In-depth insights
New Space
The profound transformation of the space industry is underpinned by new digital technologies and business models often referred to as “New Space”, which is populated by young aerospace companies launching space missions to provide commercial services at a global level.
The New Space concept, however, is about new business models, starting from funding, which is mainly driven by private capital sources in contrast to the main public funding programs supporting traditional space practices. However, New Space is not only a shift regarding the privatisation aspect of the space industry but also a shift in engaging new downstream services, where space assets are not the main factor in defining a mission. Rather, the service delivery model and the management of the whole company structure are at the core, following new agile principles permitting constant evolution based on modular space infrastructures.
In this document, we look at all the opportunities as easy access to space opens the door to a host of projects and initiatives. We also detail how aviation will benefit from new space (for air/ground communications and for air traffic tracking).
The New Space run has just started and the next decade will be crucial in defining the rules to ensure a sustainable, safe and efficient system, while ensuring that people can benefit from new services, enabled by a global level playing field, a necessary condition for the industry to remain competitive globally, where the sky is really not the limit.
