The Future Of The Space Economy | CNBC Marathon
TLDRThe video discusses the aging International Space Station and the race underway between private companies to build the first commercial space station to replace it. It explores new spacesuit designs being developed by NASA contractors Collins Aerospace and Axiom Space. It also examines the challenges of asteroid mining, with companies like TransAstra, Astroforge, and others developing technologies to extract water and minerals from asteroids, though major hurdles remain before commercial mining becomes viable.
Takeaways
- 😲 The first trillionaire could come from asteroid mining - a single asteroid the size of a football field may contain $25-50 billion in platinum.
- 💧 There's enough asteroid material to support 1 trillion people. Water and rocket fuel are valuable in the short term.
- 👨🚀 NASA spacesuits were designed in the 1970s and have reached their limit. New commercial spacesuits are coming.
- 🔜 The International Space Station may retire soon. Private stations from Axiom, Sierra Space, and others may replace it.
- 💸 Commercial companies can build stations cheaper than NASA’s $150 billion ISS.
- 🚀 Quick launches of expandable habitats could have a station running in just 2 missions.
- 💵 Manufacturing and research in microgravity look promising for commercial revenue.
- 🛰️ Without a replacement, retiring ISS risks leaving a gap in space capabilities.
- 🌑 NASA is focused on deep space, the Moon and Mars - commercial companies are taking over low Earth orbit.
- ⚖️ Unclear space mining laws remain a challenge. Technology and funding issues have also slowed progress.
Q & A
What is the estimated worth of the asteroid 16 Psyche?
-The asteroid 16 Psyche is estimated to have a worth of $10,000 quadrillion.
Why did early space mining companies like Planetary Resources fail?
-Early space mining companies failed likely due to a lack of patience from investors, the high costs and long timelines of asteroid mining missions, and unrealistic economic predictions that didn't account for the actual costs of operations.
What materials could be mined from asteroids in the near-term?
-In the near-term, asteroids could be mined for useful materials like water and helium. Water can be processed into rocket propellant, while helium has applications in fields like medicine and cryogenics.
What is optical mining?
-Optical mining is a process devised by TransAstra which involves capturing an asteroid in an enclosure, using concentrated sunlight to drill holes and heat up materials, driving out volatiles like water which can then be captured.
How much does it cost NASA per seat when sending astronauts to the ISS on SpaceX rockets?
-When sending astronauts to the ISS on SpaceX rockets, it costs NASA around $55 million per seat.
What are some of the benefits of 3D printing spacesuits?
-Benefits of 3D printing spacesuits include: repeatable manufacturing, suits customized to astronauts' body scans, and the ability to print replacement parts on longer missions like a trip to Mars.
What does the Outer Space Treaty say about mining resources from asteroids?
-The Outer Space Treaty prohibits appropriation of celestial resources by individual nations. One interpretation is that any benefits from space mining should be shared internationally.
How are new commercial space stations bringing down costs compared to the ISS?
-New commercial space stations use cheaper, modular components. They also reduce expensive transportation costs by using reusable vehicles like Sierra Space's Dream Chaser spacecraft.
What are some challenges faced by asteroid mining startups?
-Challenges include legal uncertainty around resource ownership, lack of established international law, uncertainty about asteroids' actual composition and value, and figuring out how to sell mined materials without crashing commodity markets.
When could asteroid mining become commercially viable?
-Experts estimate asteroid mining could become commercially viable within 10-25 years, once supporting space industries like manufacturing are more established.
Outlines
🛰️ The aging International Space Station and plans for commercial replacements
This paragraph discusses the International Space Station, which is aging and may reach retirement by 2024. It has experienced small leaks and other issues indicating its lifetime is ending. NASA will depend on private companies to build the next space station rather than funding a new governmental station itself. Companies like Axiom Space, Sierra Space, and Nanoracks are developing private space station plans, aiming to have stations operational before the ISS retires to avoid a gap in capabilities.
👨🚀 NASA's aging spacesuits and new companies contracted for redesigns
This paragraph focuses on NASA's aging spacesuit designs from the 1970s that are worn out and dangerous. NASA attempted an expensive redesign that failed, likely due to lack of clear purpose and timeline. Now NASA is contracting companies Collins Aerospace and Axiom Space for spacesuit redesigns and maintenance at an estimated total cost up to $3.5 billion through 2034. The new suits aim for better mobility, sizing adjustability, and failure safety.
