Global Space Revenue Tops US$251 Billion

A.C. Charania, President of SpaceWorks Commercial, will speak at the Global Space Technology Forum in Abu Dhabi from 16-18 November

Global space revenue from government and private activities reached more than US$251 billion in 2007, representing an increase of 11 per cent from 2006, according to the Space Report 2008.

Produced by the US-based Space Foundation, the report states that total revenue for space products and services is estimated at US$138.83 billion for 2007, an increase of approximately 20 per cent over 2006.

Robust space industry growth was achieved through two commercial satellite services, Direct to Home (DTH) television and Global Positioning System (GPS) equipment and chipsets, with DTH services growing by nearly 19 per cent and sales of GPS equipment by 20 per cent in 2007, together contributing close to US$20 billion to the global economy.

The global space industry is experiencing phenomenal growth as advancements in space technology continue to create new commercial markets and exciting opportunities within the space industry, and for investors and entrepreneurs in non-space related fields.

Taking place from 16-18 November at the Abu Dhabi National Exhibition Centre, the Global Space Technology Forum will draw a high calibre of international space experts to discuss the latest space technology, and how individuals and private companies throughout the Middle East can benefit from this emerging commercial sector.

Organised by Streamline Marketing Group and sponsored by Arianespace, a commercial launch services leader, the forum includes a three day conference featuring industry leaders who will address a wide range of topics including forecasts for the global space industry, research and development, and the role of space technology in national defence and security.

An extensive overview of emerging commercial markets and the vision for the space sector in the UAE and throughout the Middle East region will be outlined on the third day by renowned space industry experts such as A.C. Charania, President of SpaceWorks Commercial, a division of SpaceWorks Engineering, Inc (SEI) in the USA.

"Many opportunities are available to those willing to accept a vision of the world more interconnected through space, bringing improvements to life through new information services. These include investments in satellite development and ownership, acquisition of niche space product developers, space software application development, and the creation of commercial spaceports," said Charania.

According to Charania, key commercial markets include remote sensing and imagery, telecommunications, GPS and broadcast services, all of which will have far reaching benefits for consumers throughout the world.

"Broadcast and GPS should continue to have the highest growth rates, with the end-user across multiple countries benefiting in terms of speed, quality and price," Charania continued.

Nick Webb, Director of Streamline Marketing Group said, "The global space industry is experiencing huge growth and this is expected to continue throughout the next decade and beyond. The Global Space Technology Forum in November will allow anyone with an interest in existing and future commercial markets to meet with internationally renowned space experts to hear first-hand about the latest innovations and investment opportunities."

Organised by Streamline Marketing Group, the Global Space Technology Forum is sponsored by Arianespace and has the support of key international organisations including UAE Space Reconnaissance Centre, The Emirates Institution for Advanced Science and Technology (EIAST), Farnborough Aerospace Consortium UK, The International Society for Photogrammertry and Remote Sensing, The International Space University, Aviation Business and Space Careers.

For more information about the Global Space Technology Forum www.smg-conferences.com  

- Danielle Fanning, Total Communications Dubai - also photo