The falling cost of rocket launches has fueled a boom in the private space industry.
Interest in space startups surged after Intuitive Machines became the first private company to successfully land a spacecraft on the moon, the first U.S. landing on the lunar surface in more than half a century.
Despite the lander tilting sideways on the lunar surface, the company is likely to complete its mission and prove what such a startup is capable of.
Falling rocket launch costs are fueling a boom in the private space industry, which could reach about $770 billion by 2027, with some estimating that “new space” companies could capture a sizable share of the market.
Here are some companies working to explore opportunities:
Intuitive machine
The Intuitive Machines program, led by former NASA employees, also has two missions to test the possibility of using lunar resources for future exploration and provide NASA with more research tools to the lunar surface.
The Texas-based company, which went public in February 2023 through a merger with a blank-check company, received $118 million in funding from NASA’s Commercial Lunar Payload Services (CLPS) program to use In developing lunar landers.
Space Technology Center
Elon Musk’s SpaceX is one of the world’s most valuable startups, valued at more than $180 billion, and has led the private sector in the space industry in recent years with reusable rockets and broadband satellites.
Scheduled for its third launch next month, the Starship rocket is the most powerful rocket of its kind.
The billionaire said the long-term goal is to land on Mars, with plans to establish a sustainable colony on the red planet and reduce transportation costs into space.
Musk said the company’s Starlink, a constellation of more than 5,000 satellites, provides broadband services to parts of the earth and has achieved cash flow breakeven.
rocket lab
Rocket Lab was founded in 2006 by New Zealander Peter Beck and went public in the United States in 2021 through a merger with a special purpose acquisition company.
Analysts consider it one of the most promising “new space” companies because it is the most frequent private rocket launch company after SpaceX.
The company, known for launching satellites into niche orbits using its small Electron rocket, is expected to test its reusable Neutron rocket later this year. The rocket is designed to be able to carry large numbers of satellites into low-Earth orbit, even on missions to Mars and Venus.
Rocket Lab has hundreds of millions of dollars in federal contracts in the United States, including satellite production, spacecraft launches and agreements to explore using rockets to deliver cargo around the world.
blue origin
Blue Origin, the aerospace company founded by billionaire Jeff Bezos, has been selected by NASA to develop the Blue Moon crew landing system for the Artemis V mission, with a total contract value of $3.4 billion.
The agency also awarded Blue Origin $35 million last year to advance its Blue Alchemist technology, which uses lunar dust and debris to autonomously create solar cells and oxygen.
The company also competes with British business tycoon Richard Branson’s Virgin Galactic in space tourism.
firefly aerospace
The company, based in Cedar Park, Texas, is developing a lander called Blue Ghost that will deliver private and government payloads to the moon this year, including three under the CLPS program.
Firefly, with support from AE Industrial Partners, is trying to mass-produce its medium-sized rocket while developing the first stage for Northrop’s U.S. version of its Antares rocket, announced in August 2022.
Last month, the company was selected by the National Reconnaissance Office as the launch provider for a 10-year contract worth up to $700 million.
Late last year, the company was valued at $1.5 billion after raising about $300 million.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
