1、Q1 20252025SPACE IQSpace Investment QuarterlyQ1A complete view of private market startup activity and investment trends in the space economy from the investors at the forefrontThe Space IQ provides a comprehensive framework for understanding the space economy and emerging opportunities for investors

2、.LEARN MORE IN OUR CONVERSATION WITH THE WORLD ECONOMIC FORUMTraditionally,space has been viewed in terms of physical infrastructurerockets,satellites,and other orbital assets.However,this perspective overlooks the broader impact of space-based technology,which has become a global platform for innov

3、ation.Entrepreneurs and established companies are building on these technologies to create their own unique services and solutions,driving growth across multiple sectors.We believe the history of GPS which has generated trillions of dollars in economic value provides a key framework for understandin

4、g how large ecosystems form around space-based technologies,paving the way for significant innovation and expansion.Our report organizes this into three critical categories,or technology layers:Infrastructure,Distribution,and Applications.Infrastructurelike satellites on orbitacts as the foundation.

5、On top of this,new hardware and software services are developed to distribute and transform data for widespread use.This Distribution then fuels the creation of thousands of commercial Applications,ranging from devices to mobile apps.When we first introduced our GPS-based framework,it was considered

6、 contrarian.Today,it is widely accepted by founders,investors,and established corporations.McKinsey and the World Economic Forum share our perspective,projecting a$1.8 trillion global space economy by 2035,driven by both“backbone”and“reach”use casesthe latter being companies like Uber that rely on s