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From the moon to the market economy: how space travel has changed

From 1962 to 1972, NASA explored the moon in a total of 17 flights. In July 1969, Neil Armstrong became the first man to walk on the moon and coined the phrase: “One small step for man, one giant leap for mankind.” At the time, space travel was characterized by a pioneering spirit and political ambitions. Today, private companies such as SpaceX are heading into space alongside NASA. Satellite technology in particular offers great potential for communication, earth observation and security.

Where economic potential can be found: applications and growth drivers

The World Economic Forum (WEF) divides the space economy into two segments:

  1. Backbone: This includes satellite service providers, rocket companies, TV transmission and GPS. In 2023, the market volume of this segment amounted to USD 330 billion.
  2. Reach: This segment includes applications enabled by space technology, such as Uber. The market volume amounted to USD 300 billion.

According to a forecast by the WEF and McKinsey & Company, the global space economy could grow to USD 1,800 billion by 2035, which corresponds to an annual growth rate of 9%.

Space economy (volume in billion USD)

Source: World Economic Forum, McKinsey & Company, Space: The USD 1.8 Trillion Opportunity for Global Economic Growth INSIGHT REPORT, APRIL 2024

The drivers of this growth are:

  • demand for satellite-based Internet for e-commerce and online banking
  • increasing mobility and demand for navigation and tracking
  • megatrends such as artificial intelligence and machine learning, which improve the analysis of natural disasters, for example

The space economy benefits from a networked and mobile world that relies on advanced technologies.

How orbital investing works

The dynamic market development and expected growth make the space industry an exciting investment field. However, there are only a few “pure plays” on the stock exchange – companies that are predominantly or exclusively active in the space economy. Many of these companies, such as SpaceX, founded by Elon Musk in 2002, are privately owned.

However, some listed companies have their own divisions or products that benefit from the space boom. Among the largest and best known are Airbus and Boeing, which are heavily involved in the ESA and NASA space programs.

In the following, we present three listed “pure plays”.

Name 

Name 

Country

Country

Revenue 2024 (in Million USD)

Revenue 2024 (in Million USD)

Short profile

Short profile

Name 

Rocket Lab

Country

USA

Revenue 2024 (in Million USD)

436.2

Short profile

Rocket Lab offers transportation (launch service) into space and develops and builds rockets and spacecraft as well as the associated components. The Californian company operates a spaceport in New Zealand, from where up to 120 rocket launches are possible each year.

Name 

Virgin Galactic

Country

USA

Revenue 2024 (in Million USD)

7.0

Short profile

Virgin Galactic offers flights into space. In addition to scientists and public institutions, the target group also includes space tourists. Flight operations have been suspended since mid-2024, and the company is focusing on the development and construction of a new spacecraft. In summer 2026, the “SpaceShip” will transport a payload into space for the first time, with a manned flight planned for the following fall.

Name 

OHB System

Country

DE

Revenue 2024 (in Million USD)

1'066.2

Short profile

OHB has been developing high-tech solutions for the space industry for more than 40 years. One of the core competencies of the North German company is satellite systems for earth observation, navigation, telecommunications, science and reconnaissance. For example, the satellites for the European Copernicus earth observation program are and have been developed and built by OHB.

Diversified fund solutions

Instead of individual investments, investors can also invest in the space economy via diversified funds. The Ark Space Exploration & Innovation ETF has been on the market for over four years and includes companies in orbital and suborbital space exploration, enabling technologies and space technology beneficiaries such as agriculture, the Internet, global navigation systems and imaging.

Tracker certificate with thrust

The Euronext Helios Space Index, which benefits from the expertise of the ESA, comprises European and selected non-European companies from the space economy. A UBS tracker certificate tracks this index without a time limit and has recorded a gain of almost two thirds since its issue in April 2023 (as at: 17 July 2025). Although historical performance is not an indicator of future performance, this product offers an opportunity to invest in the space economy in a diversified manner.

Investing in the space industry

Discover an opportunity to bring the space economy into your portfolio in a diversified, flexible way and with a great deal of expertise!

Vision meets volatility: opportunities and risks for investors

  • Opportunities:

    • Technical progress: the number of space-related applications is growing rapidly and integrating the space economy into more and more areas of life.
    • Falling costs: the transportation of material into orbit is becoming cheaper and cheaper.
    • Private engagement: billionaires such as Elon Musk, Richard Branson and Jeff Bezos are investing heavily in the space economy.
    • Early positioning: investors could benefit from early exposure to this emerging sector.

  • Risks:

    • Risk of setbacks: space travel is constantly breaking new ground, which can lead to setbacks and delays.
    • High capital requirements: space exploration is costly and can be negatively impacted by unfavorable financing conditions.
    • Other factors: there are only a few companies that focus exclusively on space travel; in the case of diversified companies, other business areas can lead to negative share price movements.
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Frequently asked questions

Conclusion:

A good five decades after the first moon landing, people are more drawn to the moon than ever.

Future missions:

  • April 2026: planned orbit of the moon.
  • 2027: planned moon landing by astronauts as part of the “Artemis” mission, which is preparing a trip to Mars.

Significance in daily life:

  • Satellite launches: last year, 224 satellites were put into orbit.
  • Range of applications: these satellites are used for broadband Internet, navigation and earth observation.

Economic development:

  • Public and private stakeholders: in addition to public space agencies, more and more private companies are active in the space economy.
  • Growth market: the space economy is a rapidly growing economic sector that is also very exciting and promising for investors.

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