Private Players Fuel Rapid Innovation In Space Travel – Market News Store

Private Players Fuel Rapid Innovation In Space Travel

Space technology may have become limited after the Apollo expedition and space shuttle eras but now the race to outer space is being fueled by private industry. Reusable rockets popularized by SpaceX have captured the imagination of others in the field and now everyone is making them that have helped to reduce cost of building rockets. The world has learnt several lessons from 135 shuttle missions sent since then while 20 years of International Space Station’s existence has improved knowledge about working and existing in space. Though it has been nearly 50 years since Apollo 11 landing there have not been any manned expeditions to either the moon or to other planets.

Industry watchers like Sid Gutierrez say that the excitement around space exploration and travel has started buzzing due to pioneers of private industry like Jeff Bezos of Amazon and Elon Musk of SpaceX. After they showed by example that certain challenges could be taken by private players too it encouraged others to step in with their ideas. As a former astronaut and present CEO of Rocket Crafters he has a good grip of the industry and knows what the work entails and believes that war historically drives innovation.

The Saturn V rocket system of Apollo was disposable and different stages of the rocket burned up in the atmosphere while some of them crashed into the ocean and few crashed into the moon. Though the intention was to make space shuttles reusable the fuel tank simply dropped into the atmosphere and burned up into small pieces while shuttle booster could be used only after pulling it out of the ocean. Only in 2015 when both SpaceX and Blue Origin perfected rocket boosters that could make perfect landings back on earth space travel became a reality and affordable as they could be refurbished for multiple launches. Today while SpaceX Falcon Heavy’s single trip costs $90 million the Delta IV Heavy of United Launch Alliance is at $350 million.

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