Mining plays a vital role in the economic development of many countries. The emerging economies are now major players in the production and availability of key commodities such as copper (70%), bauxite (40%), iron ore and precious metals. The mining industry is undergoing transformational changes. Satellite technology can help extractive industries to move towards more intelligent mines, improve safety and security across the mining supply chain, and monitor environmental impacts.
It is demand from the traditional and emerging industries on Earth that drives the accelerated commercial development of space-enabled products and services. As the backbone of further digital transformation, the space industry is critical to the future growth of the global economy, from mining and energy, to agriculture and transportation.
The 60-year-old space industry has been transformed in the last decade by improved access to space, emergence of satellite platforms for Lower Earth Orbit, miniaturization of electronics, changing regulatory environment and growing demand for commercial and consumer applications. The global space industry now spans across multiple markets on Earth and beyond, becoming a key positive element in the technological and economic transformation of our society.