The space industry is a diverse and growing industry, encompassing not only the various manufacturing and service roles within the space economy but also the emerging field of space tourism. In this article, you will learn about what the space industry encompasses, its history, and the main organizations to be aware of.

Table of Contents:

Defining the Space Industry

The space industry is a term widely used to describe the various businesses and organizations involved in what can be broadly referred to as the ‘space economy‘. This collective term encompasses all goods and services related to ideas like space travel, space exploration, and space technology.

Until recently, the space industry was primarily associated with manufacturing and, in particular, the creation of launch equipment, satellite equipment, equipment to support astronauts, such as space suits, and equipment that could be used on space missions, such as ‘rover‘ vehicles.

However, today, most definitions of the space industry also include space tourism. This involves the provision of commercial space travel, where paying customers have the opportunity to travel into space for pleasure.

A Brief History of the Space Industry

Although aspects of the space industry pre-date World War II, most of the progress within the industry has occurred in the years since. Indeed, in those initial post-war years, the industry was largely based on manufacturing for government space agencies. During this time, the major milestones included the Soviet Union putting Yuri Gagarin into space in 1961 and the United States putting Neil Armstrong on the Moon in 1969.

Alongside space exploration, the space industry was also focused on putting satellites into orbit. Then, around the turn of the 21st century, the concept of space tourism or commercial space flight emerged.

Video: The History of The Space Industry (1955-1975)

The Cold War saw competition between the two great powers of the world – the democratic, capitalist United States and the communist Soviet Union. Both sides would fight to have the best technology in space and who would be able to achieve the ‘firsts.’ This video shows the history of the space industry between 1955 and 1975.

 

Aircraft and Spacecraft Manufacturers in the Space Industry

Manufacturing is a major part of the space industry, which would not exist without aircraft and spacecraft manufacturers. In some ways, space exploration can be seen as an extension of the aviation industry, and conventional aircraft are sometimes used within space missions alongside spacecraft.

For more about the companies involved in creating aircraft and spacecraft and for a definition of what aerospace means, read “Aerospace Companies: List of Aircraft and Spacecraft Manufacturers”.

Segments Within the Space Industry

It is generally agreed that there are four main components of the space industry, which are as follows:

Launch Services & Manufacturing

The launch services and the manufacturing segment is centered around developing equipment that will launch people and objects into space and provide related services. This includes manufacturing rockets, shuttles, descent vehicles, similar technology, and equipment used by launch service teams.

Satellite Manufacturing

The satellite manufacturing segment of the space industry is concerned with the design and creation of artificial satellites. This includes any object intentionally placed into orbit around the Earth, but some of the most common examples include communications satellites, mapping satellites, weather satellites, and space stations.

Ground Equipment Manufacturing

The ground equipment manufacturing segment of the space industry focuses on making various tools ground support staff use during space missions. This may include, for example, control stations, satellite dishes that are designed to receive signals from satellites, portable terminals, and similar equipment.

Commercial Space Tourism

The commercial space tourism sector is the newest segment within the space industry and is based on using space travel for recreational purposes. Essentially, space tourism companies design the equipment and provide the services required to send paying customers into space and then get them back to Earth safely.

Video: The Space Industry – The Next Trillion-Dollar Industry

A 27 minute documentary of the space industry. Yes, it is a pretty long video, but it is worth it :)

 

Space Industry vs. NewSpace

Historically, the space industry was dominated by space agencies, which are typically funded by national governments or even on an international basis. However, in the late 20th century and early 21st century, private companies began to become more involved in the industry, usually to commercialize space travel.

The term “NewSpace” emerged to describe this more modern industry element. It can be defined as the commercial component of the space industry, focused on private spaceflight and profit generation. By contrast, the term ‘space industry’ generally refers to all aspects of space travel, manufacturing, and services.

What is Space Tourism?

Space tourism is one of the fastest-growing areas of the space industry and refers to customers paying money for recreational trips into space. It can also be described as commercial spaceflight, and while space agencies may provide it, most of the new major proposals are coming from the private sector instead.

Why not read our “Space Tourism: 5 Space Companies That Will Make You An Astronaut” article to explore the topic of space tourism in more depth and learn about some of the proposals currently in development?

