NASA Challenged By Private Companies Beginning To Explore Ventures In Outer Space

Space is the final frontier of man. As a result, private companies now want to venture out into Outer Space challenging the claims of NASA as the dominant organization.

Based on CB Insights, since the start of the year, a number of potential investors have committed to fund over $200 million throughout the 20 space-related projects. This is just an additional amount to the previously invested $2.3 billion last year.

Steve Jurvetson, a partner at Draper Fisher Jurvetson, wanted to pursue the 'colonization of space' with the first steps for private companies to venture into the earth's orbit in hopes of greater profits in terms of money and general wisdom.

Together with the other private investors, NASA is experiencing the possible dissolution of its dominance in outer space, which is a good thing for some as this would inspire others that outer space is indeed reachable.

According to Jurvetson, "This is an industry that has been sheltered from competition for decades, and there's an enormous pool of money to be made in launching satellite networks and new rockets. Space now has opened up for commercial activity."

Some of the private companies that plan to continue venturing into outer space are SpaceX that supports NASA's exploration goals; OneWeb, that provides ultra high speed internet through the satellites orbiting in space; and Kymeta, a company that is backed up by Bill Gates to install satellites in hopes of improving connectivity throughout the world.

According to Peter Hebert of Lux Capital, "Silicon Valley has been known to inspire herd-like behavior. We will go from 2 billion people online to 6 billion people online much faster than anyone ever thought because these satellite networks will offer coverage everywhere. It will be one of the biggest economic shifts we've ever seen."

Given all of these latest technological breakthroughs, the world is surely going to experience another space revolution, leaving NASA to exert more efforts if it would want to still be the dominant force in outer space.

If basing on trends, more private companies will surpass NASA and would even possibly be the pioneers of a possible lunar or Martian colonization for us.

© 2021 iTech Post All rights reserved. Do not reproduce without permission.

More from iTechPost