Across all regions, a plethora of “New Space” companies are bringing about innovative and affordable solutions to access space
The increased privatization of space activities has brought about a new generation of space companies. The most successful of these private companies have come about as a result of consistent cooperation with, and support from government agencies.
The New Space industry to now has attracted several billion USD worth of investment, with this amount expected to rise in the coming years with more support from government entities and the private sector. The plethora of technological changes that have occurred on earth over the past decades-miniaturization of components, cheaper processing power, etc.-will increasingly make their way into space, enabling new applications and new business models to emerge.
The global space industry today is worth 250 billion USD. The US, Russia, and a few European countries are the biggest stakeholders of this billion-dollar industry. Historically, investments into space have been highly scrutinized due to the inherent risk involved in such a cutting-edge industry. With advancement in a variety of technologies, the New Space industry and its associated companies promise to bring down the cost of access to space, allowing for lower-risk, faster-moving business models that will allow for iterative improvements and ultimately, a more prosperous space economy for all.
Regional New Space Landscape
The American New Space model is the most successful example of strong cooperation between the government and private sector. Over the past two decades, the US government has provided strong support to startup space companies, with the most notable being SpaceX, in the form of several NASA launches awarded to the company. Even after numerous SpaceX failures, the American government helped the company to spread its wings for New Space opportunities. This kind of cooperation between public and private sector will continue to help the development of New Space companies. Silicon Valley has been a primary source for triggering the New Space activities. Well-known venture capital firms like Sequoia, Khosla Ventures, and RRE Ventures have invested in…