Trump Space Force could fuel next trillion-dollar economy: Morgan Stanley

President Trump’s proposal to create a U.S. “Space Force” could provide a major boost to the U.S. economy – and plenty of opportunities for investors.

The proposed standalone military branch focused on addressing potential national security vulnerabilities could help contribute toward the formation of the next trillion-dollar economy, according to a Morgan Stanley research note. The bank says it has already identified space as a “highly relevant investment domain” over the coming years, particularly where technology, national security, capital formation and economic opportunity are concerned.

“Our conversations with various actors (current and retired) in the US government, military, and intelligence communities overwhelmingly indicate that space is an area where we will see significant development,” the note read. “This development could enhance US technological leadership and address vulnerabilities in surveillance, mission deployment, cyber, and [artificial intelligence].”

The Space Force would constitute the sixth branch of the U.S. military.

Morgan Stanley likened investors’ initial lack of interest in the long-term space opportunities to early discussions about autonomous vehicles in 2013 and 2014. However, the bank has identified stocks and private companies to watch, including SpaceX, Blue Origin, Virgin Galactic and Sierra Nevada Corp.

Space is already a $350 billion economy, according to Morgan Stanley.

Earlier this month the president called for the Pentagon to begin working on the creation of a Space Force, to work toward “American dominance” in space.

Last year, Trump also signed a directive to send astronauts back to the moon, in what was seen as a reversal from the policies of the Obama administration after the former president cancelled a proposed program to return humans to the moon by 2020 when it came in over budget.