Speaking at TNW 2019 conference in Amsterdam today, Juha-Matti (Jussi) Liukkonen, Director of Space & New Technologies at Reaktor, said that small-sized satellites can be key for sustainable business by providing connectivity and data to companies.
Liukkonen mentioned three key industries that can benefit through data provided by nanosatellites:
- Shipping spends $100 billion on fuel every year. By getting live data about weather and routes during a ship’s voyage, the industry could save up to 10 percent in fuel.
- The aviation industry could also save on fuel and complete journeys faster by using live data.
- By monitoring large farming lands through satellite and analyzing the spectral composition of the land, farmers can produce 30-60 percent more yield while saving on fertilizers.
“It’s also easier for companies like us to have more than a few small satellites because they cost $1-2 million to build. Plus, companies like SpaceX have made access to space much cheaper. So we can focus on providing sustainable solutions to customers,” he said.
Last November, Reaktor launched Finland’s first commercially built nanosatellite called Hello World. The market for smalle satellites is pretty promising. A report published by Euroconsult last year says that over 7,000 small satellites will be launched in the next 10 years.
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Published May 9, 2019 — 13:15 UTC