The Final Frontier: The Economics and Geopolitics of Space Exploration

“Space: the final frontier,” or so the famous Star Trek introduction goes. Mankind’s drive to answer the countless challenges related to space exploration has accelerated technological advancements and led to the creation of new industries throughout the years.

More than this, the continued space race among countries also presents significant economic and geopolitical impacts. It functions as an avenue for symbolic displays of national power and substantial returns on investments.

In February of this year alone, there was a fleet of missions that landed on Mars after launching from Earth in July 2020, when the two planets lined up along their respective orbits around the Sun. All of these missions also bring with them a series of firsts.

The first to land was the United Arab Emirates (UAE) Space Agency’s Hope Orbiter on February 9, which also marks their first attempt into deep space. It will serve to survey the planet from orbit, hoping to present new industry opportunities and ideas for the UAE as it slowly moves away from oil dependence.

The China National Space Administration’s (CNSA) Tianwen-1 spacecraft followed on February 10, which is set to be the first probe to accomplish three significant goals in one mission. These are the observation of Mars from orbit and the deployment of both a lander and rover.

Last to arrive was the United States National Aeronautics and Space Administration’s (NASA) Perseverance rover, nicknamed Percy, which landed on February 18 on the Jezero Crater. Its primary task is to find signs of ancient life and return regolith back to Earth.

Aboard Percy is a small helicopter named Ingenuity, set to attempt the first powered and controlled flight on another planet scheduled to happen not earlier than April 11, 2021. The success of this feat will be similar to the Wright brothers’ achievement in 1903.

While space technology has become increasingly easy to access, “It’s really important that NASA and the US continue to lead in space exploration, continue to do these civilization-first type missions,” said NASA’s acting administrator Steve Jurczyk.

The new fundamentals of the space race have shifted from the “first-of-a-kind tricks” to exploiting and commanding the long-term economic potential beyond Earth.

“Today, the context of space is much more about the economic returns,” said Namrata Goswami, an independent space policy analyst.

“Countries like China are investing in space technologies like 3D printing, advanced robotics, and AI given their rationale of trillions of dollars of resources waiting on the Moon and asteroids to be harvested. The idea is not just showcasing space technology for its own sake, but towards a long-term strategic purpose,” she added.

The U.S. and similar spacefaring countries have to adapt to this drastic shift or they risk being left behind in the space dust.

“US goals in space are not even one-thousandth as ambitious as what the Chinese have articulated,” said Peter Garretson, a retired US Air Force officer and writer on space policy and strategy. He further detailed Beijing’s plans to outstrip the U.S. as a space power by 2045, which include a new space station, a moon colony, and technology to capture solar power in orbit.

For small, wealthy countries like the UAE and Luxembourg, also a satellite pioneer, this is a great opportunity for them to “be mediators and craft a new global consensus,” Garretson argues. Helping to magnify their roles in global affairs while attracting financial activity and enabling access to technologies necessary for space travel.

Various countries have exhibited a fresh or renewed interest in the gains that space programs present. Suffice it to say, national space investments have been bolstered. The Philippines, for instance, recently founded its own Philippine Space Agency on August 8, 2019.

In fact, even the private sector has been trying to find its own position within the space industry as evidenced by Elon Musk’s SpaceX. Musk has optimistically nudged the idea of space tourism as a possible business venture.

While there’s still a long way to go before space colonies pop up and interplanetary travel becomes a luxury, at the end of the day, space exploration has become more than just a platform for scientific advancement but an important, even necessary, path towards economic development.

References: Quartz, The Verge, NASA