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Actually launch industry is minuscule compared to satellites ($5.5B for launch industry vs $13B only for satellite manufacturing)

Edit: and then of course there is the satellites services which the report estimates in hundreds of billions $.

[1] https://www.sia.org/wp-content/uploads/2017/07/SIA-SSIR-2017...

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42% is minuscule? They have reasonably comparable market caps considering the amount of time the industries have existed. The commercial launch industry really is in it's first/second decade (arguable depending on what you define as commercial, this field is radically changing), and you can trace satellite commercial use back decades to the 70's with GPS and telecom (the first satellite tv use was in 1978 for reference).

Of course satellite manufacturing is only a small part of the satellite industry. I updated comment to reflect that.

Even by their original figures, wouldn't it be 30%? 5.5B/(5.5B + 13B)?

The point is, to some people "miniscule" implies different orders of magnitude.

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