Essay On Space Economy

Introduction: The population density of the world is 57.376 people per square kilometer of the earth’s surface (). This includes all of the world’s oceans and Antarctica, which are uninhabitable. Additionally, climate change and diminishing natural resources are putting increased strain on the world economies. A clear solution to the problems is space exploration. While still in the explorative stage, making the step to colonization has massive implications. Currently, most work in the space sector is done by government organizations at extreme monetary expense. Tensions are rising between governments, which could signify an impending space war. Furthermore, the limits of Earth-based resources are already being felt, while abundant resources

If space companies can start to expand beyond the government subsidies to earned revenue as well, space exploration will begin to develop at a rate far beyond the current crawl. There are a variety of sources for potential revenue that can be exploited. Bryan Palaszewski, NASA researcher at the Glenn Research Center, states that the two kilometer M- Class asteroid has a total value of twenty-five trillion dollars. The platinum group metals on the asteroid alone have about nine trillion dollars in value, more than four-hundred times the NASA budget (). The revenue generated by harvesting precious metals in space would stimulate increased interest by the private sector and result in more missions and tests. However, the task of stopping an asteroid is currently beyond the capabilities of humanity's space programs, so a more manageable target is necessary to supply early ventures. The Moon could serve as an excellent stepping stone to other celestial bodies due to its proximity to earth and abundant resources. The moon contains many valuable resources, including platinum and helium. Additionally, the Moon contains water, an invaluable resource for harboring human colonies or creating industry outside of Earth. The Moon has the potential to generate the first space-based profits, which will develop the space sector and accelerate technological growth to give the capability of tapping other resources, such as asteroids. Making space profitable will draw private sector interest, and that interest will blossom into a new era of