Earth's orbital economy of tomorrow could be worth trillions




Tech Podcasts show

Summary: As the scope and focus of human spaceflight has evolved, so too have NASA’s methods and operations. Regions that were once accessible only by the world’s most powerful nations are today increasingly within reach of Earth’s civilian population, the richest uppermost crusts, at least. The business community is also eyeing near Earth space as the next potentially multi-trillion dollar economy and is already working with the space agency to develop the technology and infrastructure necessary to continue NASA’s work in the decades following the ISS’ decommissioning. At SXSW 2022 last week, a panel of experts on the burgeoning private spaceflight industry discussed the nuts and bolts of NASA’s commercial services program and what business in LEO will likely entail.As part of the panel, The Commercial Space Age Is Here, Tim Crain, CTO of Intuitive Machines, Douglas Terrier, associate director of vision and technology of NASA's Johnson Space Center, and Matt Ondler, CTO and director of engineering at Axiom Space, sat down with Houston Spaceport director, Arturo Machuca. Houston has been a spacefaring hub since NASA’s founding and remains a hotbed for orbital and spacelift technology startups today.“We're going from a model of where we've had primarily government funded interests in space to one that's going to be focused a lot on the commercial sector,” Terrier said, pointing out that Axiom, Intuitive Machines, and “SpaceX down in Boca Chica” were quickly being joined by myriad startups offering a variety of support and development services.“[Space is] the most important frontier for the United States to continue to have world leadership in and our goal is to ensure that we continue to do that in a new model that involves harnessing the innovation and the expertise from both inside and outside of NASA in the community represented here,” he continued.Axiom is no stranger to working with both sides of the government contractor dynamic. It is scheduled to launch the first fully private crew mission to the ISS in April and plans to build, launch and affix a privately funded habitat module to the station by 2028. “This commercial space, very similar to the beginning of the internet,” Older explained. “There were a few key technologies that really allowed the internet to explode and so there's a few things in aerospace that will really allow commercial space to take off.”“We think that the low Earth orbit economy is a trillion dollar economy, whether it's bioprinting, organs, whether it's making special fiber optic cable,” he continued. “I am completely convinced that 15 to 20 years from now we're going to be surrounded by objects that we can't imagine how we [had] lived without that were manufactured in space.”“For the last 20 years humans have lived on the International Space Station continuously,” Terrier agreed. “My grandchildren are living in a world where humans live on the moon, where they'll get a nightly news broadcast from the moon? I mean, the opportunities from a societal- and civilization-changing standpoint is beyond comparison.. is actually beyond comprehension.”The space-based economy is already valued at around $400 billion, Terrier added, with government investment accounting for around a quarter of the necessary upkeep funding and the rest coming from the private sector. He noted that NASA plays two primary roles as President Kennedy dictated in his 1962 “Why Go to the Moon” speech at Rice University: the scientific exploration of space for one, but also “to create the conditions for commercial success for United States in space,” Terrier said.“It's synergistic in a sense that the more companies operating in space, the more of an industrial base we can call on — driving the price down, amortizing the access to space — so that NASA d