What do patents tell us about the future of space tech?

What is the future of the space economy?

The sector has transitioned over time from a focus on space exploration towards space as an economic field of activity.

There is more to come. It is expected to rival the size and reach of the semiconductor industry within the next decade, according to recent World Economic Forum research.

But what innovations will enable that reach?

Patents are an early indicator of future technological advancements, as they often reveal emerging innovations before they reach the market.

The European Patent Office ran a webinar on Space technology innovation, to mark the launch of their space innovation platform and report.

Highlights include:

🚀 The opportunities of the sector has encouraged firms to invest in it, even though they do not brand themselves as space companies, such as companies in the automotive sector. Others are looking to see how it could help them reach their sustainability goals.

🚀 Understanding patent activity can be organised into cosmonautics' (i.e. propulsion) and 'space observation' (i.e. telescopes).

Propulsion is essentially the launch sector, which includes access to space but also the emerging space logistics and on-orbit servicing, assembly and manufacturing for the low Earth orbit (LEO) economy, and renewed exploration ambitions for the moon and beyond. 

The space propulsion market segment is estimated at ~EUR 9.2bn in 2022 and is projected to at least double in value by the end of the decade.

🚀 China’s prominence is very pronounced, accounting for ~38% of all propulsion patents filed in the last decade and taking the EU's spot in second place after the US in terms of total patenting activity.

The top two players overall are the Harbin Institute of Technology and the Beihang University, both in China.

They are followed by Airbus, Safran, and Boeing. 

There is also a rapid increase in the number of patents filed by China applicants being cited, an indicator of the quality and impact of the underlying invention. 

India is also highlighted as an emerging power.