![]() ![]() Already, the Space Foundation (a non-profit space advocate) values the New Space economy at a record US $469 billion, with most spending coming from the commercial sector.Īs Thomas Zelibor, CEO of the Space Foundation, said: “There is no better time to be part of the global space ecosystem.” What is the New Space ecosystem?Įntrepreneurs like Elon Musk, Jeff Bezos and Richard Branson have certainly played their part in driving the development of New Space. It estimates that the global space industry could be worth over US $1 trillion by 2040. ![]() Global investment bank Morgan Stanley has a team dedicated to the matter of new space, such is the level of investment streaming into the sector. These private companies are commercializing space – taking what was once a largely state-owned industry and turning it into a thriving and fast-growing market defined as “the era of access and opportunity.” The New Space boom refers to the latest rush of businesses coming together to create a brand new global space economy. Companies from Space X and Blue Origin to Interstellar Lab are paving the way for a new era of space travel, aptly named “New Space.” ![]() The journey to this historic moment was, of course, a culmination of many years of groundbreaking R&D in NASA’s Apollo program, backed by huge government investment.įast forward to today and space is being conquered by a new group of people and organizations – visionary, risk-taking entrepreneurs pumping their own money into satellites, deep space exploration, lunar landings, asteroid mining and space tourism. The Apollo 11 moon landing proved that science and human ingenuity really could achieve what was once thought impossible. When Neil Armstrong and Buzz Aldrin became the first humans to set foot on the moon, they not only won the space race, but they also opened the door to a new era of space exploration. ![]()
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