The space race is accelerating

FACTA

China has unveiled a plan to become the world's leader in space exploration by 2050. This initiative, led by the Chinese Academy of Sciences, the China National Space Administration, and the China Manned Space Agency, outlines a wide range of space activities, including the exploration of Mars, Jupiter, and Venus, research into black holes, quantum mechanics, and the search for extraterrestrial life and habitable planets. China also plans to expand its space station and place astronauts on the Moon by 2030, where they aim to build a lunar research station. The strategy's goal is to strengthen China's role in space at a time of growing competition with the U.S. and other countries in space research. As part of the new space race, spending on space exploration has increased. In 2023, global government spending on space research reached a record $117 billion, a 15% increase from the previous year. This growth is mainly driven by a rise in defense spending, which totaled nearly $59 billion, surpassing investments in civilian programs for the first time in history. In terms of spending shares, the U.S. is in the lead (over $73 billion), followed by China (around $14 billion).

FUTURA

Over the next decade, several countries plan to land humans on the Moon. The U.S. aims for 2026, China for 2030, South Korea for 2032, and India for 2040. The European Union and the United Arab Emirates also have significant space research programs. Beyond the national and geopolitical dimensions of individual countries' space projects, space should also be seen as a crucial area for future economic development. Estimated revenues from space projects could reach $1 trillion by 2040. Along with the growth of public spending on space research, private investments have also surged significantly—exceeding $12 billion in 2023. In addition to the developing space industries in satellite technology, internet services, space tourism, Earth observation, and remote sensing, space also holds significant future potential for building space infrastructure, mining resources, and employing special manufacturing methods that take advantage of low gravity in space.