In the future, a new manufacturing industry is expected to launch in space, and CNBC has produced a report on how this will happen and what we can expect. According to a report by consulting firm McKinsey & Co, the market for space-manufactured products could reach $10 billion by 2030.

Space Factories

The idea behind manufacturing things in space is to allow companies to utilize manufacturing processes that work in a weightless environment and perhaps use different materials than what is possible today. Even now, various manufacturing processes have been experimented with on the International Space Station (ISS).

How Space Factories Are Becoming A Reality

The report also features interviews with American company Varda Space and British company Space Forge, both aiming to leverage space in different ways to manufacture future products. Varda Space, for instance, plans to use their developed technology to create new medications, while Space Forge is aiming to manufacture semiconductors in space.

Edward is a business editor who writes about various topics such as technology, health and finance. He works along with the colourful folks that build a nation through tech startups. He is also a professional...

Leave a comment

Your email address will not be published. Required fields are marked *