Bank of America expects the space industry to triple to a $1.4 trillion market within a decade

Bank of America expects the growing space economy will more than triple in size in the next decade, with the firm this week forecasting space will grow to become a $1.4 trillion market.

"While the COVID-19 pandemic has led to delays in some public and private programs ... the outbreak has not appeared detrimental to overall investment. This may largely be due to the fact that most spending in space is business-to-business/government , which generally recovers faster than business-to-consumer spending," Bank of America analyst Ron Epstein wrote in a research note to investors.

Pro This is exactly what people don't get about SpaceX. Sure, lowering lift costs will save a lot of money and that has value. But the real value are the services you can build with lower lift costs. SpaceX has pulled off the equivalent of the transcontinental railroad.

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