboration, but China and Russia have not joined.
This geopolitical divide could duplicate efforts and costs, but it also opens opportunities for medium-sized countries and private companies acting as intermediaries. The space industry is no longer just for superpowers: more nations, from the United Arab Emirates to India, are launching their own missions with proprietary or collaborative technologies.
Artemis Accords
The Artemis Accords are a set of principles for space exploration and resource use, led by the US and signed by more than 30 countries. They aim to ensure transparency, interoperability, and protection of space heritage, but their lack of global consensus generates tensions.
What does this mean for the world?
The space industry is not a luxury: it is an extension of the global economy. Satellites already control communications, navigation, and Earth observation, essential for agriculture, disaster management, and climate change. If microgravity manufacturing becomes viable, we could see a new industrial revolution, but also greater gaps between countries that access that space and those that do not.
The question is whether humanity can manage this growth sustainably and equitably. Space debris, militarization, and resource exploitation without clear rules are real risks. But so are the benefits: science advances, technology becomes cheaper, and human curiosity continues to look to the stars. In 2026, space is no longer a destination, but a territory in dispute.