Navigating Today’s Space Economy
The podcast episode, featuring Ron Lopez of Astroscale US, delves into the challenges of space debris and the measures being taken to sustain the burgeoning space economy. Space debris is a critical concern as the industry continues to grow, impacting everything from satellite services to global communications.
This story was produced through MarketScale. See how Sciences teams put it to work with Executive Thought Leadership.
Key takeaways
The space economy is a rapidly expanding trillion-dollar industry.
About 1 million objects between 1cm and 10cms large, and 130 million objects between 1mm to 1cm, are currently floating in space as debris.
Astroscale is developing technology to dock with and extend the lifespan of existing satellites, reducing failure rates.
Ron Lopez, president and managing director Astroscale US, joined host Daniel Litwin on this episode of the MarketScale Sciences Podcast to discuss the growing problem of space debris and what to do about it. The space economy is an expanding trillion-dollar industry, and this mission is to keep that economy healthy. There are many earth-bound services, from GPS to ATM, that rely on satellite technology, which resides in space.
“There’s any number of different services that are space-based that are providing value to our lives here on earth,” Lopez said.
The growth in this economy is due to several factors, including the reduction in the cost of satellite launches, and competing technologies.
With a booming space economy, the concern is how to navigate the rules of space and establish businesses and government protocols. Space flight safety and lower orbit space debris are a couple of critical areas for businesses and companies to focus on, Lopez said.
Defunct satellites and space debris at an altitude of 600 kilometers will come down naturally, but above that threshold, they will remain in orbit for hundreds or thousands of years.
“There are close to 1 million objects between 1cm and 10cms large, and an estimated 130 million objects between 1mm to 1cm, floating in space,” Lopez said. “Governments and businesses need to play a role in cleaning up this debris.”
Launching satellites into lower earth orbit is more cost-efficient than launching them into a higher orbit, which increases the number of satellites in lower orbit, and means the concerns of safety and debris are more significant.
“As a result,” Lopez said, “Astroscale anticipates larger satellite failure rates. Space is big, and accidents are still a low probability, but accidents do happen, and they are high impact events.”
In addition to their space debris-removal services, Astroscale’s developing technology to dock with existing satellites to refuel and service them, which can extend the lifespan of satellites, and reduce failure rates.
For the latest news, videos, and podcasts in the Sciences Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale
About the author
Daniel Litwin is a journalist of multiple disciplines focused on finding and telling engaging stories for B2B communities. He has interviewed executives from Fortune 500 companies including Honeywell, Microsoft, John Deere, and Chipotle, and leads editorial direction at MarketScale. Litwin hosts weekly shows and podcasts while helping develop new content approaches across the MarketScale platform. He holds a B.J. in Radio/Television Reporting/Anchoring and a B.A. in Spanish from the University of Missouri-Columbia.
