00:06Space 3 con Evelyn Chow di Neuberger
00:16Cosa rende lo spazio un'opportunità di investimento?
00:20Space, un nuovo teatro per innovazione che migliora le nostre vidi sulla Terra.
00:26What once was the domain of governments has now become a commercial enterprise,
00:31with a wave of private investment from companies like SpaceX and Blue Origin
00:35fundamentally transforming the economics of launch.
00:39This results in a US$1.8 trillion opportunity by 2035,
00:44propelled by falling launch costs, rapidly advancing satellite technology,
00:49and an explosion of space-enabled technologies in communications,
00:53Earth observation, and national security.
00:57The investable universe spans sectors ranging from industrials to financials.
01:01Satellite manufacturers, defense primes, semiconductor companies,
01:06precision agriculture manufacturers, and many others are leveraging the space infrastructure.
01:12In fact, over US$120 billion of market capitalization
01:16has been created from space IPOs alone in the last few years,
01:21and the pipeline is accelerating,
01:23with SpaceX itself reportedly targeting an IPO in 2026 at a US$1.5 trillion valuation.
01:32Quali aree della Space Economy sono più interessanti oggi?
01:37Space stocks are achieving lift-off due to the dual engines of defense and direct-to-device communications.
01:44With defense, space is the ultimate high ground,
01:47where communications, surveillance, and threat interception are mission critical.
01:53Defense budgets are skyrocketing in the US, EU, and Asia.
01:57In the US, the 2026 budget request for Space Force is almost US$40 billion,
02:03up from US$15 billion in 2020.
02:07Europe's response has been decisive.
02:09The European Space Agency recently signed an €11 billion deal
02:13for the IRIS Secure Satellite Communications Network.
02:17Meanwhile, direct-to-device satellite communication is transformative,
02:22eliminating the concept of a coverage gap anywhere on Earth.
02:26Companies like AST Space Mobile are enabling standard smartphones
02:30to connect directly to satellites in low Earth orbit without modifications,
02:34resulting in agreements covering nearly 3 billion subscribers globally.
02:38AT&T and Verizon are already rolling out beta services.
02:44Quale ruolo gioca l'Italia nel panorama della Space Economy?
02:49Italy is in the top three contributors to the ESA among EU nations,
02:55investing over €7 billion into the space sector.
02:59In 2025, Italy even passed a national regulatory framework
03:04with the first comprehensive space bill.
03:06There are two Italian champions we particularly like.
03:10Leonardo delivers end-to-end capabilities across satellite manufacturing,
03:16Earth observation, and secure communications.
03:18In a landmark development, Leonardo, Airbus, and Thales signed an MOU
03:23to merge their space operations, which would create Europe's leading space technology company.
03:30Avio is Italy's indigenous launch provider and the industrial backbone behind the Vega-C rocket.
03:37Having assumed full management of Vega-C in 2026,
03:41with over 15 flights already booked through to 2030,
03:45Avio represents Italy's sovereign launch capability
03:48and is already developing next-generation propulsion for the Vega-Next rocket in the 2030s.
04:02Space 3, with Evelyn Chow from Newberg.
04:07Space 4, with Evelyn Chow from Blue Cards.
04:11We will see.
04:13We will see.
04:14How is the future?
04:14We will see.
04:15We will see.
04:15Grazie.
Commenti