Equity Insights
To infinity and beyond – the economics of space
With Stephan Kemper, Chief Investment Officer BNP Paribas Wealth Management
& Private Banking Germany
Key Messages
1 From geopolitics to economics: The space was long perceived as a domain of governments due to prohibitively high costs
2 Small creates big opportunities: Mastering propulsive landing and miniaturizations of tech hardware have been the bedrock of commercial space exploration
3 Some remains science-fiction, some creates real opportunities: The space industry is fundamentally a story of physical barriers yielding to industrial discipline and deflationary logistics. For investors willing to look past short-term volatility, the commercialization of orbit is representing an interesting long-term opportunity though.