History Doesn't Repeat Itself, It Rhymes: Why Every Company Will Eventually Need to Leverage Space

Co-authored by Brian Miske and?Zaheer Ali

In the last article, The Universe is under no obligation to make sense to you, but in business profitability is non-negotiable , we discussed the point that by leveraging existing infrastructure and technologies, collaborating with other organizations and organizations, and taking advantage of government incentives and funding programs, organizations can reduce their costs and access new markets with less risk. ?This article discusses the need for companies to adapt to new technological paradigms and embrace space as the next big frontier for business.

History doesn't repeat itself, but it rhymes, and as we've seen time and time again, industries that fail to adapt to new technological paradigms risk getting left behind and ending up on the scrap heap of history alongside Kodak and Blockbuster. Just as every company must now think of itself, at least in some part, as a technology company, so too will each company need to envision itself as part of or leveraging space.

The idea of space as a viable commercial frontier is not new. For decades, organizations like NASA and SpaceX have been at the forefront of space exploration, developing cutting-edge technologies that have enabled us to explore the depths of our universe. Despite the majority of the value derived from space being commercial, until recently, the commercialization of space has been limited to a handful of organizations and government agencies.

However, things are changing fast. Over the past few years, the private sector has begun to take a more significant role in space exploration, and the trend is only set to continue. Organizations like SpaceX, Blue Origin, and Virgin Galactic have and continue to pioneer new technologies that promise to revolutionize the way we live, work, and communicate in space. And as the cost of space travel continues to decrease, more and more businesses are starting to see the benefits of investing in space-related ventures. Furthermore, as we have huge increase in number of players and objects in space in the last decade, thanks primarily to the reduction in the cost of launch by a factor of 10, SpaceX’s Starship, with its unprecedented cargo capability will further drive down the cost of launch and enable new players and business models to emerge.

One constant throughout these changes is the need for organizations to adapt or perish. Those that have been slow to embrace new technologies or failed to see the writing on the wall have fallen by the wayside. This is not a gradual evolution, but a rapid advancement of technology, in recent years, that has made the stakes higher than ever. Organizations that are unable to keep up risk being left behind for good.

To prepare for the eventuality that each company will need to envision itself part of or leveraging space it is important to note that Space is both a vertical and horizontal. Companies who could never be directly part of the space economy will still have opportunity and necessity to leverage what the space economy offers.

Moving away from a being more of a club, one which saw space primarily the domain of governments and a handful of private organizations, the rapid development of new technologies and the rise of private space organizations such as SpaceX and Blue Origin has pushed the space industry into a new era of accessibility and opportunity. This democratization of space is both in terms of size and type of commercial organization as well as geographic with new regions entering the economy.

The potential benefits of space exploration are enormous. From the development of new materials, medicines, and technologies to the extraction of valuable resources, the possibilities are virtually limitless. But beyond these practical applications, there is also the potential for profound societal and cultural impact. The view of Earth from space has been described as a "pale blue dot," a reminder of the fragility and interconnectedness of our planet. This, overview effect, as it is called was shown dramatically live in William Shatner’s tears as he effusively described how a simple quick, up and down jaunt to space, enormously affected him. Space exploration has the potential to inspire a new generation of scientists, engineers, and explorers, and to spur innovation and creativity across a wide range of industries.

The idea of space exploration as a commercial enterprise is not new. Private organizations have been launching satellites and providing other space-related services for decades. The cost of launching payloads into orbit is dropping rapidly, making it increasingly feasible for a wider range of organizations to explore the possibilities of space. That combined with the emergence of reusable rockets, and the development of new applications for space, such as asteroid mining and space tourism, are taking things to a whole new level.

In the near term, the most obvious application of space technology for many organizations will be in the realm of satellite technology. With the proliferation of the internet of things (IoT) and the need for ubiquitous connectivity, satellite networks are becoming increasingly important. Organizations such as SpaceX and OneWeb are developing satellite constellations that will provide high-speed internet access to remote areas of the globe. Other organizations are exploring the use of earth observation data, imagery and other types, for a wide range of applications, from utilities and agriculture to urban planning.

But beyond these immediate applications, there are many other areas where space technology could have a transformative impact. The development of new materials in space, for example, could lead to breakthroughs in fields such as medicine, life sciences and energy. The exploration of asteroids and other celestial bodies could yield valuable resources such as rare metals and water, which could be used to fuel space missions and support human settlements in space. And the development of space tourism could create a whole new industry, providing opportunities for organizations across a range of sectors.

