The commercial real estate construction landscape today is an uncertain one. The post-pandemic return to in-person work has slowed, leaving cities with vast, unoccupied office spaces. The retail sector, meanwhile, continues to grapple with a prolonged lack of new construction and even industrial construction — a corner of the industry that was red-hot for several years — is experiencing a reported slowdown as developers contend with high interest rates and dwindling warehouse leasing activity. Though some reports predict a rebound for those willing to take the long view of commercial real estate, the industry should in the meantime look seriously to a new horizon for the next construction boom: space.
Over the last decade, funding for the space economy has grown tremendously, with investors eyeing massive future payouts from projects related to the final frontier. Morgan Stanley has estimated that the global space industry could generate, “…revenue of more than $1 trillion or more in 2040, up from $350 billion…” However, for the commercialization of space to well and truly take flight, the industry will need support from Earth in the form of more — and more modern — infrastructure. Off-planet industry expertise will also be needed to take the next step in engineering and construction in space.
While the space economy’s construction landscape already has seasoned incumbents such as Momentus Space, Astrotech Space Operations and Texas Sterling-Banicki, its rapid expansion and growing demand also offers a prime opportunity for new entrants. As the sector grows and evolves, there’s an opening for newcomers to learn and make an impact, and for industry leaders to expand their footprint. Here are three compelling reasons for the construction industry to focus on space to infinity, and beyond.
Empowering innovation and future-proofing the construction industry
Throughout history, the construction industry has exhibited remarkable…
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