Navigating the High Stakes of the Space Business The space industry is changing fast. Decades ago, the only space organizations that...
Navigating the
High Stakes of the Space Business
The space industry is changing fast.
Decades ago, the only space organizations that people knew about were the likes
of NASA and Lockheed Martin. Whereas now, the industry has evolved to make
space for newcomers, privately funded and owned companies that are making a
mark. As an industry begins to evolve, so do the interdependencies within that
industry morph. As of 2025, the key players in the space industry are looking
completely different from twenty years ago, and that means that for your
private business to succeed in this industry, the stakes are high. While there
is margin for success, there is also serious competition, and you have to learn
the ropes better than ever to make it to the top.
The Gap Between Space Market vs. Space
Technology
A key problem that has surfaced in
recent years is that the space industry and market are not evolving as fast as
space technology is. Entrepreneurship in the
expansive space industry is not new, yet it’s still a risky
adventure with odds that aren’t very promising. With the technology that
mankind now has, it is possible not only to make space more inclusive but also
to exploit its resources to make life on Earth more sustainable.
Research in the space industry can
massively improve climate science for mankind. The core issue that prevents the
space industry from growing at a desirable pace is how the demand and supply of
space technology are at odds with each other. While there is a desire to lower
the costs of space travel, it is also entirely dependent on the consumer
market. With enough demand, the industry can thrive and flourish. Still,
without a clear demand for either manufacturing or tourism in space, the
industry does not have much incentive for lowering the growth barriers.
Upgradation of Space-Industry
Architecture
The need for exploration of space is
obvious. The core issue at hand, however, is the current architecture of the
space industry. For the longest time, it was dominated only by
government-funded organizations, and so the themes of the space industry were
limited to objectives that only suited the governments’ purposes. The industry
architecture could consist of stakeholders like companies that sell
services/machinery and governments that provide research and exploration of
space; it also consists of buyers of these services. Then, you’ll need roles
that specify whether a body acts as a regulatory body, a manufacturer, a
service provider, or a research authority, etc. And lastly, you need a solid
set of rules and regulations that are meant to evolve as the industry grows.
When all of these aspects of an industry’s architecture are designed
meticulously, they can create an environment where the industry can flourish.
What Are The Challenges?
Improving on technologies like ISAM,
STM, and even satellite standards would be paramount to helping the space
industry flourish. While it is possible to achieve that by working on space
laws, regulations, and policies, much of what stands in the way of the growth
of the space industry is not even strictly relevant. Most of the AI,
machine-learning, or robotics research and applications are non-space in
nature, yet they lend a helpful hand in helping the space industry grow.
Working on these technologies alone can thrust the growth of the space industry
forward. So, in a nutshell, working on technologies that, in terms of usage,
are not just limited to the space industry but span across a cross-industry
sector is a surefire way of technological success that helps the space industry
as a by-product.
Private-Led Spaceports
Spaceports are a novel idea that can
help take the burden of launches off the US’s shoulders. At present, the US
launch facilities are under a serious strain because of the innumerable space
launches that have started happening recently. At the same time, they seem like
a sign of growth in industry, if spaceports that are built according to the
best standards and adhere to all the regulations were to become common in the
private-led sector, that would also serve as an industry milestone to be
achieved. There are different launch vehicles with different requirements, and
letting the private sector build dedicated spaceports would greatly help.
Privatizing SpaceComs
As the value of space rises with
mankind’s exploration and more and more missions, both government-backed and
private, are sent out into space, the idea becomes coveted by cybercriminals.
Allowing the private companies to improve cyberspace communication by
introducing novel techniques that make it possible for people on the ground to
connect and communicate with space missions and satellites safely is a
lucrative industry with a serious growth margin.
Conclusion
The space business has been evolving
rapidly in recent years. While there is serious potential in the industry, it
requires a complete structural overhaul to succeed and secure mankind’s future.
Prioritizing the growth of the industry and incentivizing it correctly can
massively evolve the industry.
