It can still sound like something out of a science fiction movie, but when you consider how fast technology is evolving, I think it’s not too crazy to say that space economy is rising and some of the world leaders in the field of tech are starting to invest in it. When you talk about space economy you would immediately think about mining, manufacturing and supplying various things in space. It means using resources and doing activities in space that will provide many beneficial things to humans and create more value in researching, exploring, managing, utilizing and eventually understanding space itself. Private companies are putting their big money into creating new and advanced infrastructures on Earth, so they can support space expansion. There are already manufacturing companies which are using their knowledge and expertise in order to lay some space economy foundations.
So what are some special features of space economy? Space sectors are always using technology with cutting edge both for investment returns and further developments of projects. Space sector is a sector dominated by government because space access is not cheap, and it also involves technical risks. Governments are investing in many space activities because of the value of space economic, strategic goals and national prestige. $122.58 billion dollars spent on commercial services and space products, $117.49 billion on supporting industries and commercial infrastructures. The space budget of the U.S. Government is $41. 26 billion and non U.S. space budget is 32.84 billion dollars, which makes $314.17 billions in total. There are many satellites ( over 1,100) orbiting close to Earth. They are used in telecommunications, defense systems, alerts, agriculture, GPS and even weather forecasting. Since 2013 launches of satellites increased over 60%. 2 years ago Google started to invest billions in order to expand Internet even further.
We also have space stations, not just satellites. It is used for businesses, refueling, manufacturing and also I hope in near future tourism. I think really beneficial and great thing would be having a lunar base on the moon. Minerals that are on the moon can be transformed into fuel for rockets, and since gravity on the Moon is 1/6th of Earth’s, launching rockets would require much less fuel. Also, the basic necessary things for human life on Earth, water and air can be transferred from lunar soil. While we’re on the subject of the Moon, I want to mention that China is planning to land on the moon next year for collecting moon rocks.
There are even some tests done for 3D printing. We could transfer 3D printers onto the Moon and then print Moon bases. I think the next great success for the human race will be landing first people on Mars, as I see it as key to the future of humanity. There are many benefits from Mars such as mining, energy sources and opportunities for further developments. I think that as our space economy continues to expand, so will our knowledge of the universe. It will also create new opportunities, both on Earth and in space. With so many supporters the space economy of tomorrow is already here.