Funding in the space industry is expected to increase this year due to the increasing tension between the US and China. According to reports from investment firmru Space startup in this sector, it recorded an investment of US$8.6 billion (Rp140.5 trillion) in 2024.
China has stepped up its efforts to compete with Western countries in sectors such as satellite production and rocket launches to meet the growing need for space-based imaging, intelligence, and data.
"This will most likely continue to encourage investment towards space industry sectors that require large capital in the coming year," Lucas Bishop, Associate Investasi intensive Space, said.
Important agreements in the fourth quarter of 2024 included the acquisition of 20% of shares of satellite operator Globalstar by Apple worth $1.5 billion and the sale of SpaceX's $1.25 billion secondary shares, which increased the company's valuation to 350 billion from the previous $210 billion.
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Space sector funding is likely to receive a boost from SpaceX CEO Elon Musk's influence on Donald Trump's upcoming administration as well as billionaire entrepreneur and private astronaut Jared Isaacman appointed to lead NASA. If confirmed, the founder and CEO of Shift4 Payments will oversee NASA's $ 25 billion budget (IDR 408.5 trillion) and future missions.
"The reallocation of funding to private sector solutions that are more cost-effective can further increase investment in companies that offer other space technology," added Bishop, quoted by VOI from Reuters.
The competition between China and the United States is likely to intensify after Trump took office next week, backed by the expanded Department of Defense's Commercial Space Program funding.
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