Move over, skyscrapers – spaceports and satellite factories are where the action is now. The space economy, once the stuff of sci-fi, is rapidly becoming a reality, with projections hitting a staggering US$1.8 trillion by 2035. This meteoric rise is opening up a constellation of new construction opportunities on Earth, and it is about more than just launching rockets into space.
Companies like SpaceX, Amazon, and Jacobs are leading the charge with space missions transitioning from government-led ventures to private sector-driven enterprises. But here’s where it gets interesting: to get those satellites and space tourists off the ground, we’re seeing a surge in demand for launchpads, spaceports, and advanced manufacturing facilities. And the kicker? You do not have to be in Texas or Florida to get in on the action – remote Scottish peninsulas are also getting a slice of the spaceport pie.
Take Jacobs, NASA’s largest service provider, which is building a launchpad in the far north of Scotland. This spaceport is expected to send 12 rockets into orbit annually, part of a global trend of countries and private companies scrambling to establish new launch facilities. Even locations like Australia and the UK are getting in on the spaceport game, turning once-remote landscapes into high-tech launchpads for satellite and scientific missions.
For construction firms, the opportunities are as vast as the space itself. There’s no shortage of work, from designing and engineering launchpads to constructing mega factories where satellites are mass-produced. And with satellite launch costs plummeting by 95% since the Apollo days, this is not just a short-term boom. As small, cost-effective satellites flood the market, the demand for construction expertise – both on Earth and in space –continues to soar.
Stay tuned for Part 2, where we’ll explore the next frontier: spaceports, satellite mega factories, and how construction firms adapt to this brave new world.
