The European Commission’s Joint Research Centre (JRC), in collaboration with the Swedish Civil Contingencies Agency, the UK Met Office, and with support from the United States' National Oceanic and Atmospheric Administration (NOAA) Space Weather Prediction Centre, conducted a comprehensive study on the potential impacts of space weather on critical infrastructures. The study emphasized the global footprint of extreme space weather events and their capacity to simultaneously affect multiple infrastructure systems, such as power grids, aviation, and satellite-based services.

Prerequisites:

• Identify the SSA, STM and Space Weather products and services to be evaluated

• Determine the evaluation framework and methodology

• Identify and engage with industry experts and other stakeholders to gather insights and validate market assumptions

• Procurement pathway

• Partner support as needed

Cost:

• Ballpark: USD 50k–250k

• Includes: literature review and baseline study, stakeholder consultations, expert advisory, report drafting and validation

Timeframe:

• Overall: 6–12 mo

• Phase: scoping (1–2 mo), consultation (2–4 mo), drafting (2–4 mo), validation (1–2 mo)

Pros:

• Targeted Investment - Fosters investments where clear market potential and profitability are demonstrated, from governments and private companies.

Considerations:

• Varying Potential - Market potential is highly dependent on the assumptions made by organisations

• Complexity - Calculating the overall market requires complex frameworks and logic