While everybody is rightly celebrating recent successes in commercial space, some long-term trends are just beginning. It is still early days, and significant growth and new opportunities are just around the corner.
Forecasts that predict the space industry to grow to a trillion dollars by the 2040s will require the development of new markets, even with the modest annual growth rates needed to achieve that goal.
The space race of old was between governments, but we may be on the brink of a 21st century private space race on an international scale.
Owing partly to the emergence of small satellites, NewSpace startups are disrupting commercial space by addressing these and other questions on shoestring budgets compared to government programs.