Defence spending is rising across most G20 economies as the post-Cold-War order recedes. At the same time, low-earth orbit is being commercialised, for telecommunications, earth observation, navigation, and dual-use platforms. Both themes share the same investment thesis: long-duration government and institutional demand, technology-led suppliers, capital intensity that rewards patient investors.
Listed and private exposure to space technology (satellite infrastructure, launch services, earth observation, in-space services), defence systems (autonomous platforms, sensors, electronic warfare, cybersecurity), and dual-use technologies that serve both civil and defence customers.
Defence budgets in NATO, the Indo-Pacific and Australia (AUKUS, the Defence Strategic Review) are committed to multi-year increases. Space launch costs continue to fall, opening commercial models that weren't viable five years ago. Both create durable demand for the right technology suppliers.
Through listed thematic ETFs on BGW's APL for liquid, diversified exposure to the broader defence-technology universe, and through specialist VC and direct convertible-note positions in space-technology companies sourced through Boston Global Group's network.
Listed thematic exposure offers daily liquidity with thematic volatility. Private space-tech positions are venture-style, long development cycles, capital-intensive, with regulatory and political sensitivity.
Scott will tell you straight. Whether it earns its place, how much would make sense, and how it fits alongside what you already hold.
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