"Space Industry Now Entering Monetization Phase"... Private Sector-Led 'Post New Space' Era Begins in Earnest [2026 Future Enterprise Forum]

Kim Jungyeon and Jeong Euihun Deliver Key Presentations

Reusable Launch Vehicles Drive Down Costs
Expansion of Low Earth Orbit Satellites Reshapes Industry Structure

"The space industry is now transitioning beyond the government-led era of exploration to a private sector-driven industry that generates actual revenue and profit."

Kim Jungyeon, Partner at PwC Consulting, and Jeong Jihun, Senior Researcher at Eugene Investment & Securities' Aerospace Research Center, made this assessment at the 'Asia Future Enterprise Forum 2026' held at Lotte Hotel in Sogong-dong, Seoul on May 13. Both presenters analyzed that the rapid decline in launch costs due to the proliferation of reusable launch vehicles, along with the expansion of low-Earth orbit satellites, is fundamentally transforming the structure of the space industry.

During a presentation titled "Post New Space: Space Becomes an Industry," Kim emphasized, "The most significant recent change in the space industry is its transition from a stage of technological validation to an industry capable of generating real revenue and profit."

In particular, he identified SpaceX's reusable launch vehicle technology as the key turning point for this industry transformation. In the past, sending 1 kilogram into space cost tens of thousands of dollars, but with the introduction of reusable rockets, launch costs have fallen to about one-twentieth of previous levels. He added, "Space is no longer an industry limited to governments and the military; it is now an industry where insurers, agricultural companies, logistics providers, and telecommunications firms all become customers."

Jeong also assessed reusable rocket technology as the inflection point for global space industry growth. He explained, "In the space industry, rockets serve as the core transportation means for space infrastructure," and added, "As launch costs decrease, the growth rate of the satellite manufacturing and service markets is accelerating."

Both presenters also agreed that the core of the space industry is shifting from launch vehicle and satellite manufacturing-focused upstream segments to data and service-driven downstream segments. Kim pointed out, "New business opportunities are emerging in the fields of data analytics and software-as-a-service (SaaS)," citing Planet Labs, which has built a subscription-based service leveraging satellite data, as a key example.

Jeong commented, "The satellite services market is still in its early stages," and noted, "Along with declining launch costs, the potential for building space-based data centers and AI infrastructure is also rapidly expanding." He further predicted, "The SpaceX initial public offering (IPO) scheduled for the second half of this year is highly likely to trigger an expansion of investment across the entire space industry."