Why fund space exploration

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Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Space exploration has long been an endeavor many argue should be public sector domain. Not only is space exploration expensive, the uncertain economic returns are anathema to profit-seeking companies.

In addition, critics worry that private sector involvement in space will sully pure science and lead to unrestrained land-grabs that will be difficult to adjudicate in terrestrial courtrooms. Nevertheless, private sector involvement in space is a reality, and has been since the dawn of space exploration. That said, it does seem we are on the cusp of serious private investment in space.

NASA relies on commercial missions to resupply its assets in space. Once the Domain of Giants Investors have always been able to get some amount of exposure to outer space, but never to a meaningful extent.

Moreover, this revenue is often tied to military projects, and it can be difficult to discern "space revenue" from "defense revenue. The launch represented the first time that the U. It also represents an important milestone for the relationship between private enterprise and the U. Yet, the most significant short- and medium-term opportunities may come from satellite broadband Internet access.

Launching satellites that offer broadband Internet service will help to drive down the cost of data, just as demand for that data explodes. While reusable rockets will help drive those costs down, so too will the mass-production of satellites and the maturation of satellite technology. Beyond the opportunities generated by satellite broadband Internet, the new frontiers in rocketry offer some tantalizing possibilities. Packages today delivered by airplane or truck could be delivered more quickly by rocket.

Perhaps private space travel could become commercially available. Startups like Planetary Resources want to mine asteroids instead of Earth, which would mean an effectively unlimited supply of raw materials that are rare on Earth. Exploring space is an opportunity not only to discover new worlds and build advanced technologies, but to work together toward a larger goal irrespective of nationality, race, or gender.

If we stop exploring, we stop being human. This site may earn affiliate commissions from the links on this page. Terms of use. Public opinion research has shown that people estimate NASA to take up as much as a quarter of the U.

In this chart, shades of blue represent mandatory spending programs; shades of orange are discretionary programs that require annual appropriations by Congress. We get the same kind of payoff for space spending in other countries.

Spending on space supports highly skilled jobs, fuels technology advancements with practical applications, and creates business opportunities that feed back into the economy.

When people apply themselves to the challenges of exploring space, they make discoveries that can help the world in other ways too.