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Welcome to the Insights, Innovation, and Economics blog. If you’re new here, feel free to read my general Introduction to the Blog to understand more about the blog. If you’re returning, thank you, and hope you have a great read!

Thesis: Space has been, and will continue to be a pursuit of countries and commercial entities across the globe. The emerging commercial low Earth orbit economy is beginning to emerge, ripe with opportunities such as space voyages, space colonization, and in-space services.

If you haven’t read my Space Primer, I’d highly recommend it before reading this article as some of the terminology associated with this subject may be difficult to understand.

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Credit MIT Technology Review

Space Commercialization

In the first part of our discovery of space commercialization, we discussed legacy space industries (satellites and space launch services) and emerging space industries (space tourism, space mining, and space manufacturing).

Yet, there are many more segments of space commercialization to discuss.

So, today we’re going to learn about the following:

• Space Voyages
• Space Colonization
• In-Space Services

But before we continue, let’s remember why we’re here.

In my Introduction to Space post, I wrote the following:

So, today we’re going to discuss the different aspects of space commercialization, innovation, and exploration that have bolstered our economy here on Earth. These industries will only continue to grow in popularity.

With that, let’s dive in!

Emerging Space Industries

Credit AIChE

Space Voyages

Space voyages are key to understanding the world we live in and potentially discover habitable ecosystems on other planetary bodies.

Why do we need space voyages?

Space voyages help explore space, understand interplanetary dynamics, and potentially find habitable planetary bodies. As voyages continue, technological advancements will only continue. These technological advances flow down into other industries, bolstering the economy.

How does this industry work?

The space voyage industry is used to explore outer space. For hundreds of years, space was explored only from the surface of Earth through telescopes. In the last 100 years, space has begun to be explored by vessels sent out into space. This physical exploration is conducted by uncrewed space probes, robotic rovers, and human spaceflight.

What are the different types of space voyages?

Orbital Space Flights

Orbital space flights are flights into low-earth orbit for at least 1 orbit around the Earth. These flights are generally tourist-focused and are short and simple. Many new companies are entering this segment of the market–developing rockets to take people into space briefly, then back down to Earth again.

Missions to the Moon

We can’t mention space voyages without mentioning missions to the Moon. Historically, this has been the biggest portion of the space voyage market. Countries and large commercial entities have continuously tried to put rovers and people on the moon. As rockets become more sophisticated and more people want to go to the moon, missions to the moon will become more and more popular.

Robotic Planetary Missions

Robotic rovers are an extremely popular form of space exploration and the purpose of many space voyages. These rovers are sent to new planets and moons to explore the surface, hopefully finding valuable materials/minerals, water, or other things to incentivize further exploration and a potential human landing.

Satellite images find planets and moons that could be interesting for an in-depth look and then robots are sent to land on and explore the planet.

Deep Space Voyages

There haven’t been many deep space voyages to date, but the few that have occurred have been mainly probes. Countries have sent these probes far into space to explore and send back images/data of deep space. The further space probe ever sent has been Voyager 1, which reached the outer edge of the Solar System in 2012.

These deep space voyages take months, if not years, to complete. Most space probes sent on deep space voyages are not expected to come back to Earth.

Credit Wikipedia

Space Voyage Industry Dynamics

The space voyage industry has experienced significant technological improvements. Advances in space voyages are driving the growth of cutting-edge tools and uses. As launch costs fall, new capabilities for space voyages are emerging.

Government support for space voyages has been large historically–the majority of historical funding, yet private investment is beginning to dwarf government funding. This has led to higher demand for space voyages, space launch services, and other space commercialization industries.

Yet it isn’t all great. Space expenses are still large and the likelihood of failure is astronomical, meaning most missions will be a failure.

What will the space voyage industry look like in the future?

Increasing human curiosity and exploration is driving the space voyage industry. Increased accessibility and lower costs driven by companies like SpaceX and Blue Origin will bolster future launches in this market. Other companies like Virgin Galactic are pioneering suborbital space tourism flights. Governments are beginning to ramp up efforts to land on the Moon again.

There is potential for future long-duration deep space missions lasting months or years. Through this and the above, the orbital economy will continue to grow and develop. Overall, public-private partnerships will continue to drive growth in this industry.

Credit Wikipedia

Space Colonization

The space colonization market is highly speculative but can be a valuable solution to any potential global problems here on Earth.

Why do we need space colonization?

Unfortunately, we only truly need space colonization if the Earth is no longer habitable. Yet, billionaires and other eccentric people desire to habit other planetary bodies. Space colonization provides opportunities to expand the presence of humans and expand beyond our planet and solar system.

How does this industry work?

Spaceships are launched from Earth, fly to the colonist planet, then land on the planet’s surface. Temporary habitations are set up until more permanent dwellings can be constructed. From there, it looks similar to the movies, with habitants participating in exploration, mining, and other daily activities.

What are the different types of space colonization?

Moon Colonization

The easiest form of colonization proposed has been settlements on the Moon. Although the Moon may seem like an easier venture than others, it still has problems. Life still needs to be able to be sustained in the space colony meaning there needs to be an adequate supply of food, water, air, etc.

Luckily, United States missions in the 1990s suggested the presence of lunar water ice and the Chandrayaan-1 mission in 2008 confirmed the discovery in the soil.

Mars Colonization

After the Moon, Mars is the next most viable habitable planetary body. Mars is more advantageous than the Moon in that it possesses all the raw materials required to support life.

This goal is definitely longer term as humans haven’t even landed on Mars physically yet. The cost to travel to and from Mars is very high. Surviving on Mars, at least at this moment, is estimated to be very low at this point.

