UFO - 3 Ways to Invest in the Space Economy In 2020
Thanks to interest from a number of eccentric billionaires -- namely, Tesla (NASDAQ: TSLA) and SpaceX's Elon Musk, Amazon's (NASDAQ: AMZN), and Virgin Group founder Sir Richard Branson -- the nascent commercial space industry has received quite a bit of media buzz. From satellite-based high-speed internet to mainstream space travel to a native colony inhabiting Mars, the ambitions are nothing short of visionary, albeit very long-term.
For all of the attention, though, investing in the final frontier is a tricky proposition. Though expectations are that current global spending of about $360 billion will increase some 5% or so a year for the foreseeable future, large swaths of the industry are tied up with government contractors like Boeing (NYSE: BA) and Northrop Grumman (NYSE: NOC), or inaccessible to average investors via private space start-ups.
One quick and easy way to get started would be using the Procure Space ETF (NYSEMKT: UFO), just launched in the spring of 2019. If the small and untested fund isn't going to cut it for you, though, here are three ideas for investing in space in 2020.