in Features

The business potential of 'NewSpace'

Posted 1 November 2013 · Add Comment

Steve Nichols examines why public and private organisations are being urged to consider commercial opportunities emanating from what is known as 'NewSpace'.

Delegates attending the 2013 International Space Commerce Summit, held in  London on 29-30 October, heard how public and private bodies are being encouraged  to make the most of opportunities arising from so-called  'NewSpace'.

The term 'NewSpace' is said to have been coined by US-based Deep Space Industries to describe the world of commerce opening up for companies bold enough to enter the 21st Century space race.

These opportunities include space tourism and the need for new spaceports worldwide, the markets opening up for new small satellites and their data, and manned space flight.

Delegates heard presentations and saw displays on a wide range of topics including:
  • SHIPinSPACE - a new space tourism venture (pictured) that could see 44 passengers blast off to travel 268 miles above the earth from 2018
  • The XCOR Lynx - another space tourism project that will see a pilot and passenger head skywards aboard a liquid-fuelled rocket plane, and
  • Astrium's EDRS satellites, which will use optical lasers to pass data from one satellite to another at lightning speeds so getting the information to the ground much faster.
Dan Lewis, Energy Policy Advisor for the Institute of Directors, said that the space industry directly contributes around £1bn to the UK economy, with a further £7bn being contributed through downstream services, such as satellite data. 
He added that the government has bold plans to increase this contribution and should release details of its new British Space Initiative within a couple of months.

"By 2030, we can expect to see real progress in suborbital space technologies in this country and we need to start thinking about where we can locate spaceports," said Lewis.

He said options for spaceport locations currently being considered include areas around Torquay, East Anglia, Kinloss in Scotland, and Wales.

Delegates also heard about how space risks are insured, how space policy and law is drawn up, how companies can attract investors, and how Government bodies, like the UK's Technology Strategy Board, are helping companies enter the industry.

And for the ultimate trip, they also heard how the Mars One project is looking for would-be astronauts to take a one way ticket to colonise the Red Planet from 2023.

Summit chairman, Deep Space Industries' Rick Tumlinson, best summed up the event: "We are at the beginning of a whole new era of space exploration and industry.
"It is happening right now and there is a lot of money to be made for entrepreneurs who are prepared to grasp the opportunities in front of them."
 

 

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Airbus publishes Brexit risk assessment

Airbus has today published a risk assessment outlining the urgent risks to its business arising from the UK exiting the European Union without a withdrawal agreement.

UKEF helps aerospace exporters gain £500m in overseas sales

UK Export Finance (UKEF) today published its annual report and accounts, showing government-backed finance and insurance helped UK aerospace achieve over half a billion pounds in overseas sales in 2017-18.

Stansted awarded globally recognised carbon neutral airport status

London Stansted has been awarded Level 3+ carbon neutral status by the Airports Council International (ACI), in recognition of its extensive work to reduce and offset carbon emissions at Londonís fastest growing airport.

Cranfield Uni wins NATO Excellence Award

A team from Cranfield University has won a NATO Excellence Award for a workshop delivered to assist with monitoring and controlling toxic contamination on live-fire military ranges.

Aerospace industry adaptation

Neil Cayley, Lead Consultant at Jonathan Lee Contract Recruitment, explores current issues affecting the aerospace industry and explains why adaption is vital to meet the challenges that lie ahead.

Esriís ArcGIS Online to provide info platform for Autonomous Warrior 2018

Esri UKís cloud-based mapping and analytics platform, ArcGIS Online, will provide the vital information integration and collaboration platform for Autonomous Warrior, part of the 2018 Army Warfighting Experiment (AWE) series.

RUBB_SK_1906190119
See us at
SMI GMSCBT3005081118AdvancedEngin BT1406011118SMIFAVSBT151118FIL18 BT111017220718DVD18BT3105200918