The Economics of Space Exploration: Profit or Passion?

As a kid, I assumed I could touch the stars if I was on the highest building in my city.  I thought stars looked just like how we drew them as kids, a five-pointed figure, with sharp-pointed edges, a pair of eyes and a smile. I assumed they were fairies. I never thought there was more boring nonsense to them (gravity, radiation, universe, outer space) than magic and mystery. And I was happier when I thought of them as fairies and not a hot ball of gas. 

Science was never my favourite subject, I hated it, to say the least. But outer space, going beyond always fascinated me. My hatred for science did throw water on my "Outer-space" phase, but that doesn't stop me from writing about it. Let's talk about space exploration. Millions of people are space enthusiasts, but how many get to live this dream? Are they truly passionate or just in it for the money?  

Key players and trends 

• NASA—At some point, everyone wanted to be an astronaut, and NASA was the goal. NASA has always been the first name that came up when the topic of space exploration came up. Some might think it's the key player when it comes to space exploration, but it's not.
• SpaceX- Elon Musk's SpaceX, is now the leading space station in the world. The company is now valued at $180 billion and focuses mainly on space exploration and aerospace technology development.
• Current Space Trends- space robotics, use of AI in space exploration, Satellites, etc.

Profit-Driven Ventures in Space Exploration

• Space Tourism- As companies are now developing tremendously, they soon plan on introducing commercial flights for civilians, which has dual benefits which are profit and public engagement.
• Cost Reduction and Reusability-Innovations such as reusable rockets have cut launch costs by a landslide. For example, SpaceX’s Falcon 9 has made space launches more affordable, opening up new markets like small satellite deployments and frequent resupply missions for space stations.
• Commercial Satellite Markets- The immense growth of satellite technology, including broadband internet constellations (eg.Starlink), has transformed space into an arena for data services, telecommunications, and global connectivity, promising major returns on investment.

Passion as the Driving Force

Is passion really a driving force for space exploration? Maybe it was in the start when people just started to realise space and wanted to explore and learn about it. Though it doesn't seem like a passion project anymore, it sure has benefits for the world. Now, it is more like a profit-driven passion project, supported by ambitious visionaries like Elon Musk, who aim to explore the cosmos. Amidst the scientific facts and advancing technology I hope they still see the magic of exploration--and even find the "fairies" I dreamt about as a kid.

Conclusion

Over the years our knowledge of space has diversified. Though we are nowhere close to finding out the "secrets" of the universe, but now we're closer than ever.

Though now space exploration can't be classified as either a passion or a profit-driven activity, It is a blend of both. Ambitious leaders and innovative companies have not only pushed the boundaries of science and technology but have also improved our daily lives. Whether driven by genuine curiosity or by profit, the journey into space continues to captivate and transform us.