The Space Industry of the Future : Capitalism and Sustainability in Outer Space

The Space Industry of the Future consists of the first instance of guidance for the space industry on how value creation in space can occur for the greater benefit of humanity using principles of capitalism and sustainability. The timing of this book is ideal given (1) sustainability challenges facing humanity and (2) that the growth of the commercial space economy is now occurring at a rate never seen before. This book presents an opportune guide written for technical, business, and policy practitioners alike that frames how this industry growth should occur from an integrated values and commercial perspective. This perspective is presented in the context of the modern technical capabilities of space systems relative to the world’s greatest problems.

The guidance contained in this book for the growing commercial space industry includes considerations beyond profit seeking alone. This guidance is founded on a bespoke value creation criteria to apply in the context of for-profit outer space activities that, if used, will result in the maximum value creation that a company is capable of. The criteria are developed and presented through a rigorous discussion on capitalism, economics, value theory, the circular economy, stakeholder management, and ethics. The value creation criteria are then discussed at length in relation to the space industry.

The primary audience for this book is practitioners within the space industry; this includes investors, business managers, policy makers, engineers, and scientists. The secondary audience includes students and researchers, as well as a growing range of parties interested in space policy and entrepreneurship.

 

Table of Contents

Preface

Introduction

Unique Value from Space Systems

Space Industry Commercialization: A Brief Introduction

The Space Industry Today

What Should be Done in Space?

Capitalism Today

Capitalism + Space: Next Steps

Look Ahead

Capitalism

Capitalism: The Basics

History of Capitalism

Merchant Trade Caravans

Industrialization

Shareholder Primacy

History of Capitalism: Reflecting on the Space Industry

Externalization

The Future of Capitalism

Building Momentum

Business as a Solution

Stakeholder Management

Circular Economy

Value Creation

History of Value Theory

Building on Multiple Value Perspectives

Intrinsic Value

Intrinsic vs. Instrumental

Goodness

Intrinsic Value in Practice

Stakeholder Intrinsic Value

Degrees of Stakeholder Intrinsic Value

Role of Profitability and Stakeholders

Stakeholder Intrinsic Value: Defined

Stakeholder Intrinsic Value Creation in Space

Remote Sensing, Telecommunications, and GNSS for Value Creation

Increasing Value Creation in Space

Spin-off Technology

Commercialization of Space Systems

Government vs. Commercial

Commercialization Criteria

Excludability and Rivalry of Space Industry Activities

Commercialization of Mir, the Space Shuttle, and the International Space Station

Commercialization (or not) of Remote Sensing Data

Commercialization of Meteorological Data

Commercialization of Climate Data

Remote Sensing Commercialization Case Study: Landsat

Commercialization of Remote Sensing Data: Summary

Commercialization of Telecommunications Data

Commercialization of Space Systems: Closing Remarks

Sustainability in the Space Industry

Defining Sustainability for the Space Industry

Sustainability of Space Industry Activities on Earth

Space Hardware Production Environmental Impacts: An Overview

Life Cycle Assessment Overview

Life Cycle Assessments in the Space Industry

Environmental Impacts from the Space Industry

Sustainability of Space Industry Activities on Earth: Summary

Sustainability of Space Industry Activities in Orbit

More Spacecraft Than Ever

Space Debris: The Problem

Space Debris: Mitigations

Other Space Debris Mitigation Approaches

Radiofrequency Allocation

Sustainability of Space Industry Activities in Orbit: Summary

Sustainability Solutions for Humanity Supported by the Space Industry

UN Sustainable Development Goals: Introduction

SDGs and Stakeholder Intrinsic Value

SDG 1: No Poverty

SDG 2: Zero-Hunger

SDG 3: Good Health and Well Being

SDG 4: Quality Education

SDG 5: Gender Equality

SDG 6: Clean Water and Sanitation

SDG 7: Affordable and Clean Energy

SDG 8: Decent Work and Economic Growth

SDG 9: Industry, Innovation and Infrastructure

SDG 10: Reduced Inequalities

SDG 11: Sustainable Cities and Communities

SDG 12: Responsible Consumption and Production

SDG 13: Climate Action

SDG 14: Life Below Water

SDG 15: Life on Land

SDG 16: Peace, Justice, and Strong Institutions

SDG 17: Partnerships

The Business of Human Space Exploration

Why Should Humans go to Space?

Space Tourism

Space Resources

Deep Space Cargo and Telecommunications Services

Commercial Human Space Exploration?

Stakeholder Intrinsic Value Criteria in Deep Space

Harmony of the Space Economy in Deep Space

Space Environments with Instrumental Value

Space Environments with the Potential for Life

Space Environments Devoid of Life and Instrumental Value

Space Environments Devoid of Everything

Deep Space Sustainability: In Conclusion

Maximum Value Creation in Space: Some Answers

Conclusions

Achieving Maximum Value Creation in the Space Industry: A Recap

Closing Remarks

Bibliography