Note: This is a crossposted piece of content for blurt.world that I created on 9/28/20. I own and have created this content, see details below.
If you have spent anytime reading my blog, you know I am a big believer in the space industry for many reasons. My primary interest is economic, and I believe that the COVID-19 lockdown is a major economic hurdle that can be helped in part by an investment into the space industry. As lockdowns grind the world's economies, a look to the space industry could help us recover on a world scale.
According to a study by Bank of America, the space industry could have a marketcap of $1.4 trillion by 2030. In a decade, the commerical space sector could become a major employer of Americans, and this could spark competitive growth worldwide. According to the Department of Labor, there are between 18-30 million unemployed Americans today. In order to return to our thriving economic conditions, we need industries to produce products and services with massive profitability and potential. Why not the space industry?
As millions of Americans are out of work due to the COVID-19 lockdown, we need as many jobs as we can get. The space industry encompasses mining operations, commerical satellite operations and even space tourism. Private companies including SpaceX and Blue Origin are hard at work creating efficient spaceships and processes to make space travel of all kinds more commonplace.
Spacex is working on a lynchpin project that will make the commerical space industry even more attractive. The major Spacex project is a reusable rocket. Currently, space travel and business is expensive because a single-use rocket is incredibly expensive and wasteful. If we solve this problem, and can replicate the solution, we will be one step closer to a massive space industry.
What could a space industrial revolution look like? Massive blue-chip companies including Lockheed Martin, Boeing, Honeywell and others need to start making parts and products here, and expand. We need innovation from Spacex and Blue Origin and government support and stimulus. When this happens, a system will emerge that supports innovation and cooperation. This will spur nations around the globe to join in and compete for contracts. I sincerely hope such a thing happens soon. We have so much to gain in this new space race.
Originally published in my blurt account at the link below:
https://blurt.blog/blurtech/@dominion01/the-space-industry-a-massive-marketcap-and-source-of-a-covid-19-recovery
Also published in my Steemit account at myblurtrides1.
Sources:
Picture from Pixabay.
When someone builds something of value, the innovation will follow at a fast pace.
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Very true.
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