Japanese and American companies are expanding cooperation in commercial space. SKY Perfect JSAT, a Japanese satellite communications giant, launched its fifth satellite in cooperation with a U.S. company from Cape Canaveral Space Force Station in Florida on Wednesday. Private demand for satellite Internet access is growing rapidly, and the security policies of countries around the world are also driving the expansion of this market.
According to a report released by the US Space Foundation in July, the size of the space-related market will be $546 billion in 2022, an increase of 8% over the previous year, and nearly doubled in the past 10 years. Us financial giant Morgan Stanley predicts the market could surpass $1 trillion by 2040.
The use of satellites, in particular, is growing rapidly. As the number of launches increases, communication services such as Internet access and mobile phones, as well as services providing image and location information, are expanding. Related businesses, from satellite and rocket manufacturing to space insurance, have also boomed. Military positioning of space-related technologies, such as surveillance satellites and response to cyber attacks, is also on the rise.
SKY Perfect JSAT, the largest satellite communication service provider in Asia, has been operating four satellites together with Intelsat, the American telecommunications satellite giant, for about 20 years. The latest launch is a follow-up model of one of the aircraft, which is planned to be used by the U.S. government, telecommunications companies and in-flight Wi-Fi.
In partnership with Axiom Space, a US space company, Mitsui is pushing ahead with research and development using the space station. LeoLabs of the United States, through a subsidiary of Itochu, has undertaken the business of providing space-related data to the Air Self-Defense Force. Innovative Japanese companies such as Astroscale, which recycles space debris, are also gaining international visibility.