Space: The Final Frontier For Business?
Is reaching for the heavens the next trillion-dollar industry?
It has been nearly half a century since the end of the Space Race, but one of the brightest spots of the disaster known as the year 2020 has been the dramatic progress in the business of the final frontier. Escaping Earth is no longer the realm of large government projects. Technological advancements are launching private interests into orbit at increasingly lower costs.
A handful of private companies and startups are changing the way business views the heavens. Launch costs are plummeting as a myriad of reusable rocket technologies begins to send payloads and crews to orbit at scale helping to reorganize the industry and its potential opportunities in fields such as satellite broadband, high-speed product delivery, and perhaps even human space travel.
Is the commercial space industry the next trillion-dollar business?
2020 Accomplishments
While the Covid pandemic raged down on earth, space technology took a leap forward. Private sector companies led the charge in driving down costs. Likewise, there is a renewed push in the public sector as the US, Japan, China, and Russia increasingly looking to space for both militarily and with commercial interests.
