Who Cares About Space Travel?
Within 30 years, Morgan Stanley predicts the space industry will be worth $1.1 trillion. Bank of America believes it will be almost $3 trillion by then. Regardless, the verdict is clear: we
Who Cares About Space Travel?
Within 30 years, Morgan Stanley predicts the space industry will be worth $1.1 trillion. Bank of America believes it will be almost $3 trillion by then. Regardless, the verdict is clear: we are entering a new commercial space age.
As can be seen in figure 1, the space economy already plays an integral role in the global economy, at $339.1 billion in 2016 and $385 billion in 2017. Satellites are an essential factor in the growth of the space industry through the various services they provide: ranging from near Earth imagery, to telecommunications, to science research. However, it is rockets, and specifically the launch industry, that play a fundamental role in allowing satellites to fulfill their missions by reaching their desired orbits.
Without innovation in the launch industry, the exciting developments happening within the satellite industry will not be realized. For example, space startups around the world are aiming to provide futuristic services such as real-time live streaming of the Earth straight to your phone (EarthNow LLC), 3D printing of entire constellations of satellites in space (Made In Space, Inc.), and even testing of pharmaceutical products in microgravity to understand their effects in otherworldly environments (Space Tango, Inc., Space Pharma). A thorough-breakdown of satellites by function can be found in figure 2. Fortunately, exponentially-minded startups such as SpaceX and Stratolaunch are committed to providing reliable and affordable access into space.
The Future of Rocket Launch
The technology behind rockets has not changed much since the first rocket launch in 1942. Specifically, a rocket is provided with enough fuel to overcome Earth’s gravitational pu