To figure out opportunities for your company, consider the four ways in which you could create value: data, capabilities, resources, and markets. TarunKhannaHBS
space shuttle program was winding down, the government’s policy on space moved away from its model of flowing all money and decisions through NASA and the Department of Defense. Instead, it began to allow privately funded companies to compete for public-sector contracts.
Whether it’s tracking the number of cars parked in retail locations or detecting methane leaks from natural-gas wells, creative uses for data gathered from space abound. GPS was just the start. Today the private sector has access to an increasingly broad, diverse, and powerful set of space-based data and services at ever more cost-effective prices. Take remote-sensing satellites, which use a suite of sensors to generate information about our planet’s surface almost in real time. Companies are increasingly turning to remote-sensing companies for data that will inform business decisions.
The use of satellites as relay posts for data transmission is also growing. Although ground-based networks tend to be faster, as the data doesn’t have to travel into space and back, the high cost of extending terrestrial infrastructure and the demand for mobile broadband have greatly increased interest in connecting to the internet through space.
Beyond R&D, many companies are working to usher in a new era of manufacturing that uses the unique environment of space. Companies such as Made In Space and Varda plan to build in space, eliminating the need to design satellites and other space infrastructure to survive the violent launch process. Doing so would open up entirely new possibilities for the shape, functionality, and cost of space assets.
Looking beyond the moon, additive manufacturing specialist Relativity Space foresees using its cutting-edge technology—which today it applies to building rockets—to construct an “industrial base” on Mars. Even more broadly, Jeff Bezos has stated that part of the vision behind Blue Origin is “to take all heavy industry, all polluting industry, and move it into space. And keep Earth as this beautiful gem of a planet that it is.
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