Commercial Spaceflight And The Dawning Age of NewSpace

The New Space Race – Alumni | Harvard Business School

This promise of cost savings and efficiency has long been the hallmark of private space companies. And that field is growing: There are now nearly 1,000 space companies worldwide according to industry analyst NewSpace Global, and they are touting revolutionary (and mostly unproven) new concepts in rockets, space tourism, and even space services, ranging from orbital refueling to asteroid mining to space debris cleanup.

This entrepreneurial energy is following a decidedly terrestrial opportunity. The nonprofit advocacy group Space Foundation estimated that the global size of the industry reached $330 billion in 2014, with an annual growth rate of 9 percent. Commercial space activities made up 76 percent of that total.

The final frontier, it turns out, might just be the last great market.

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See on Scoop.itThe NewSpace Daily


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