Question: The involvement of private entities will play a major role in future space studies and also reap its commercial benefits. Elaborate.
Answer: Many private companies have started testing their space travel module and technology for future private missions. These developments come after restrictions on private participation were removed to facilitate development of new technology.
- Space tourism
Private entities can start space tourism, which has enormous potential to generate revenue for further investments in scientific studies.
- Low cost travel
As new participants enter the market, competition starts taking place. This will lead to evolution of new low-cost travelling for enthusiasts.
- Short notice trips
Currently, a space trip will need months together for planning and execution. With private players, a short notice urgent trip can be conducted.
Benefits for future space studies
- Focus on deep space studies
Agencies like NASA can focus on deep space missions as private players can look into ferrying astronauts into space or launching satellites at a fraction of cost.
- Increase private research
Private researchers can involve themselves in space studies. This was not possible earlier due to monopoly of national space agencies.
- Space junk
As more participants enter space sector many problems can arise. Major among them is increase of space junk due to lack of regulations.
- Over crowding
If the sector sees more participants there will be overcrowding for leisure space trips. In such a situation, scientific studies will take a back seat.
Thus, private participation is indeed a very good move to commercialize space sector. However, there has to be certain rules and regulations to maintain sanity.