Value of the global space sector in 2020
Total funding raised by Spacetech startups in 2020
Global space and defence market CAGR
between 2021 and 2026
(The Business Research Company)
The aerospace and defence sector on the path to reinvent itself
Historically quite a strong market, the aerospace industry is now facing two major crises. Not only do they have to deal with the Covid-19 pandemic, but they also need to introduce new measures to tackle the climate crisis.
On a more ethical level, the defence industry also has its own goal: to identify more accurate solutions to prevent unnecessary collateral damages.
Improving accuracy in the space sector thanks to drones and satellites
A key challenge for the aerospace industry is to implement automated steering capabilities for flying objects, in order to optimise margins. Today, they are mostly passenger-free (drones) but they should soon be used for transportation. Artificial intelligence and trained algorithms bring answers to different flying applications.
Also, satellite data can contribute to tackling environmental issues. This data can prevent natural disasters and give intelligence on global warming as it is collected from large areas across the globe.
Finally, propulsion engineers are actively looking into replacing traditional fuels. Today, they are investigating biofuels, but tomorrow, they hope to develop electric or hydrogen-powered aircrafts. In order to reduce even more industrial resources, manufacturers can re-use old satellites.
In the defence industry, weapon systems are getting more and more accurate. This is thanks to better engineering capabilities and AI-based risk prediction tools. Of course, human intervention remains key for lethal decisions. They are also benefiting from satellite and drone data to bring valuable information on military actions.
Leveraging satellite and drone data for maintenance purposes
The defence industry is mostly funded by governments. This facilitates test launches with disruptive technologies and their deployment on a large scaler for civil engineering. The democratisation of drone use is a perfect example.
Military and space operations require fast decision-making processes. Satellite data and AI are valuable tools for industrial and military players.
In order to explore these break-through innovations, corporates can turn to startups, either to co-develop new solutions or simply ensure an in-depth technology watch. As these industries involve high stakes and confidential information, they demand highly structured collaborations.
In this context, Early Metrics supports the selection of your strategic and innovative partners. For geopolitical reasons, a single corporation will not be able to collaborate with startups from anywhere in the world. Choices might be limited. Early Metrics will take into account your geographical criteria as well as intellectual property requirements in the startup identification process.View our solutions