報告：截至6月止一年，太空投資增逾一倍至230億美元

阿卡什・斯里拉姆報導By Akash Sriram

9月23日（路透社）——英國投資公司Seraphim與Relm Insurance週三表示，截至6月的一年內，全球太空公司的私人投資增加逾一倍，達230億美元；這個產業正轉向已有驗證基礎的企業。Sept 23 (Reuters) - Private investment in space companies globally more than doubled to $23 billion in the year through June as the sector shifts toward proven businesses, according to British investment firm Seraphim and Relm Insurance on Wednesday.

SpaceX 6月首次公開發行（IPO）已重塑這個產業的募資格局，在創投公司尋找下一家能帶來類似回報的太空公司之際，吸引新投資人進場。SpaceX's June IPO has reshaped the funding landscape for the sector, drawing in new investors as venture firms look for the next space company capable of a similar payoff.

Relm Insurance指出，隨著太空經濟從「炒作走向商業現實」，投資人正把資金導向能展現營運實績、而不只是早期願景的公司。Investors are funneling capital toward companies that can show operational proof rather than early-stage promise, with the space economy moving from "hype to commercial reality", according to Relm Insurance.

該公司表示，吸引資金的企業包括地球觀測（EO）、軌道製造與衛星供應鏈公司。It said the companies attracting capital include Earth observation (EO), in-orbit manufacturing and satellite supply chains.

Relm產品開發副總裁安德魯・邦威克（Andrew Bonwick）表示：「地球觀測已是一個成熟類別——技術已相當成熟，儘管仍在進步。」"EO is already an established category — the tech is well established, if still improving," said Andrew Bonwick, Relm's VP of Product Development.

「真正的價值在於分析。購買這些服務的客戶並不把它們視為太空服務——打動他們的是他們真正想要的資訊：我的船在哪裡、我何時該播種作物、那座煉油廠是否已啟動、哪裡有野火風險。」"The real value is in the analytics. Customers buying these services don't think of them as space services — they're sold on what they actually want: where are my ships, when should I plant my crops, is that refinery switched on, where's at risk of wildfire."

報告指出，對地球觀測公司的資金投入變得更有選擇性，偏向已有明確營收與具經驗領導團隊的企業。Capital grew more selective toward Earth observation companies with visible revenue and experienced leadership, the report said.

軌道製造仍處於早期階段，受限於發射及將產品帶回地球的途徑有限；部分公司正在合併，另一些公司則難以超越小型試點專案而擴大規模。In-orbit manufacturing is still in its early days, held back by limited ways to launch and bring products back to Earth, with some companies merging while others struggle to grow beyond small pilot projects.

隨著產量增加，衛星供應鏈變得更加複雜，促使企業將更多製造作業納入內部，以控制成本並降低對外部供應商的依賴。Satellite supply chains have grown more complicated as production increases, pushing companies to bring more of their manufacturing in-house to control costs and reduce reliance on outside suppliers.

報告指出，傳統保單往往不適用於這些規模較小、具實驗性的太空專案，因而催生對新型保障的需求。Traditional insurance policies often don't fit these smaller, experimental space projects, creating demand for new types of coverage, the report said.

（阿卡什・斯里拉姆班加羅爾報導；迪維卡・夏姆納特編輯）(Reporting by Akash Sriram in Bengaluru; Editing by Devika Syamnath)