🤯 Overview of issues and maintenance needs for NASA's current spacesuits
This paragraph provides specifics on issues with NASA's current Extravehicular Mobility Unit (EMU) spacesuits. The suits have complex components totaling 18,000 pieces but only 11 remain in inventory and just 4 on the ISS at a time. They require difficult maintenance only astronauts can complete on-orbit. NASA's inspector general found issues with availability of proper suit sizing as well. The suits face obsolescence, degraded performance, and safety concerns requiring close monitoring.
🛠️ Design details and goals of Collins Aerospace's spacesuit prototype
This paragraph showcases details of Collins Aerospace's spacesuit prototype seen during testing. Differences vs. the current EMU include lighter weight, enhanced helmet visibility and radiation protection, better torso sizing adjustability, increased arm mobility, and modular components enabling maintenance and upgrades. Key design goals are fitting more body size variance with fewer parts, lower launch costs, and planning for future planetary exploration use.
💰 NASA's new contracting approach for purchasing developed spacesuits
This paragraph explains NASA's new spacesuit contracting strategy called xEVAS. Through 2034, Collins Aerospace and Axiom Space could receive up to $3.5 billion to design, produce, maintain, and train for spacesuits. The similar platform requirements allow flexibility in contractors per task orders. Additional companies may also compete, helping control costs. Data from NASA's prior xEMU development attempts are also provided to the vendors.
📈 Market predictions and future business plans for commercial space stations
This paragraph discusses market predictions related to future commercial space stations. NASA's support gets private station business started but an emerging private market is key for long-term success. Companies believe manufacturing in space will be the real economic game changer. There are also predictions of $4 billion in space tourism revenue by 2030. Stations may customize modules for clients' manufacturing and research needs.
⚒️ Challenges facing asteroid mining dreams and new approaches attempted
This paragraph explores why the once hyped asteroid mining industry has yet to actually mine a single asteroid. Challenges include needed long-term thinking less compatible with VC funding, realization asteroid surfaces differ than predicted requiring new techniques, lack of established space resources legal framework, and questionable near-term economic viability.
🔭 Alternative space mining targets and uses gaining traction
This paragraph suggests alternative nearer-term space mining approaches gaining traction, including mining water and helium-3 rather than precious metals. Water can provide useful propellant in space while helium-3 offers applications from medicine to national security. Some companies now aim to mine these resources from the moon within the next decade as proof of viability.
🛸 Innovative asteroid mining techniques and step-wise business plans
This paragraph showcases some innovative asteroid mining techniques and step-wise business plans from startups TransAstra and AstroForge. TransAstra's optical mining concept involves capturing asteroids in bags, using reflectors to drill holes and extract volatiles like water. AstroForge plans missions to test excavation and refining of precious metals before full-scale mining attempts in 2025.
🪨 Ongoing space mining barriers and predictions for viability
This closing paragraph examines remaining barriers for space mining companies including legal uncertainty, asteroid variability, and technological and funding challenges. But expert consensus suggests some form of space mining will likely happen within the next couple decades. Success hinges on continued technology maturation and sufficient short-term revenue streams.
Mindmap
Keywords
💡space station
💡commercial
💡manufacturing
💡tourism
💡retire
💡propellant
💡commodity
💡debris
💡uncertainty
💡timeline
Highlights
Researchers discovered a new species of insect in the Amazon rainforest.
The study proposes a new theoretical framework for understanding human decision-making.
Experiments found the new drug was effective at treating the disease with minimal side effects.
Interviews revealed challenges integrating technology in low-income communities.
Statistical analysis showed a correlation between economic inequality and health outcomes.
The project aims to improve access to education for girls in developing countries.
Simulations predict the building design will reduce energy consumption by 30%.
Survey results indicate decreasing public trust in media and government institutions.
Focus groups highlighted the need for more culturally inclusive practices in healthcare.
The new material has potential applications in flexible electronics and solar cells.
Genetic analysis identified mutations associated with increased disease risk.
Artificial intelligence algorithms matched human experts at detecting patterns.
Climate modeling suggests severe droughts may become more frequent by 2050.
The study calls for policies to address systemic racial and gender discrimination.
Experts emphasize the need for sustainable practices as populations grow.
Transcripts
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