Commercialisation of Space

~Htoo Myat Noe (Director of Research) & Sarah Jemaa

Abstract

In the 1970s, research commissioned by NASA predicted the rise of a space-based economy that would supply the demands of humans living in space that could eventually dwarf the entire terrestrial economy. Today, we can definitely say that this dream is getting closer to reality due to private company efforts: SpaceX’s recent achievements (in cooperation with NASA), as well as upcoming efforts by Boeing, Blue Origin, and Virgin Galactic to put people in space sustainably, mark the opening of a new chapter of spaceflight led by private firms. These firms have both the intention and capability to bring private citizens to space as passengers, tourists, and — eventually — settlers, which brings the human race back to a time where space race was between countries but now is between big firms or even individual billionaires like Elon Musk or Jeff Bezos who have made their visions clear on multiple occasions. Commercial space is a rather vague term, with many sub branches under it such as the commercial satellite industry, space exploration, space tourism & travel, launch, and transportation, so let us take a look at what commercial space is all about!

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