Of course, the challenges of operating in space are significant. The harsh environment of space presents a range of technical challenges, from radiation to extreme temperatures. The cost of developing and launching space missions is also a major barrier, as is the regulatory environment, which is still largely undefined in many areas. Inhibitors such as regulatory hurdles, fixed mindsets, legacy mentals, and business models are potential impediments to growth of the Space vertical and horizontal. But the potential rewards are so great that many organizations are willing to take on these challenges to be part of this new era of exploration and innovation.

The key for organizations that want to leverage space is to start thinking about how they can be part of this new frontier.?

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“Working across an ecosystem of commercial, civil, academic and military partners to co-create the future together, identifying new frontiers and opportunities in Commercial Space; architect bold moves, test and invest through experiments or monitor the signals of change most important to your organization.”

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Over the past few decades, technology has played a crucial role in transforming the way businesses operate. From automation to artificial intelligence, smart organizations have been quick to adapt and leverage the benefits of digital transformation to stay ahead of the curve. But as technology continues to evolve at an unprecedented pace, it's becoming increasingly clear that the next big frontier for businesses lies beyond our planet: space. All other technological trends are pulled forward by our efforts off world.

So why should organizations start thinking about space now? First of all, very simply, the potential benefits are enormous. From space-based manufacturing and resource extraction to space tourism and satellite-based communication networks, the opportunities in space are only limited by our own imaginations, and just as with the internet, creative people are developing ideas and business models never before considered. Here are just a few of the ways businesses are already leveraging the benefits of space technology:

• Space-Based Manufacturing: With the development of 3D printing technology that works in zero gravity, it's becoming increasingly feasible to manufacture complex parts and products in space. This could revolutionize industries like aerospace and automotive, allowing organizations to produce parts with greater precision and efficiency.?The efforts in the US government, university systems and across commercial organizations are asking, ‘what does In Space Manufacturing and Assembly look-like at scale”?
• Resource Extraction: The resources available in space, from rare metals to water, could prove invaluable to industries on Earth. Organizations like Planetary Resources are already exploring the potential of space mining, and as technology advances, it's likely we'll see more organizations getting involved in this space race.
• Space Tourism: Space tourism is already a reality, with organizations like Virgin Galactic and Blue Origin offering suborbital flights to paying customers. As the cost of space travel continues to decrease, we can expect to see more organizations entering the space tourism market, offering everything from orbital hotels to lunar vacations.
• Satellite-Based Communication Networks: Satellites play a crucial role in modern communication networks, providing everything from GPS navigation to internet connectivity. As the demand for high-speed internet and mobile connectivity continues to increase, we can expect to see more businesses investing in satellite-based communication networks.

Of course, there are also significant challenges that must be overcome before space becomes a truly viable commercial frontier. The cost of space travel is still prohibitively high for most businesses, and the risks associated with space exploration are significant. But as technology continues to advance and costs continue to decrease, these challenges are likely to become more manageable.

So, what can businesses do to start preparing for a future in space? Here are a few key steps:

1. Invest in Research and Development: Organizations that want to stay ahead of the curve need to invest in research and development. This means exploring the potential of new technologies like 3D printing in zero gravity, as well as developing new materials and processes that can withstand the harsh conditions of space.
2. Partner with Space Organizations: As the private sector continues to take a more significant role in space exploration, it's essential for businesses to start building partnerships with space organizations. This could mean collaborating with organizations like SpaceX or Blue Origin to develop new technologies or products that leverage the benefits of space or investing in space-based startups that are working on innovative solutions to space-related challenges.
3. Reassess Business Models: As the potential benefits of space become more apparent, businesses will need to reassess their business models to ensure they are well-positioned to take advantage of new opportunities. This may mean pivoting to new markets or investing in new technologies and processes that can enable them to compete in a space-based economy.
4. Develop Space-Based Applications: Finally, businesses need to start thinking about how they can develop space-based applications that can help them achieve their business goals. This could mean developing satellite-based communication networks or using space-based resources to improve their manufacturing processes.

In conclusion, just as every company must now think of itself, at least in some part, as a technology company, so too must each company start envisioning itself as part of or leveraging space. The potential benefits of space are enormous, and as technology continues to advance, we can expect to see more and more businesses investing in space-related ventures. To stay ahead of the curve, businesses need to start preparing now by investing in research and development, building partnerships with space organizations, reassessing their business models, and developing space-based applications that are ready to scale for the future of humanity off-world.

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Stay tuned for next article:

The next article discusses the need for companies to accelerate commercial space opportunities through experimentation with intent. As the space economy continues to grow and evolve, organizations are recognizing the need to invest in innovative technologies and solutions to remain competitive. However, simply experimenting with new ideas and designs is no longer enough. To truly succeed in the space industry, organizations must move beyond experiment by design and instead focus on experimenting with intent.