A|N Advisory · Notes
An evening on the space economy
Union International Club, Frankfurt — October 2026
Some evenings you can hear an industry growing up. This was one of them.
At a private evening hosted by the Union International Club, we brought three perspectives on the new space economy to one table.
The market view. Rüdiger Schicht (BCG) on why space, why now: an industry quietly crossing from promise to infrastructure.
The analyst’s view. Julie Zhu (MoffettNathanson) on the economics of SpaceX: unsentimental, data-driven, exactly the scrutiny a maturing industry should welcome.
The builder’s view. Christian Schmierer (HyImpulse) on what it takes to build a rocket company in Germany: from technology to commercial launch — the long way, honestly told.
Sven-Olof Koopmann (Pulsar Consulting Group) added stories from inside the industry and co-moderated with Marcus J. Schroeder, who guided the evening with a light hand. Dr. Ingo Mantzke represented the club’s board.
The takeaway: the space economy is entering the phase where frontier technology has to earn institutional trust — from capital markets, regulators, and customers. That conversation has started. Encouragingly, it is happening in Germany too.
A|N Advisory sponsored the evening — with thanks to all speakers and guests for the open exchange.