Evolve

Commercialization of space travel

 Let’s go to the mall or maybe moon? 

Space has always been one mystery. Humans strive to know things that they don’t. When this curiosity adds up to tourism, commercialization of space travel is the last thing you’d imagine. Turns out space is not just for astronomers. With the advent of commercialization of space travel, normal people can visit the space like any other tourist vista. However, it is still an unaccomplished idea.

Commercialization of space travel | TechVire
Commercialization of space travel | TechVire

Hurdles in for the commercialization of space travel:

  1.  Shortage of investments: – Space travel is a bleeding edge technology. It comes with a risk of failure too. This business of space travel takes a little while to return the investments back to the industrialists. Due to these facts, the number of investors in this field is quite a few. Although organizations like Space X of Elon Musk is doing great in this field still it is not enough to commercialize space travel. And more investors might come due to it’s rising popularity.
  2. Lack of insurance policies: – As mentioned earlier space travel is fairly new technology. It causes the lack of desired insurance policies for the investors. In case of any industrial investment, insurance is the first thing any investor looks for. This increases the risk and entrepreneurs with new startups are not ready to take any.
  3. Deficiency of self-financing market: – Failure of creating self-financing markets on a commercial level through the past space projects have left a bad influence on this one too. For example, the commercialization of satellite business was supposed to be free from any government involvement by now but it is still under influence. Although the scenarios are changing with a more awake population. The private sectors are trying to hold up this line of work at a commercial level.

Despite these liabilities commercialization of space travel is booming industry to which many people are looking forward, making their childhood dream of levitating at zero gravity true!

Leave a Reply

Your email address will not be published. Required fields are marked *