Credit Orion’s Arm

Orbital Colony Habitats

Orbital colony habitats are conceptual ideas of large structures that orbit the Earth. Designs such as the Stanford Torus, Bernal Sphere, and Cylinder Worlds have been proposed. These could be huge cylindrical or spherical structures potentially miles in diameter capable of housing thousands or even millions of residents.

Space Settlement Networks

Space settlement networks are interdependent human settlements across different locations such as Earth, Earth’s orbit, Moon, Mars, asteroids, etc. Instead of being isolated colonizations at each of these locations, this would be a network of interconnected colonies that would share resources, supplies, energy, and potentially even inhabitants. Eventually, a network like this could extend outward, allowing exploration and settlement across the Solar System.

Space Colonization Industry Dynamics

The space colonization market at this point doesn’t exist. Other markets in the space commercialization space need to become further developed before the space commercialization market can exist.

What will the space colonization industry look like in the future?

The space colonization industry has the potential to be massive in the future, but it’s unclear what exactly it will look like.

Credit Science

In-Space Services

The in-space services industry is one of the key backbones to the space commercialization segment providing critical support necessary to facilitate space exploration, colonization, manufacturing, tourism, and much more.

Why do we need in-space services?

As space becomes increasingly commercialized, in-space services will be needed to help facilitate colonization, exploration, and future space developments.

How does this industry work?

The in-space services industry will probably be formed through public-private partnerships, facilitating further space commercialization efforts. The demand for in-space services will only increase as space commercialization efforts increase.

What are the different types of in-space services?

Spacecraft Refueling

Private companies (like Orbit Fab) have already begun developing space machinery capable of refueling spacecraft and satellites on the go. Spacecraft simply have to attach a one-size-fits-all part to their rockets that will fit the docking station for refueling. This allows spacecraft to venture farther than before frequently. Proponents have also considered situations where rockets have much larger payloads, simply opting to refuel in space.

Space Repairs, Maintenance, and Upkeep

Space repair, maintenance, and upkeep services help repair and extend the life of critical spacecraft, satellites, and other space vehicles. This practice helps avoid having to bring spacecraft down to the surface or replace entire spacecraft when they malfunction.

Orbital Debris Removal

Orbital debris removal refers to the active removal and disposal of space debris objects that can pose threats to spacecraft. Companies like Astroscale and ClearSpace are pioneering this service, however, it is unclear how the services will be monetized yet.

Logistics & Transportation

Space logistics and transportation services are projected to help transport cargo from various places in space to other destinations. This could include passengers, mining materials, rocket fuel, etc. These services are still in the rudimentary phase as a large network of space infrastructure is required to facilitate constant logistics and transportation needs, yet this will ultimately become one of the important space industries.

Utilities & Infrastructure

Space utilities and infrastructure refer to setting up communications relay networks, in-space navigation services, power operations such as solar, and other infrastructure to enable routine space operations. Don’t worry there will be a future blog post on space infrastructure.

Credit Orbital Today

In-Space Services Industry Dynamics

Again, this industry doesn’t fully exist yet as other industries are necessary before this industry is formed.

What will the in-space services industry look like in the future?

I would wager that the in-space services industry will be one of the largest space industries in the future as it will be part of the backbone infrastructure. The demand for in-space services will only increase over time.

Credit NASA

Building the Commercial Low Earth Economy

The commercial low Earth orbit (LEO) economy refers to the emerging ecosystem of commercial activities and governments operating in the region of space directly around Earth. This is the most immediate place for space commercialization as it is the closest and is already starting to be commercialized.

Deloitte, in their briefing on the commercial low earth orbit economy, states the following:

The 2020s have witnessed major breakthroughs across the commercial human spaceflight market. Millions watched the return of human spaceflight from US soil on commercial vehicles, private astronaut missions are gaining traction, and a variety of potentially game-changing vehicles are being designed and tested. Coverage across news, streaming, and social platforms has once again thrust human space exploration to the forefront of the public eye. But while much of the fanfare has focused on ‘big firsts’ in low Earth orbit (LEO), each major leap is the culmination of decades of investment and innovation. Together, a robust ecosystem of public, private, academic, and non-profit players has the capabilities to make activities in the ‘new space’ economy possible.

Credit Deloitte

Infrastructure and services are the foundation for growth in the space commercialization market. Each emerging industry in the space commercialization segment requires technological advancements, new platforms, and more maturity in the underlying infrastructure.

Current barriers that exist in this market will need to be overcome by countless investments and innovations across the private sector, government, and academia.

Deloitte finishes their report with the following:

By 2035, our vision for a vibrant LEO economy includes multiple on-orbit destinations, regular human-rated access to space, and robust capability across other supporting I&S sub-segments. These are the foundations needed to close an increasing number of business cases for human spaceflight and accelerate growth towards a sustainable market driven by commercial demand.

Space Commercialization

Overall, the topic of space commercialization is extremely large, dense, and complex. I haven’t even mentioned some of the integral backbones of this market (don’t worry there will be another follow-up to this post).

The commercial space industry enables new applications and services, such as space voyages and colonization, all facilitated by in-space services. There is an increasing level of collaboration between government space agencies and private companies, which is only expected to continue as space becomes increasingly commercialized.

The commercialization of space is expected to drive the development of a new space-based economy, with potential industries ranging from space tourism and voyaging to space-based colonization and beyond.

To conclude, I’m putting the same Jeff Bezos quote as last time:

“Great industries are never made from single companies. There is room in space for a lot of winners.”

Anywho, that’s all for today.

-Drew Jackson