SpaceX may be the highest-profile player in the race to commercialize Space, but it is certainly not the only one. In 2021, the global Space economy was estimated at more than US$490 billion in what is set to become a trillion-dollar industry. More than 1000 new Spacecraft in orbit were observed during the first half of 2022 alone. The global trend indicates that risk-taking and hyper-entrepreneurial New Space (private Space industry) entities are likely to be the leaders in the next phase of the Space race.
SpaceX, for instance, eventually aims to have 42,000 satellites in Space to create its Starlink mega-constellation and multiple companies offering services in Space tourism. These types of movements largely originate from the “left coast” of Silicon Valley and other fertile start-up environments.
