Analysts are forecasting the global space sector to be worth a staggering $1.4 trillion dollars by the end of this decade. This phenomenal growth is largely attributed to a new privately-fuelled space race dominated by billionaires including Elon Musk, Richard Branson and Amazon owner, Jeff Bezos along with an increasing demand for space-based products and services.
While the approaches and ambitions of these individuals differ significantly, the huge spike in space sector activity is undoubtedly set to benefit Scotland’s economy . The SaxaVord spaceport in Shetland, the first of its kind in the UK, is set to create upwards of 200 jobs and generate around £10m to the economy per year. Meanwhile, the new Sutherland spaceport is forecast to deliver almost £1bn in gross value added (GVA) for Scotland’s economy over the next three decades.
While the advancement in knowledge and economic benefits are all extremely welcome, the rise in space exploration adversely impacts our planet. Academics at the Arctic University of Norway claim that falling space debris pose an environmental risk and may contain harmful chemical substances and radioactive materials. This was initially highlighted in 1978 when the crash of the Soviet nuclear-powered surveillance satellite COSMOS 954 scattered large fragments and radioactive materials over northern Canada.
Fatalities, injuries and property damage were negligible in this incident only because it occurred in such a remote region. The legal f.