Space is open for business

First, let's agree that space is for ambitious and adventurous people with bold visions.

Before diving into today's first newsletter, here's a brief highlight of the history of space development. From the 1960s to 2002, space was mostly dominated by governments like the United States, Russia, China, and Europe union.

The same countries, through their government's space institutions, haven't lowered the cost of building rockets and satellites in the last 40 years.

Yeah, that is true, otherwise, you and I would have a conversation in the orbit by now.

There hasn't been significant technological advancement in lowering the cost of building cheaper rockets and satellites.

These components are the fundamental building blocks of the space economy, with the latter serving as the backbone of the space industry.

Without a ROCKET humans would never have had the opportunity to explore the outer universe.

What might have delayed the space boom is traditional thinking and the bureaucratic processes that kept space development at a high cost.

It's discouraging to enter the space industry, especially considering adding regulations to it, we all now how it can setback progress. Due to the high cost, the industry didn't attract many other dreamers at that time.

The development

New space was born and commemorated the race. SpaceX entered the picture and disrupted the space industry as the first private company to build a low-cost rocket.

It represented an engineering leap that people in the aerospace industry had dreamed about for decades

Bold dreamers have joined the race, with SpaceX paved the path to build rockets and satellites at lower costs. Elon Musk's persistence has inspired space junkies and investors to create the next SpaceX.

Governments and large organizations require more frequent rocket launches, sometimes on a weekly basis, to deploy their satellites into space.

Keep an eye out for a race for smaller rockets and satellites.

You would ask what is the benefit of space or building space ecomony?

Building space infrastructure offers several benefits, like improved space exploration, economic growth, technology innovation, resource utilization, global connectivity, Earth observation, national security, research, international collaboration, and commercial opportunities, all impacting life on Earth positively.

These benefits impact various aspects of life on Earth and drive economic growth and technological advancement.

For instance, satellite data imagery for physical activities on earth for commercial use is in-demand and highly informative for decision making, this is the next thing in data analytcis.

There is this crazy idea about setting up factoies and manfucaturing in the orbit. Some chip makers are exploring the idea.

Space business opportunites

The space industry has sparked wide range of business opportunites and expanded the industry. Here are some of the key industries:

1. Space Exploration: This sector focuses on the scientific exploration of space.

2. Internet Satellites for Earth Connectivity and the Internet of Things.

3. Satellite Communication and Broadcasting: This sector deals with the deployment and operation of satellites for communication purposes.

4. Earth Observation and Remote Sensing: Earth observation involves the use of satellites to monitor and gather data about our planet's surface, atmosphere, and environmental changes.

5. Space Manufacturing and Technology: This sector involves the manufacturing and development of space vehicles, spacecraft components, propulsion systems, satellite platforms, sensors, instruments, and other space-related technologies.

6. Space Launch Services: Launch service providers play a crucial role in the space industry.

7. Space Tourism: Space tourism aims to provide commercial opportunities for individuals to experience space travel through orbital or suborbital flights.

Space commercialization is prominent in low Earth orbit (LEO) for several reasons:

• LEO is accessible and cost-effective for commercial ventures.

• It offers shorter communication delays and easy spacecraft retrieval.

• Launching to LEO is less expensive than reaching higher orbits.

• Emerging markets like satellite internet and space tourism are thriving.

• Continuous human presence in the ISS supports research and tourism.

Top countries where companies are racing in the space industry

Here is proof that SpaceX has sparked a race. See how top countries are competing to pioneer various aspects of space Economy.

Space companies are in the making and we are still at the begining the chance to get onboard is there. we are not at mature market so the opportunity is there to start building and ride the wave in the next years to come.

Thanks for reading.

Rock-it, rocket will have a significant impact on the space economy.