Credit: SpaceNews Midjourney illustration
While gloomy economic forecasts spell trouble for early-stage space firms in 2023, analysts say the industry as a whole should largely prove resilient to any downturn.
Space businesses are more agile than ever in responding to changing market conditions, and governments worldwide are expected to continue underpinning growth for many of them, even as private funding sources dry up.
However, even those able to weather harsh financial climates will face operational challenges and dampened growth prospects this year.
2022 was marred by economic uncertainty. Soaring inflation, supply chain disruption, energy price hikes, and other headwinds contributed to an unstable and uneven recovery for markets still battling the lingering effects of COVID-19.
And forecasters are painting another year of uncertainty for 2023 as the pandemic and ongoing war in Ukraine cloud the outlook.
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