A new space race means plenty of enticing prospects for investors, says Mark Boggett, chief executive officer and co-founder of investment firm Seraphim.
Speaking to MoneyWeek’s contributing editorCris Sholto Heaton on the MoneyWeek Talkspodcast, which you can also watch on YouTube, Boggett explained how space used to be the preserve of only the very richest countries, but this is changing.
SpaceX (NASDAQ:SPCX) has been one of the biggest catalysts in bringing the costs of launching satellites into space down substantially over recent years.
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“It’s now possible for every country to participate in space, because you can build satellite constellations now for low-millions of dollars,” said Boggett. “As a consequence, this has led to another space race.”
Countries are no longer prepared to sit out the space opportunity, he added, but are instead rapidly building up their own sovereign capability when it comes to accessing space.
Like space itself, the opportunities for investors are vast and varied. Some sound like concepts straight out of a science fiction film.
Boggett highlights companies developing the technology for nuclear power, cell towers, artificial intelligence (AI) data centres and even solar farms that can operate in space.
“One of the reasons I came into space investment in the first place is around solar farms in space,” Boggett said.
“We’re still having wars about oil…that seems very last century. To protect our planet and for the climate consideration of the future, we have to find alternatives.”
“There really isn’t a sector that’s not going to be impacted by this”
This new space race is having a far-reaching impact.
“The way we think about space is not as a sector at all, in the same way people don’t think of AI as a sector,” said Boggett.
“AI is facilitating capability that’s impacting every theme and every industry you can think of – space is exactly the same.
“It’s…driving mega themes like defence, like climate and sustainability, like smart cities, food security and then every industry that sits below that: retail, oil and gas, mining, logistics.
“There really isn’t a sector that’s not going to be impacted by this.”
How space has come into focus during the Ukraine war
Space’s impact on the defence sector has been felt acutely during the ongoing Ukraine-Russia war.
Ukraine has used SpaceX’s satellite internet network Starlink to provide off-grid internet access, allowing for battlefield communications, and has leant on aerospace and data company ICEYE’s microsatellite system to scan territories from above and see if soldiers or ships are being moved along key battlelines.
“We’re really at the tip of the iceberg of defence and how space is leveraging its capabilities,” Boggett said.
MoneyWeek Talks is a podcast that helps you unlock the secrets to financial success. Editors Kalpana Fitzpatrick, Andrew Van Sickle and Cris Sholto Heaton are joined by influential guests – from CEOs and entrepreneurs to economists and fund managers – to share their top tips on managing money, investing wisely and building wealth.
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