Built for Orbit: Introducing Asia Space Economy Basket (GSSZSPCE)

研报英文原文证据摘录

Built for Orbit: Introducing Asia Space Economy Basket (GSSZSPCE)

Portfolio Strategy Research

23 June 2026 | 12:10PM HKT

ASIA STRATEGY BASKET

We see a compelling relative risk/reward in Asia Space Economy stocks, Alvin So, CFA

+852-2978-1585 | alvin.so@gs.com

supported by structural demand, measurable earnings delivery, policy support, Goldman Sachs (Asia) L.L.C.

and under-positioned thematic flows. Timothy Moe, CFA

+65-6889-1199 | timothy.moe@gs.com

Goldman Sachs (Singapore) Pte

The Space Economy is in an active deployment phase. Satellite launches reached

Kinger Lau, CFA4,400+ in 2025 (+65% YoY), with ~70,000 additional satellites targeted over the next +852-2978-1224 | kinger.lau@gs.com

five years. Our Technology equity analysts forecast the LEO satellite market to Goldman Sachs (Asia) L.L.C.

expand 7× to US$108bn by 2035. Sovereign constellation programs are already in Bruce+81(3)4587-9950Kirk, CFA| bruce.kirk@gs.com

funded execution through 2028, providing non-discretionary demand independent Goldman Sachs Japan Co., Ltd.

of end-user adoption. Sunil Koul +44(20)7051-4931 | sunil.koul@gs.com

Goldman Sachs International

Asia’s role in the global supply chain is critical. Asia represents the hardware John Kwon

backbone of the global buildout, spanning satellite buses and payloads, rocket +65-6654-6337 | jongmin.kwon@gs.com

engines, RF/GNSS chips, phased-array antennas, earth observation instruments, and Goldman Sachs (Singapore) Pte

in-orbit servicing. China, Japan, Korea, Taiwan, and India occupy distinct but Amorita Goel, CFA

+65-6654-5445 | amorita.goel@gs.com

complementary positions across the value chain, supported by contracted order Goldman Sachs (Singapore) Pte

books and government-backed programs.

Theme broadening, with AI convergence extending duration.