President Donald Trump’s proposed new Space Force could create a $1 trillion economy, according to a note to clients sent on June 22 by Morgan Stanley.
Already, Morgan Stanley has identified 20 stocks for the new space economy and is monitoring another 100 private companies. Among these companies are Lockheed Martin and Boeing, as well as tech companies like Google and Facebook.
“Our conversations with various actors (current and retired) in the U.S. government, military, and intelligence communities overwhelmingly indicate that space is an area where we will see significant development,” the memo says, according to Business Insider, which was from a team of analysts led by Adam Jonas, the bank’s autos analyst.
“This development could enhance U.S. technological leadership and address vulnerabilities in surveillance, mission deployment, cyber, and AI.”
Trump directed the Department of Defense to create the new Space Force through executive action on June 18. It will be a sixth branch of the U.S. armed forces.
During the signing, Trump said, “The essence of the American character is to explore new horizons and to tame new frontiers. But our destiny beyond the Earth is not just a matter of national identity, but also a matter of national security.
“When it comes to defending America, it’s not enough to merely have an American presence in space. We must have American dominance in space,” he said.
Air Force leaders sent a message to airmen on June 19 confirming plans to create the new Space Force, which said, “We look forward to working with Department of Defense leaders, Congress, and our national security partners to move forward on this planning effort.”