The pioneering space age, or ‘New Space’, is growing faster than ever, providing chances for businesses to develop their ideas and accelerate return on investment.
Long-promised has been a daring new age of space development, led by the commercial sector and a new generation of entrepreneurs, focusing on declining costs, reusable launch vehicles, novel launch techniques, and cutting-edge technologies.
We are now at a real ‘on the precipice’ moment of new space development, with the recent launch of Space Exploration Technologies Falcon rocket and SpaceX becoming the first privately owned company to facilitate a rendezvous with the International Space Station for NASA astronauts, historic milestones in the ongoing emergence of New Space are being hit.
Reaching New Heights
The New Space age is growing and expanding at a rate never seen before.
New Space will soon bring stronger communications networks for everyone as well as space tourism, the pinnacle of adventure travel.
In the long run New Space is expected to lead to the establishment of a long-term, habitable moon base, as well as the potential for resource exploitation, and very likely a scientific colony on Mars, and those are just a few of the potential outcomes.
Additionally, and arguably more importantly, businesses and the commercial sector as a whole will have a huge part to play. Not only does the private sector offers ideas and resources, but it is also considerably more efficient. For instance, NASA would have spent nearly $4 billion on the development of the Falcon launch vehicles; SpaceX only spent about a tenth of that amount.
History in the making
Since the first man-made satellite was launched in 1957, humans have visited the moon, spacecraft have explored the solar system, and space telescopes have found thousands of planets orbiting distant stars.
Looking back, the main funder and contributor for space exploration has been government agencies. Last year, however, history was made when accessing space was made available those others than government agencies for the first time ever using a craft created and controlled by a private company with an eye towards a cost-effective space settlement. This was an inexpressibly important first step towards creating an economy both for and in space.
With private investment soaring over the last decade, it is difficult to emphasise the ramifications for society as a whole, businesses, and legislation.
The Golden Era of New Space
Interest in the space sector is at an all-time high – and is only going to keep growing. We are approaching a new phase analogous to the ‘Golden Era’ of space launches in the 1960s and ’70s, with numerous daring advancements and missions scheduled for 2023.
With Jupiter Icy Moons Explorer launching Europe’s first dedicated robotic mission to Jupiter, SpaceX Starship set to launch the first orbital test flight of the super-heavy Starship spacecraft and the long-awaited dearMoon project setting to take members of the public on a six-day trip around the Moon and back, there is much to be excited about in the year and years ahead when it comes to space exploration. In addition, with the rise of commercial funding to the space sector, it’s likely we’ll see more and more projects cropping up, enabling the human race to gain an even deeper understanding of, and even the opportunity to enjoy, space.
Imagining the Future
Entrepreneurial start-ups are leading the commercialization of New Space, developing anything from landers ready to wander the Moon to businesses that can download data instantly.
Though New Space is still in its infancy, at TriMech Enterprise we realise that it is also a fast-paced growing entity, and our goal is to assist in the creation of a sphere where start-ups can mature their ideas more quickly and venture capitalists supporting those ideas can see a quicker return on their investment.
Our world class industry-solutions are tailored for product innovations, and with this in mind, we want to be right there with you in the race for New Space technologies.
Get in touch today to discuss all things New Space, and find out how we can assist you in your endeavours.