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When it comes to space ventures and explorations, the year 2018 has left a rather stark mark across the journey of various space shuttles. From watching the SpaceX’s Falcon heavy lift off in the stars, errands to other planets, Japanese rovers landing on an asteroid and much more. However, the story of the space exploration doesn’t end here. If you thought that 2018 was a great year for space exploration, wait till you get to know what 2019 has in store for humanity and the earthlings.
Did you know what a launch vehicle is? A carrier rocket is a vehicle which is used which is brought into use to carry a defined payload from the surface of the earth to an exterior space object or in the space. If we talk about the entire launch system, then it comprises of a launch vehicle, launch pad, fueling systems, and the related infrastructure.
Small satellite companies plan and make arrangements to launch many in thousands of small satellites for low latency communications, Internet, imaging, vehicle and ship tracking services and much more. The Internet of Things paradigm also depends on these constellations. This market is expanding into a multi - billion industry opening a lucrative market for launch service providers. For example, On eWeb contracted 21 Soyuz launches in a more than $1 billion deal quite recently.
As everyone knows quite well, Nasa and Space X have already collaborated in the past for commercial crew and cargo programs that are instituted to provide supplies and astronauts to the International space station. Also, it is quite evident exactly how much Elon Musk likes to take earthlings to anything that lies beyond this planet. Some have also mentioned that its collaboration with Nasa has led to a saving of hundreds of millions of money. Let us get talking about the various achievements and innovations that the Space X collaboration has managed to achieve.
Ever Since its launch in the year 2002, SpaceX has achieved many major milestones over the journey of its operations. Space X, which was initially founded by lead designer and CEO Elon Musk, is a famous company for a number of achievements, one of them being that it is the only private company to return a spacecraft from low Earth orbit successfully. Space X is without a doubt, one of Elon Musk’s most successful businesses to date, among his many ventures and companies. From the flacon heavy test flight, to launching a car in space, he has been instrumental in leading by example.
It was in the year 2018 when Elon Musk predicted that his company would be able to pull off the launch of more than 30 rockets in the year. While many speculated that the number was a far fetched overstatement, many were eager to watch if the man would be able to pull off the statement made by him. Of course, the company did not manage to reach the number but of the 21 launches that it did make, words of appreciation for the company might fall short.
Building off on its earlier launch sequence place of eight launches in the year 2016 and 18 launches in the year 2017, Space X’s reusable rocket technology moved over and above of the proof of concept stage to become the support of a growing number of flight proven rockets. Although the company landed its first rocket in the year 2015, it took until the year 2017 for the company to reuse its first booster. In the current year, landings became like a routine job, and their engineers bid farewell to the moderately reusable Falcons of the past, moving in to era of more capable Falcons and technology.
Given the fact that Space X is even in talks with the government itself for collaboration, one can only imagine the kind of cooperation and market share that the company is enjoying at present. As reported by charts and various figures, the company happens to be making big in the domain of space programs. For a company which started with a mere share of 5 per cent in the space launch market, Space X has truly made it big with almost 60 per cent share in the same market at present. With more successful landings, costs are expected to come down and lead to better revenues for the company as well.
America’s privately funded aerospace manufacturer, Blue origin LLC, was founded in the year 2000 by Jeff Bezos. The company is presently engaged in the development of various technologies.
Launched initially for exploration in suborbital space flight, the company has been actively engaged in launching various developmental test flights, and facilities across various towns, for the purpose of flight testing. Now, it has also moved into orbital space flight missions and is making use of advanced technology to explore the space launch market.
As against what many might believe to be true, Blue origin doesn’t seem to be interested in running a space fight with Space X, its leading competitor. With a lot of tightly controlled information about the space exploration programs and their current market bearing, one can only conclude how the company might fare in the future.
With the number of launches rising each year, the future beholds an immense ambiance of possibilities and advances for the space launch market. Further aided by substantial contribution from the private sector, the market is receiving immense support. The space launch service market is expected to grow from a stark USD 8.88 Billion in the year 2017 to USD 27.18 Billion by the year 2025, at a CAGR of 15.01%. there are several market drivers and constraints, which affect the opportunities and challenges which are available and pose a threat in the market. Needless to say, some of the big giants in the industry, like Space X and Blue origin, seem to be fairing it well.
