Growth of a New Market: Innovation in Space Industry
| Authors | |
|---|---|
| Year of publication | 2017 |
| Type | Article in Proceedings |
| Conference | Proceedings of the International Scientific Conference of Business Economics, Management and Marketing ISCOBEMM 2017 |
| MU Faculty or unit | |
| Citation | |
| Web | https://iscobemm.com/wp-content/uploads/ISCOBEMM-2017-Conference-Proceedings.pdf |
| Field | Economy |
| Keywords | space industry; spaceX; innovation; reusability |
| Description | Most of the economists consider transportation services to be linked to trains, trucks, planes or freighters. They neglect an important mean of transportation, without which we cannot imagine present world, space industry. Aim of this paper is therefore to characterize a specific market, which is heavily regulated. Focus is set on Space Launch Industry, which use heavy rocketry to send satellites and other cargo to space. This paper contains a case study of a relatively new company in this industry, Space Exploration Technologies Corporation, better known as SpaceX, which substantially invested in reusability of their rockets. This innovation, when fully implemented, should drastically cut launch costs for their customers and be a game-changer of this market full of monopolistic government contractors. |