The Future of Space as Private companies Commercialize Space

Just the same way Jeff Bezos wanted to renovate the postal service infrastructure by creating Amazon, he wants to change the way business people and entrepreneur do business. He wants to make space a new business hub and although Jeff seems to have a tremendous plan for the future, Elon seems to be doing it already. Elon Musk already started sending goods with brand names such as Adidas to space.

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The Space Journey before Binging Private Companies

NASA and other world space agencies started the journey to space on the basis of war and in doing this, our modern technological civilization was birthed. A lot of our technologies are from developing technologies for space for example because NASA wanted to get telescopes and cameras that could view outer space, it gave rise to the camera in our phones and other technological advances that brought about Silicon Valley’s companies and their tech, in other to detect live support for astronauts in the Mars missions, NASA discovered Omega-3 fatty acid in its natural form which has become part of baby formulas, the base technology for mobile phones came from making researches for war by NASA. NASA before the involvement of Private companies was for research and experiment and was depending on the funds from the government which was never available. Before, the government were the sellers and the customers in the Space journey but with Private companies coming in, they are able to turn a lot of things into commercial use.

What Difference will Private Companies Bring

The Space industry is becoming commercial so private companies can use the space discoveries and works to attract funding from non-governmental and space agencies. With the emergence of private companies into the space industry, a lot of things have changed. Elon Musk has been able to create reusable rockets and space ships, unlike in the past when there were no means to refuel space machines such as satellites and telescopes, they get decommissioned adding them to the debris in space, SpaceX now is working on methods of refueling the equipment and machines from earth as well as looking into mining from asteroids and other planet to get hydrogen which could serve as fuel in space.

In the same likes private companies are already looking at ways to get funds from other people instead of the government. Virgin Galactic opened its new space craft port in Mexico, designed to carry people from earth to outer space. The company already has 600 prepaid customers already who paid $250,000 in other to get a ride to outer space. The first batch will be going in 2022. With this high paid customers, the company can utilize the money to build do other space research in the future. SpaceX is not taking people to the edge of earth’s space but to fly them around the moon for a week which will be launching in 2023. Also SpaceX plans to launch a cargo spacecraft to Mars in 2022 as the earth and mars orbits at the same direction in 2 years (something like a window) and the purpose is to check for water, safety, mining, power, and identify hazards, this projects are being funded by external investors instead of the government thereby providing funds.

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Currently, there are a lot of rocket companies launching rockets to space regularly, so many of them willing to launch their own satellite since it is a very profitable venture. Companies like Rocket Lab has been launching into space for a while now launching small rockets to space to help deliver small goods and reduce cost of launching a big rocket. This company launches rocket monthly within 30 days.

Finally

Unlike the days when NASA and other government owned space agencies were the only ones in the space industry, the industry has changed with private companies coming to commercialize the industry. Also, they have allowed investors to invest into the industry thereby making it very lucrative for the future.

We have a future and Space is part of that future - @gbenga