space markets. Commercial launch services, in-situ resource exploitation, space debris mitigation, asteroid and lunar mining, in-orbit satellite servicing, space.
Emerging Space Markets written by Dr. Stella Tkatchova Over the past twenty years space agencies have been exploring ways to encourage private companies to get involved in the development of commercial space markets. Commercial launch services, in-situ resource exploitation, space debris mitigation, asteroid and lunar mining, in-orbit satellite servicing, space tourism and commercial space stations are some of the markets worth exploring. During those years space agencies have learnt that the commercialisation of space technology, built for scientific purposes, is challenging and difficult. However, it also holds the promise of new market opportunities and the development of new space transportation vehicles and space applications. Since 2000, commercial space start-up companies have attracted over 13.3 Billion USD of investment in over 80 angel and venture capitol based space companies. In the space industry there is an emergence of new space markets, customers and suppliers. Competitive driving forces, changing business models, disruptive innovation and the evolving challenges of qualifying and flying payloads in shorter lead times, are creating new challenges for space companies. NewSpace companies will need to discover, identify and target commercial space markets, and attract new customers rather than the traditional space agencies. Disruptive technology innovation will be the driver for providing competitive advantages. This book analyses the commercial space activities and commercialisation processes of the last fifteen years and maps the future challenges that NewSpace companies will face developing commercial space markets. Key questions arising are: What are the targeted commercial space markets and customers? How can NewSpace companies attract investors?; Will reusable launch vehicles be much cheaper to use?; Will the refurbishing costs for the first stage of a rocket be sufficiently low to make each launch profitable?; Is there a future for the in-situ resource mining, space debris services, in-orbit satellite servicing and sub-orbital transportation services?, What are the lessons learned from ISS commercialisation for encouraging the creation of sustainable NewSpace markets? Will venture capitalists understand and be willing to invest in the development of these vehicles, commercial space stations and the construction of inflatable modules? In addition, the reader will find a synopsis of several space agencies’ transportation programmes, commercial space markets, future Moon and Mars missions, in-situ resource exploitation, space debris mitigation and suborbital commercial markets. The major lessons learnt from the commercialisation of space technology, such as difficulties in attracting first time customers, attracting long term R&D funding, managing technological and market risks and developing new markets and applications. Commercialisation of space technology for future interplanetary missions post-ISS, has the potential to contribute to the development of key enabling technologies, solutions and space applications, to the direct benefit of our day to day lives and national economies. Dr. Stella Tkatchova, MSS’99 Dr. Stella Tkatchova is a project manager for Belgium space company and previously worked as a project manager on a long-term research innovation for the European Commission. In 2006 she was awarded a PhD by the Faculty of Aerospace Engineering at TU-Delft and in also holds an a MSS-99, from ISU. In her free time she writes articles about commercialisation of space technology and the book Space-Based Technologies and Commercialised Development. Several years ago she founded the International Journal of Space Technology Management & Innovation (IJSTMI).
