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Industry Landscape
The aerospace and space industry is experiencing rapid innovation, driven by government agencies like NASA and the emergence of private companies. Key trends include commercial spaceflight, satellite internet, and increased international collaboration. Research in areas like sustainable aviation and advanced materials continues to push boundaries, making it a dynamic and growth-oriented sector.
Total Assets Under Management (AUM)
Government budget for space activities in United States
~Around $26 billion (NASA's FY2023 budget request)
(Approximately 7-8% CAGR)
- Increased funding for Artemis program.
- Support for Earth science missions.
- Investments in aeronautics research and commercial partnerships.
Total Addressable Market
Over 400 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
In-Situ Resource Utilization (ISRU)
ISRU involves using local resources on celestial bodies (like water ice on the Moon or Mars) to produce consumables such as propellant, breathable air, and building materials, reducing reliance on Earth-supplied provisions for long-duration missions.
Advanced Propulsion Systems
This includes technologies like nuclear thermal propulsion (NTP) and electric propulsion systems, offering significantly faster and more efficient travel for deep space missions compared to traditional chemical rockets.
AI and Autonomous Systems in Space
Artificial intelligence and machine learning are being integrated into spacecraft for autonomous navigation, fault detection, scientific data analysis, and robotic operations, enabling missions to operate more independently and efficiently.
Impactful Policy Frameworks
National Cislunar Science & Technology Strategy (2022)
Released by the White House, this strategy outlines key goals and priorities for US activities in the region between Earth and the Moon (cislunar space), emphasizing scientific discovery, security, and economic development.
This policy directly impacts NASA by directing its focus and resources towards cislunar space activities, influencing mission planning and partnership strategies.
Space Policy Directive-7 (SPD-7) (2022)
Signed by President Biden, SPD-7 updates the National Space-Based Positioning, Navigation, and Timing (PNT) Policy, ensuring the resilience and cybersecurity of GPS and other PNT services.
This directive impacts NASA's reliance on and contribution to PNT systems, potentially leading to new research and development in secure and resilient navigation technologies for space and Earth applications.
Artemis Accords (ongoing, initiated 2020)
The Artemis Accords are a series of non-binding multilateral agreements between the United States and other nations, establishing a common set of principles for cooperation in the civil exploration and peaceful use of the Moon, Mars, and beyond.
While not a domestic regulation, the Accords significantly influence NASA's international collaborations for lunar exploration, setting norms for responsible behavior in space and shaping future partnerships for large-scale missions.
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