NewSpace is a term used to describe a new movement with new actors to develop space for commercial applications. The start of the development and exploration of space was oligopolized early by the early Space Race of the cold war.
Government agencies only trusted a few large companies to handle the immense upfront costs of building satellites and launch vehicles. Until recently, that control over the use of space has limited the participation of new actors and the activation of new approaches to launch and satellites. With most notably the rise of SpaceX and CubeSats, there is a growing interest among private companies and startups to look at new ways to develop space for Earth observation, communications, new research, 3D printing, commercial space stations, space mining, habitation, and more. More competition is driving down launch costs, and a desire by government agencies to save money is creating new commercial-friendly regulation that is drawing the interest of investors.
- Arizona State University | ASU NewSpace. Accessed 24 October 2018. [Web]
- viaSatellite. “Venture Capitalist Trends for NewSpace Companies.” Natalya Bailey. 1 August 2018.
- Bloomberg Businessweek. “Welcome to the New Space Age.” Jeremy Keehn. 26 July 2018.
- BBC News. “The billionaires fuelling a space race.” Joshua Cheetham. 21 October 2018.