Space

Significant investment from new players has spurred new growth in the commercialization of space. New satellite networks and services, nations rapidly gaining experience going into space (e.g.,  Japan, China and India), as well as private entrants including Virgin Galactic, SpaceX and Blue Origin are all vying for a piece of the market. These players and others investing heavily in space will be the future builders of rockets, satellite constellations and space tourism. 

Starting from a clean sheet, these new entrants will change how programs are executed.

New technological innovations enable companies to reach space objectives faster and cheaper. 3D printing, reusable space launch vehicles and more efficient manufacturing techniques reduces the cost of entry for new competitors entering the market and improves margins for veteran companies. As a result, a profound change is occurring in the relationship between government institutions, space organizations and original equipment manufacturers (OEMs).

Hundreds of private companies and startups are not only driving down the cost of space travel but also fueling public interest in exploring space, mining asteroids and potentially colonizing new planets. Since SpaceX had its first successful launch in 2009, both venture capitalists and government funding in private space companies have been on an upward trajectory year over year. Now private citizens are volunteering to fly on suborbital flights and colonize the Moon and Mars.  This interest will continue to energize investment and growth within the space industry.