The US space economy is facing significant cyber security risks, according to a joint statement by US intelligence organisations.

A bulletin issued on 18 August said that foreign intelligence entities may target the growing US space economy with: “cyberattacks, strategic investment (including joint ventures and acquisitions), the targeting of key supply chain nodes and other techniques to gain access to the space industry.”

The statement issued by the National Counterintelligence and Security Center, the Federal Bureau of Investigation and the US Air Force outlined how cyber attacks had the potential to harm US commercial firms and broader US national and
economic security through breaches within US space-related innovation and assets.

The warning highlights how satellite technology is a high risk area for cyber breaches. Cyber attacks focused on “disrupting and degrading US satellite communications, remote sensing and imaging capabilities” place the US economy and national security at risk as both are increasingly reliant on space technology.

According to analyst GlobalData, the global space economy will be worth $1tn by 2040. The research analyst’s 2023 Thematic Intelligence TMT Predictions outlines how rising geopolitical tensions will see the space economy revert to Cold War tactics.

The militarisation of the space economy raises national security concerns among intelligence agency. The US intelligence community’s warning outlined the dangers of foreign intelligence entities collecting sensitive data from satellite payloads which had the potential to affect the US’ ability to provide critical services during national emergencies as well as revealing vulnerabilities for targeting US commercial space infrastructure during international conflicts.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Global Data’s thematic research highlights how governments will use space to express national interests and assert geopolitical dominance. “There will be an escalation in the militarisation of space, with US military satellite market revenues increasing by 41% from 2021 to 2031,” according to the analyst.