The "New Space Economy" refers to the growing commercialization of space exploration, driven by private companies and investment, contrasting with the traditional, government-led "old space" industry. This shift is expected to lead to a significant expansion of the space sector, with projections estimating the global space economy reaching $1.8 trillion by 2035. 

Here's a more detailed breakdown:

Key Characteristics of the New Space Economy:

• Private Sector Dominance:
  Unlike the "old space" era where governments primarily funded space exploration, the new space economy sees a surge in private investment and companies driving innovation and development. 

• NewSpace Companies:
  These are smaller, more agile companies focused on low-cost access to space and spaceflight technologies, in contrast to the large, traditional contractors. 

• Commercialization of Space:
  The focus is shifting from purely scientific or military applications to commercial ventures, such as satellite communications, Earth observation, and space tourism. 

• Downstream Applications:
  The growth is expected to be driven by downstream solutions that leverage space-based assets, such as satellite data for navigation, communications, and Earth observation. 

• Technological Advancements:
  Innovations in rocket technology, satellite manufacturing, and data processing are fueling this growth. 

• Increased Accessibility:
  Lower costs and wider access to space-enabled technologies are expected to reshape industries and have a significant impact on business and society. 

Examples of New Space Companies and Projects:

• SpaceX:
  Known for its cost-effective and reusable rocket technology, SpaceX is a major player in commercial space transportation. 

• Blue Origin:
  Another company focused on space travel and exploration, with plans for both suborbital and orbital flights. 

• OneWeb:
  A company developing a constellation of low-earth orbit (LEO) satellites for global broadband internet access. 

• Space Perspective:
  A company offering space tourism experiences through stratospheric balloon flights. 

• Axiom Space:
  Developing commercial space stations and offering microgravity research opportunities. 

• NASA's Artemis Program:
  A program focused on returning humans to the Moon, with international and commercial partnerships. 

• Intuitive Machines:
  A company that built the lunar lander for the Intuitive Machines 2 mission. 

• Luna Outpost:
  A company that built the rover for the Intuitive Machines 2 mission. 

Economic Impact:

• Projected Growth:
  The global space economy is expected to grow significantly in the coming years, with projections estimating it will reach $1.8 trillion by 2035. 

• Diverse Applications:
  Space-enabled technologies are expected to benefit various industries, including communications, transportation, agriculture, and disaster mitigation. 

• Job Creation:
  The growth of the space economy is expected to create new jobs in manufacturing, technology, and related fields. 

• Investment Opportunities:
  The space sector is attracting significant investment from both public and private sources. 

Challenges and Considerations:

• Space Debris:
  The increasing number of satellites and space missions raises concerns about space debris and the need for sustainable space practices. 

• Space Safety:
  Ensuring the safety of space operations and protecting space assets is crucial for the long-term development of the space economy. 

• Geopolitical Competition:
  The growing importance of space for national security and economic competitiveness could lead to increased geopolitical tensions. 

• Macroeconomic Conditions:
  The space economy, like other sectors, is susceptible to macroeconomic conditions such as inflation and interest rates. 

• Space Weather:
  Understanding and mitigating the effects of space weather on space-based assets is crucial for ensuring the reliability of space-based services. 

Gemini AI Overview of The New Space Economy 4-3-25

March 3, 2025

FUTURE OF BUILDING STARSHIP

In addition to continued infrastructure development at Starbase, Texas, where SpaceX is headquartered, SpaceX is expanding its Starship operations in Florida, bringing Starship production and launch capabilities to the Space Coast. As flight testing and development of Starship continues at Starbase in Texas, SpaceX is building a new integration facility, called Gigabay, next to its HangarX location at NASA’s Kennedy Space Center. Additionally, SpaceX plans to complete the Starship launch pad at Launch Complex 39A (LC-39A) at Kennedy Space Center this year while the Environmental Impact Statements continue for potential Starship flight operations from both LC-39A and Space Launch Complex 37 (SLC-37) at Cape Canaveral Space Force Station (CCSFS).

Expansion of Starship production and launch operations in Florida will enable SpaceX to significantly increase the build and flight rates for Starship, which will be the first rapidly and fully reusable launch vehicle in history. Access to space is a critical and growing need for U.S. national security, leadership in science, the country’s exploration goals, and for the growth of the economy. Starship will ultimately be responsible for sending millions of tons of payload to Mars – building a self-sustaining city to make humanity multiplanetary. 

GIGABAY

The Gigabay in Florida will stand 380 feet tall and provide approximately 46.5 million cubic feet of interior processing space with 815,000 square feet of workspace, including ground level, elevated platform work areas, and a work and meeting space on the top floor. Gigabay will be able to support Starship and Super Heavy vehicles up to 81 meters (266 feet) tall and will provide 24 work cells for integration and refurbishment work, along with cranes capable of lifting up to 400 US tons. Compared to the Megabay facilities in Starbase, currently SpaceX’s largest stacking and integration buildings, Gigabay provides more than 11 times the square-footage for workspace, 19 additional work cells, and more than twice the crane lifting capacity.

Site preparations for Gigabay in Florida have already begun, with construction targeted to be complete and the facility operational by the end of 2026. At the same time, we are also building another Gigabay at Starbase in Texas, next to our Starship Starfactory manufacturing facility. Work on this Gigabay has already begun, and the facility is targeted for completion by the end of 2026.

As we work to complete the Gigabay in Florida, we are also designing and planning for a co-located manufacturing facility, similar to the Starfactory in Texas, to enable production of Starships in Florida. To enable initial Starship flights from Florida while our Space Coast Starship manufacturing, integration, and refurbishment facilities are being completed, we will first transport completed Super Heavy boosters and Starship upper stage ships from Starbase via barge to build up a Starship fleet in Florida. With production, integration, refurbishment, and launch facilities in Florida as well as Texas, we will be in a position to quickly ramp Starship’s launch rate via rapid reusability.

STARSHIP AT THE SPACE COAST

To support initial Starship launches from Florida, SpaceX is building a Starship launch and catch site at LC-39A at Kennedy Space Center. This Starship pad at LC-39A will include learnings from Starship’s first two pads in Starbase. In 2022, we stacked the launch tower at LC-39A. In the coming months, teams will build and install the pad’s deflector system, which provides cooling and sound suppression water during Starship launches and catches. This new deflector will be nearly identical to the one being installed to support the second launch pad at Starbase. Pending completion of environmental reviews, SpaceX intends to conduct Starship's first Florida launch from LC-39A in late 2025.

To support the needed Starship flight rate to make humanity a multiplanetary civilization, which involves not only the launch of cargo and people but also the propellant tankers to enable on-orbit refueling, SpaceX is also interested in enabling Starship launches from SLC-37 at CCSFS. SpaceX has been given a limited Right of Entry for SLC-37 in support of conducting further due diligence of the site in order to move forward with the Environmental Impact Study (EIS), led by the Department of the Air Force, for Starship and Super Heavy Operations at CCSFS. SLC-37 was built in the late 1950s and early 1960s. NASA used the pad from 1964 to 1968 for testing of the Saturn I and Saturn IB rockets as part of the Apollo program. From 2002 to 2024, the pad was used for the Delta IV rocket.

from:  https://www.spacex.com/updates/