Speaker discusses new economic developments in space
Stuart Martin, CEO of Satellite Applications Catapult, discussed previous and upcoming changes in space applications and the private sector’s growing interest in space technologies at a lecture on Jan. 14 sponsored by the Houston Spaceport.
In the lecture, entitled “The Changing Face of Space Economics,” Martin said the world has already experienced two major waves of innovation in the space sector and is currently embarking on the third and most transformative wave of development.
“In the first period, leading up to the early part of the ‘70s, space really was a proxy for the Cold War,” Martin said. “The second phase was when we started to see early commercialization and a new focus on science and exploration. The third space age is what we are starting to see right now.”
During the second space age, the largest investor and user of space technology was the United States Department of Defense, which was interested in communications and imagery, according to Martin.
“The industry began to look at how it could exploit the technology it was developing under the DOD,” Martin said. “You start to see early phases of commercialization in space, but still very much led by governmental military investment.”
Martin said 2007 marked the beginning of the third space age.
“The iPhone was launched, which created a single device that linked communications, camera and satellite navigation, so now everybody is using satellite navigation in a way that even 10 years ago would have been inconceivable,” Martin said.
During the financial crisis of 2007, the government had an opportunity to announce the end of the shuttle program and the development of space launch systems, and it also reduced NASA’s budget, Martin said.
“Within six years, U.S. government spending for space has dramatically reduced by almost half while the commercial sector spending has grown by about 38 percent,” Martin said.
Martin said he believes around 2000 to 3000 small satellite launches will occur over the next five years due to reduced development costs for startups and new applications, such as carbon monitoring, natural disaster response, maritime monitoring and oil and gas infrastructure monitoring.
“We've already been talking to people in Houston working in port systems or emergency management systems and discussing how the new space technologies might support more efficient and effective service,” Martin said.
Adrian Perez, a Brown College freshman, said he is interested in observing the space industry’s future developments on the part of both government and private industry.
“Exciting times are soon to come in the space industry, and I'm very excited to know that Houston is an integral component in the upcoming commercial revolution,” Perez said.
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