Companies in the Space Industry That Focus on Space Tourism

Within the space industry, several major businesses have presented ideas or visions for the space tourism services they intend to provide. You can learn more about these below:

Virgin Galactic

Founded in 2004, Virgin Galactic is a subsidiary of the Virgin Group and has played a leading role in the commercial space industry. It is one of the few organizations to have sold space flight tickets, and the company has also completed numerous test flights, with its astronauts earning commercial astronaut status.

To learn more about Virgin Galactic, its future plans for delivering space tourism, information about pricing, and much more, read our “Virgin Galactic: Information About Virgin Space Flights” article.

SpaceX

SpaceX is often seen as the main space tourism rival to Virgin Galactic. The company was founded by Elon Musk in 2002 and already had extensive experience in the space industry, becoming the first private company to send astronauts into orbit. Elon Musk has also outlined plans to provide regular trips for space tourists in the near future.

If you would like to find out more about SpaceX, its achievements, and its plans for providing commercial space travel, check out our “SpaceX Information: Rockets, Spacecrafts and Spaceflights” article.

Blue Origin

Blue Origin is another example of a business in the space industry proposing space tourism services. The company was founded in 2000 by Amazon founder Jeff Bezos and has completed numerous test flights. In the short-to-medium term future, Blue Origin hopes to provide customers with access to short-duration return trips to space.

You can learn more about the foundation of Blue Origin, its history, the various test flights the company has carried out, and more by reading the “Blue Origin: Information About Blue Origin Space Flights” article.

Boeing Starliner

Boeing has a long history of providing tourism services for customers, and the company has branched out into the space industry with the development of the Boeing Starliner. The plans are for this reusable spacecraft capsule to provide regular services for commercial passengers looking to visit space.

Recently, Boeing has formed a close relationship with NASA, and the space agency has even chosen the company to provide travel for commercial passengers who wish to visit the International Space Station.

Orion Span

Orion Span is an upstart company in the space industry based out of California in the United States, best known for its Aurora Space Station proposal. This space station will be placed in low Earth orbit, where it will subsequently function as a luxury space hotel, allowing tourists to travel into space and stay overnight.

You can find much more information about Orion Span as a company, and their plans for the luxury hotel on the Aurora Space Station, by reading the “Orion Span: Information About Orion Span Space Hotel” article.

NASA International Space Station

The International Space Station (ISS) is a low Earth orbit space station that is a collaborative project between various space agencies, including NASA. Until recently, NASA has opposed using the space station for commercial purposes but recently backed down on that stance, opening up new commercial opportunities.

NASA now has two initial agreements with SpaceX and Boeing, allowing those companies to provide paying customers with access to the ISS and to determine flight crew composition. This will allow both companies to deliver comprehensive space tourism services, including overnight stays, in the near future.

Video: How Space Tourism Will Work

 

Who Was the World’s First Space Tourist?

One of the key events that helped to make tourism part of the space industry came in 2001 when American entrepreneur Dennis Tito traveled into space as part of the Russian Space Agency’s ISS EP-1 mission to the International Space Station. In the process, he officially became the world’s first space tourist.

You can learn much more about Dennis Tito’s journey into space, including background information on how the mission came about, by reading the “Space Tourist: Who Was the First Tourist in Space?” article.

How Can I Actually Book a Space Flight?

While space tourism development is helping usher in a new age for the space industry as a whole, you may be wondering exactly how you can get in on the action. The good news is that some companies are already taking bookings, reservations, or applications for waiting lists, as long as you have the money required.

To learn more about the companies taking bookings and the process you must go through to secure your flight into space, read the “Space Flight: How to Book a Ticket into Space” article.

How Can I Make a Space Hotel Reservation?

An extremely exciting development for the space industry, particularly space tourism, is the emergence of realistic proposals for fully functional space hotels. These will allow customers to travel into space on short-duration flights and stay in space overnight or for several nights, extending the entire experience.

In addition to putting forward ideas for accommodation in space, some companies are already taking bookings. Read the “Space Hotel: How to Book a Hotel in Space” article to learn more.

The space industry is now incredibly diverse because it includes the various manufacturing companies involved for decades and the newer space tourism companies. As a result, the industry is now not only about research, exploration, and nations but also about pleasure, experiences, and individuals.

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This article is written by:

Martijn Barten
Hi, I am Martijn Barten, founder of Revfine.com. I am specialized in optimizing revenue by combining revenue management with marketing strategies. I have over 15 years of experience developing, implementing, and managing revenue management and marketing strategies and processes for individual properties and multi-properties.