When talking about the Space Race, we are usually referring to the competition between the US and the Soviet Union during the Cold War. Nowadays, we are living through a current-day Space Race, and this time, the competition is much fiercer, and has more participants. Amazon’s Jeff Bezos, Tesla’s Elon Musk and Virgin Galactic’s Sir Richard Branson are the biggest players competing in today’s race, but they are not the only ones.
Space agencies from around the world have joined the race as well, each making progress in space exploration. China operates one of the most advanced space programs in the world, and the China National Space Administration is the only space agency other than NASA and the Russian Federal Space Agency to have developed spacecraft capable of sending humans to space. In India, the Prime Minister recently announced the country was opening up its space activities to private companies, in an effort to advance its capabilities in the sector. Australia is also participating in the race, and is currently developing a rover that is scheduled to go to the moon in 2026 under a deal with NASA.
Virgin Galactic, SpaceX and Blue Origin: The new players disrupting the space race
Space travel is not just a national or military mission; it also requires the participation of public or privately held companies. Some of these companies manufacture different parts used by space agencies, while others try to disrupt space exploration as we know it. Virgin Galactic is one example of the latter. Spun-off of Richard Branson’s Virgin Group, this spaceflight company is developing commercial spacecraft, and is planning to provide space flights to tourists. Virgin Galactic’s most notable accomplishment is being the first independent company to launch a civilian into space. On July 11, 2021, Sir Branson flew 50 miles above the earth, where, according to NASA, outer space begins.
One of Virgin Galactic’s main competitors is Tesla’s Elon Musk and his aerospace company SpaceX. Founded in 2002 with the ambitious goal of enabling the colonisation of Mars, its Falcon 1 was the first privately funded liquid-propellant rocket to reach orbit. That was back in 2008, and since then, SpaceX has gone on to become the first private company to send astronauts to the International Space Station, and has recorded several other notable achievements.
Another billionaire eyeing outer space is Amazon’s Jeff Bezos, who founded Blue Origin back in 2000. In July 2021, Bezos was launched into space aboard a Blue Origin rocket ship. Bezos and Blue Origin have yet to announce any planned commercial passenger flights, but the company’s aim is to make outer space access cheaper through reusable launch vehicles.
The future of space exploration
Although we probably won’t be vacationing on Mars any time soon, the main issue dealt with by current space racers is making space travel cheaper and more accessible. If outer space was a domain held exclusively by governments, the private sector is sinking its teeth into it in an effort to turn trips to space into a leisure activity.
Space stocks that will get you over the moon
Private and public companies have been taking part in the Space Race since the 1960s, mostly under contracts with NASA or other space agencies. Investing in space stocks isn’t rocket science. Other than investing in the aforementioned Virgin Galactic, Tesla, or Amazon, investors might also be interested in the companies that develop and manufacture the different parts needed for space travel and research.
- Boeing has been supporting US space endeavours from very early on, and is currently involved in NASA’s Artemis program, intended to bring humans back to the lunar surface.
- In January, Rolls-Royce signed a contract with the UK Space Agency to conduct a study on nuclear power for space exploration in the hope of revolutionising space travel.
- The Lockheed Martin Corporation builds satellites and spacecraft for government and commercial customers.
- Founded in 1888, Howmet Aerospace manufactures engines, forged wheels, and other instruments for the aerospace and defense industries.
Investing in one of these companies is investing in the future. Space exploration is constantly evolving, and will continue to do so as long as technology keeps advancing. Outer space is closer than ever, and these companies will bring us even further into infinity and beyond.