Commercial space travelling; The Next Biggest Sector in the Transportation Industry

in Project HOPE2 years ago

On July 20, 1969, Neil Armstrong was the first astronaut to go to the moon. Since then, astronauts have been visiting space more often. This major act has brought about the space industry which has in turn reproduced the space business. The space industry is valued at over $100 Billion in 2006 and has created jobs for about 370,000 people in general for both OECD countries and the space industry of Russia.

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The space industry is expanding its tentacles from satellite related activities to space tourism. You do not have to be an astronaut to travel to space in the future. You might only need to book a space flight from your mobile phone. Key players in the space tourism industry like Virgin Galactic, Blue Origin, SpaceX, Boeing and Orion Span are working hard to make travelling to space something everyone can participate. The space tourism industry is said to be valued at 3 billion dollars in the year 2030.

We are at the vanguard of a new industry determined to pioneer twenty-first century spacecraft, which will open space to everybody- and change the world for good – Sir Richard Branson

In the early 2000s the Russian space agency was the first agency was the only organization taking people to space. In 2001, Dennis Anthony Tito funded his first trip to space, making him the first space tourist. Things have changed and a lot of private firms are now going into the space tourism and travel business.

Virgin galactic a top player in the space travel industry started trading on the New York stock exchange market, making the first publicly traded space travelling company. Virgin Galactic plans to go on a space travelling orbiting the edge of space at an altitude of 50 miles in space this year and have already began selling booking tickets of which more than 700 individuals have booked their ticket for a deposit of $250,000 each. The space jet will be carrying 6 people on a trip. Virgin galactic has also opened its first commercial space port in Mexico preparing for the future of space travelling. Blue origin is also going to be selling tickets to individuals as well this year probably at a price similar to Virgin Galactic

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The days of science fictions are over and everything is happening really fast. Space key player Orion Span CEO Frank Bunger, said that they will be creating a private commercial space station in low orbit and would be offering space tourist a 12 day stay experience for a sum of $9.5 million individually. The space station is going to be designed like a space hotel. The station will be deployed in low orbit in the year 2021.

Elon musk Space X has a goal of lunching a commercial trip round the moon after which it goes to mars. The company uses a reusable rocket lunch system and the trip is planned to take place in the year 2023. Other key players in the space tourism industry who are willing to start commercial operations this year.



Conclusion

Currently, space travelling looks like a luxury thing only affordable by the rich. There are going to be several challenges in space trip such as fuel and resources to launch a space trip also maintenance is on a high and that will be the major reason why the prices for a trip is really high. Also, several test has to be done for the safety of passengers before the major lunch is done as rooms for errors won’t be a thing to accept. Certain side effects are associated to space travelling like loss of bone density and a slowing down of the cardiovascular system would not be the responsibility of the space company.

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Do you have more up to date figures for value of space industry? 2006 is a long time ago!

Hi @ojerinde

Excellent friend. However, with the acceleration of technology, a dream has just been born for me. Will it be that I can travel to space .. Will it be that my generation X can?

I mean people like you and like me mere mortals.

You know I have a little feeling that if possible .. What do you think-

Saludos.

Having the fact that in x generation, people are able to travel to space is beautiful but currently the service is high, maybe later in the future price could reduce as more ways to reduce cost keep showing up

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Although the idea of tourism is attractive, it is very expensive and makes me wonder if there is enough benefit ... maybe, after all it can be marketed as an exclusive service for the elites and that would justify its prohibitive cost.

Personally, I am in favor of massification and volume gains, so this business model for the elite alone is not entirely satisfactory to me, but I understand that with current technology you cannot expect a decrease in costs in a short term.

It is believed that travelling to space will make is see value in our world. A lot of people want to see the galaxies. In short time too humans might start developing other planets making it habitable for man. Well it might be the beginning of an alternate universe:)

I don't know if space tourism would help the development of ecological awareness, but I would like it to. The idea of ​​traveling and colonizing other planets is not bad, but I don't think we still have the technology to make it viable today, it may develop in a few years, but I don't know anything about that future.

I think that if it is possible to travel and colonize other planets, we would have to face new territorial problems, it is like the mess that occurred with the ownership of the Moon during the time of the Space Race, they had to declare that no country or power could claim right of ownership over the territory of the Moon, but that would not be attractive to pioneers who decided to establish themselves, after all, the right to own the land where you live is something that I could not deny anyone.

In the longer term, we could consider another problem, I think that the Earth, as the main planet, would never let the colonies develop to the point of becoming independent, so we would be facing a new edition of the Era of Colonization ... What In the long run it will take us to Wars for Independence and the Right to Self-Determination of Peoples and Freedom.

This is a fascinating post. I have been following blue origin and Virgin Galactic for a while now, a lot of money have been invested in the space travel and tourism business.

Currently it requires a lot of testing to get people to space since it is not a simple task. As for health effects from travelling to space, the company can be responsible for that, there would probably be an agreement to that case.

It will be wonderful if humans can start colonizing other spaces and doing business there.

Solid read @ojerinde
Resteemed already . Upvote on the way :)

I know its not the same, but Humans have the ability to completely cross barriers.

In 2009 someone was thinking it could just fool or play with an algorithm that would generate free money. Then 100's of them followed. Then in 2010 a pizza got bought with bitcoin (10000 BTC, worth 30$ at the time). Now, it would be valued in +90 million dollars.

Today, we can use Bitcoin or any other currencies for purchasing multiple things, exchanging values cross borders without secondary authorizations or permissions, including (if you are very resourceful) still mine the same currency that started 10 years ago.

in 10 years a LOT changed... and it was not just technology or research of the same. It was people's mind, communities got created, societies shaped.

Tomorrow what we think bad, can feel good. What we think impossible can turn to be the daily life. Never think the future is impossible. Think wise, think with an open mind, able to consider new ideas and solve new paradigms.

Be brave!

Don't be a ... you know what!

Every effort to create technology or to be a pioneer in something must be driven by a transcendental reason.
I think that "space tourism" is a very trivial reason and is only based on commercialization.

A space trip should serve to provide humanity with great value. To give it life or to prolong life. To evolve.

Just as BTC did, it came to change the lives of people and of all humanity. Change to move forward and evolve.

Wow, this feels like a fiction movie while reading but if it is real then it is beautiful.

Whatever you think is privatized space travel, my thoughts linger until corporations in space. Even wars fought between enterprises over resources that are not found on Earth are more than just science fiction.

 2 years ago Reveal Comment

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