From launches to infrastructure for space companies: Why SpaceTech matters now
Space is no longer just about rockets and exploration. As satellite networks scale and the global space economy expands, the real innovation is happening in the systems that make space useful on Earth. This series explores how SpaceTech is evolving into critical infrastructure, from trusted hardware and regulation to the institutions, capital and companies shaping the next phase of the industry.
Satellites now underpin how phones connect in areas without towers, how farmers manage climate risk, how insurers price assets, and how governments manage and respond to disasters. The industry’s focus has shifted from access to orbit to delivering value on Earth.
How space companies are operating in the global space economy
This shift is visible in the global space economy, which reached US$613 billion in 2024, up 7.8% year-on-year. ¹ Over the same period, operational satellites more than doubled, from roughly 3,300 at the end of 2020 to over 6,700 by 2022. Much of this growth is driven by Low Earth Orbit (LEO) broadband constellations, ² mass-produced satellite networks delivering fast, low-latency connectivity as an alternative to traditional geostationary (GEO) satellites. LEOs serve remote areas, mobile users and industries requiring high-capacity connectivity.
Space companies in South Africa: Remaining relevant
We spoke to CubeSpace CEO Mike-Alec Kearney to understand what it takes for a country like South Africa to remain relevant in space as the industry matures. CubeSpace, a Stellenbosch-based aerospace company, developed a modular, cost-effective control system capable of controlling satellites of any size, helping researchers, private companies, and governments build satellites faster and more efficiently with smaller teams and at lower cost.
“In the early nanosatellite market, manufacturing volumes increased rapidly before a mature supply chain had formed.
Across numerous missions, CubeSpace gained insight into recurring pain points, common in-orbit challenges and operational constraints. These insights enabled rapid product maturation based on real mission experience rather than theory.
Strong customer partnerships were central to this process, providing the environment for testing, validation, and product refinement. Through hands-on integration and commissioning support, CubeSpace reduced the perceived risk of adopting new product iterations and built long-term customer trust.”
As the space sector shifted toward commercial models and constellation-based services, supplier requirements changed. Success now depends on delivering reliable hardware repeatedly, at volume, and within tight cost and schedule constraints, something many bespoke, low-volume suppliers struggle to achieve.
Global space companies in context: New Space grows up
The space industry was once dominated by government-funded programmes. In contrast, “New Space” refers to the rise of startups and private-sector participation. For much of the past decade, New Space was defined by ambition and experimentation. That phase is ending.
Today, the sector is entering an era of industrialisation and execution-driven innovation, where reliability matters more than novelty.
Small satellites (SmallSats) have become the dominant unit of deployment. In 2024, roughly 2,800 SmallSats were launched, representing 97% of all spacecraft and 81% of total launch mass. ³ Launched in constellations rather than as single missions, SmallSats allow shorter design-to-deployment cycles and long-term operations and data.
Space companies become systems-driven
Our Knife Fund III investment into Simera Sense is giving us a front-row seat at understanding how space companies are reshaping the industry. The real race isn’t just about spacecraft anymore. It’s about everything that comes next. Companies are now pushing innovation into the less glamorous areas: ground stations, automation software, cybersecurity, analytics, and data crunching. Success depends on running systems smoothly and securely. ⁴
In the end, the companies that make an impact won’t be the ones that pull off a single miracle. They’ll be the ones that can reliably build, deploy and operate systems repeatedly and at scale.
Ready to learn more about SpaceTech and how industry changes are fast-tracking innovation? Look out for Part 2 of our SpaceTech series: From orbit to outcomes: The most important SpaceTech innovations.
Sources and references
- Space Foundation. The Space Report 2025 Q2 highlights record $613 billion global space economy in 2024.
https://www.spacefoundation.org/2025/07/22/the-space-report-2025-q2/ - OECD. The Space Economy in Figures: 2023/2024 edition.
https://www.oecd.org/content/dam/oecd/en/publications/reports/2023/12/the-space-economy-in-figures_4c52ae39/fa5494aa-en.pdf - BryceTech. Smallsats by the Numbers 2025.
https://brycetech.com/reports/report-documents/smallsats-2025/ - Via Satellite. 10 defining moments in cybersecurity and space in 2025.
https://interactive.satellitetoday.com/via/january-february-2026/10-defining-moments-in-space-and-cybersecurity-in-2025/