Forecast: Quantum satellites worth $2.6bn by 2030
September 15, 2021
By Chris Forrester
There are new satellites now emerging from major sat-builders and operators and described as “quantum” craft. They are best-identified as being ultra-flexible in their operation, and embracing high levels of security.
Northern Sky Research (NSR) in its latest report says that the potential to deliver “unlimited” security will itself help drive revenues to $2.6 billion by 2030 and with Banking, Energy as well as government/military clients as the primary target markets for services adoption.
“Representing a potential all-encompassing solution for security applications, substantial quantum foundations are developing.” States NSR report co-author Arthur Van Eeckhout. “Quantum communications via satellite is moving faster than predicted”.
“The segment is surpassing expectations, with global investments of $20 billion in quantum related technologies. Leveraging optical/laser terminals advancement towards its own growth, increased Optical adoption positions QCvS (Quantum Communications via Satellite) for take-off. With government support, full commercialisation is expected by decade’s end,” says the study.
“Major space-faring countries are likely to enable commercial organisations fast-tracking technology such as QCvS to improve national security,” notes Report Co-author Hussain Bokhari. “Quantum communications strengthens country sovereignty, from both terrestrial and space domains.”
“In the near term, the pandemic-triggered backlog in demo missions are beginning to clear with bigger players expected to enter the field soon after. As the conversation on data security and Quantum hacking diversifies to more industries, opportunity will increase. Van Eeckhout added, “The stakes are high, those who do not master this technology risk being left exposed. Quantum Communications via Satellite will reward those first to the plate,” states NSR.