“Advances in different fields are converging to make space less the final frontier and more like the next startup garage.”
-Newsweek, February 2, 2015
From rockets to data analytics, commercial space startups are flipping the existing business model on its head by providing highly scalable products and services. The commercial space industry is experiencing unprecedented disruption that will fundamentally change how commercial markets and the U.S. government plan, acquire, and use space-based capabilities.
Unlike Government exquisite systems (Space 1.0) or commercial exquisite systems (Space 2.0), Space 3.0 is being driven by venture-backed startups that are leveraging a variety of converging factors to produce a new wave of affordable products and services. From reliable space access to new analytics for remote sensory data, startups are disrupting current processes and establishing a new space ecosystem.
Inside the Next Startup Garage
Space is hard. Luckily, there are several converging advances that are helping startups launch, sometimes literally, entirely new product lines.
Access to Space
Low-Earth Orbit (LEO) to be specific. New launch vehicles and rideshare options are increasing access and decreasing costs.
Adoption of commodity hardware coupled with the use of agile development methods.
Lower costs and fast development allow startups to accept greater risks.
Affordability and tailored services are opening the space market to new customers.
Investment in a Commercial Ecosystem
Venture firms are investing in the new ecosystem ranging from launch systems to data analytics.
A Commercial Space Ecosystem Framework
CosmiQ Works believes that a viable commercial space ecosystem depends upon the success of several market sub-segments. CosmiQ Works has developed an overarching framework as a way to visualize the emerging capabilities in commercial space.