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

SEA supplying TLS to navies in South East Asia

Cohort company SEA is supplying its Torpedo Launcher Systems (TLS) to three South East Asian navies that have signed up for a solution based on technology originally developed for the UK Royal Navy.

Bristol Airport and SWRnewstar win Waste2Zero award

SWRnewstar has won the Waste2Zero Best Waste Project Communication & Stakeholder Engagement Award in partnership with its customer Bristol Airport.

Defence Secretary checks progress of first City Class Type 26 frigate

The Secretary of State for Defence, Gavin Williamson MP, visited BAE Systems’ Clyde shipyards yesterday to gain an insight into the Company’s next generation digital ship design approach for the Type 26 frigates, before viewing the

Drukair opts for an A320neo

Drukair, the flag carrier of Eastern Himalayan Kingdom of Bhutan, has signed a purchase agreement for one A320neo to support its growth plans and complement its existing fleet of three A319s.

BA appoints Angela Williams as Group People Director

British Airways today announced that Maria Da Cunha, Group HR & Legal Director, is stepping down from British Airways after 17 years and Angela Williams is appointed to the role of Group People Director (joining the business on 4 June

Dnata awarded UK MHRA certification for Good Distribution Practice

Global air services provider and UK ground handler, dnata, has been awarded certification for Good Distribution Practice (GDP) by the UK Medicines and Healthcare Products Regulatory Agency (UK MHRA).

ODU SK191217191218
See us at
SMI FAVWSBT1402060618SMI HelicopterTBT1402240518FIL18 BT111017220718