Building an Economy in Space

Roughly 250 miles above our planet and hurtling at speeds that allow it to travel five miles in just one second, the International Space Station (ISS) is on a mission. It's been the only constant passenger vehicle traveling along a one-lane path for more than two decades. While it has expanded our world in terms of research, technology development, and our understanding of the universe, it has also reminded us how limited access to space can be. But, as we look toward the future, we can see this one small destination among the stars growing into a galactic marketplace, booming with businesses and patrons — and it’s already beginning.

Building a robust economy in low-Earth orbit (LEO) has many advantages, including opportunities to improve lives on Earth. Research indicates that removing the force of gravity from materials-development processes might result in higher-quality end products with fewer defects, making them more effective than if they were made on Earth.

The microgravity environment of space is particularly advantageous to the medical field, specifically to companies developing delicate products such as artificial tissues, which have benefits for all humanity. LambdaVision and Space Tango, two of several companies NASA has chosen to help propel industry into space, are working together to explore the benefits microgravity might have on the production of artificial retinas, including reduced materials, lower costs, and accelerated production. If successful, these products can be transported back to Earth and used to restore the vision of patients with degenerative eye diseases, such as advanced retinitis pigmentosa or age-related macular degeneration, the leading cause of blindness in adults over 55 years old.

NASA’s vision for the future is to see commercial space stations replace the ISS in low-Earth orbit. This will allow NASA to focus on deep space exploration while continuing to have access to an LEO research platform. One of the first businesses moving forward with this mission is Axiom Space, a company that is aiming to develop a new commercial segment attached to the ISS. The company has announced plans to deliver new missions of private citizen astronauts to the orbital outpost, too. Once the Axiom Segment is built out, it will eventually separate from the ISS and become its own destination.

In addition to manufacturing, new businesses in space could prove beneficial for entertainment industries, potentially becoming a hub for film production — or even microgravity sporting events. Marketing and sponsorship opportunities could also be available, as well as in-space assembly, the servicing of large structures and satellites, and transportation of people and cargo to and from LEO for space tourism.

“In the long-term vision, you’d have a lot of places to go with multiple, free-flying, commercially owned platforms,” said Marybeth Edeen, manager of the ISS Research Integration Office. “Think of it like going to the mall. You’d have the big manufacturing group, the little boutique cell-science place; you’d have the stadium full of visitors for whatever sport you eventually get going in microgravity; you’d have tourist hotels. That’s a log way off … but, in the meantime, some of our commercial partners are starting to learn how to live, work, and operate in low-Earth orbit.”

With the help of commercial partners, NASA will be able to become a customer in this microgravity market. Part of NASA’s goal in aiding the establishment of an LEO economy is to gain the ability to pass off some production and research responsibilities to the private sector, allowing the agency to purchase goods and services that will propel future missions into deep space. The road ahead will be challenging, but there is a new era of human exploration at the end.

“We’re trying to move at the speed of industry,” said Mike Read, manager for ISS Business and Economic Development. “We want to create an environment that industry can be successful in.”

A stunning view of Earth from the International Space Station. Credits: NASA