The Space Industry of the Future Capitalism and Sustainability in Outer Space

The Space Industry of the Future consists of the first instance of guidance for the space industry on how value creation in space can occur for the greater benefit of humanity using principles of capitalism and sustainability. The timing of this book is ideal given (1) sustainability challenges facing humanity and (2) that the growth of the commercial space economy is now occurring at a rate never seen before. This book presents an opportune guide written for technical, business, and policy practitioners alike that frames how this industry growth should occur from an integrated values and commercial perspective. This perspective is presented in the context of the modern technical capabilities of space systems relative to the world’s greatest problems. The guidance contained in this book for the growing commercial space industry includes considerations beyond profit seeking alone. This guidance is founded on a bespoke value creation criteria to apply in the context of for-profit outer space activities that, if used, will result in the maximum value creation that a company is capable of. The criteria are developed and presented through a rigorous discussion on capitalism, economics, value theory, the circular economy, stakeholder management, and ethics. The value creation criteria are then discussed at length in relation to the space industry. The primary audience for this book is practitioners within the space industry; this includes investors, business managers, policy makers, engineers, and scientists. The secondary audience includes students and researchers, as well as a growing range of parties interested in space policy and entrepreneurship.

Preface Introduction Unique Value from Space Systems Space Industry Commercialization: A Brief Introduction The Space Industry Today What Should be Done in Space? Capitalism Today Capitalism + Space: Next Steps Look Ahead Capitalism Capitalism: The Basics History of Capitalism Merchant Trade Caravans Industrialization Shareholder Primacy History of Capitalism: Reflecting on the Space Industry Externalization The Future of Capitalism Building Momentum Business as a Solution Stakeholder Management Circular Economy Value Creation History of Value Theory Building on Multiple Value Perspectives Intrinsic Value Intrinsic vs. Instrumental Goodness Intrinsic Value in Practice Stakeholder Intrinsic Value Degrees of Stakeholder Intrinsic Value Role of Profitability and Stakeholders Stakeholder Intrinsic Value: Defined Stakeholder Intrinsic Value Creation in Space Remote Sensing, Telecommunications, and GNSS for Value Creation Increasing Value Creation in Space Spin-off Technology Commercialization of Space Systems Government vs. Commercial Commercialization Criteria Excludability and Rivalry of Space Industry Activities Commercialization of Mir, the Space Shuttle, and the International Space Station Commercialization (or not) of Remote Sensing Data Commercialization of Meteorological Data Commercialization of Climate Data Remote Sensing Commercialization Case Study: Landsat Commercialization of Remote Sensing Data: Summary Commercialization of Telecommunications Data Commercialization of Space Systems: Closing Remarks Sustainability in the Space Industry Defining Sustainability for the Space Industry Sustainability of Space Industry Activities on Earth Space Hardware Production Environmental Impacts: An Overview Life Cycle Assessment Overview Life Cycle Assessments in the Space Industry Environmental Impacts from the Space Industry Sustainability of Space Industry Activities on Earth: Summary Sustainability of Space Industry Activities in Orbit More Spacecraft Than Ever Space Debris: The Problem Space Debris: Mitigations Other Space Debris Mitigation Approaches Radiofrequency Allocation Sustainability of Space Industry Activities in Orbit: Summary Sustainability Solutions for Humanity Supported by the Space Industry UN Sustainable Development Goals: Introduction SDGs and Stakeholder Intrinsic Value SDG 1: No Poverty SDG 2: Zero-Hunger SDG 3: Good Health and Well Being SDG 4: Quality Education SDG 5: Gender Equality SDG 6: Clean Water and Sanitation SDG 7: Affordable and Clean Energy SDG 8: Decent Work and Economic Growth SDG 9: Industry, Innovation and Infrastructure SDG 10: Reduced Inequalities SDG 11: Sustainable Cities and Communities SDG 12: Responsible Consumption and Production SDG 13: Climate Action SDG 14: Life Below Water SDG 15: Life on Land SDG 16: Peace, Justice, and Strong Institutions SDG 17: Partnerships The Business of Human Space Exploration Why Should Humans go to Space? Space Tourism Space Resources Deep Space Cargo and Telecommunications Services Commercial Human Space Exploration? Stakeholder Intrinsic Value Criteria in Deep Space Harmony of the Space Economy in Deep Space Space Environments with Instrumental Value Space Environments with the Potential for Life Space Environments Devoid of Life and Instrumental Value Space Environments Devoid of Everything Deep Space Sustainability: In Conclusion Maximum Value Creation in Space: Some Answers Conclusions Achieving Maximum Value Creation in the Space Industry: A Recap Closing Remarks Bibliography

Mark W. McElroy Jr works as a technical manager in commercial satellite propulsion projects. Previously, he worked as an engineer at NASA for nine years. In his initial years at NASA, Dr. McElroy obtained a PhD in Aerospace Engineering and performed research on aerospace composite structures. Later, he became involved in technical management within the Artemis campaign to send humans to the Moon and Mars. Dr. McElroy’s roles in the Artemis campaign included system management in the Orion exploration vehicle program, technical consulting in the next generation space suit program, and serving as the Assistant Chief Engineer in the Gateway lunar space station program. Through Dr. McElroy’s tenure at NASA, he has gained a broad exposure to the space industry in both the United States and Europe offering a thorough vantage point on how a diverse set of modern space companies operate, manage projects, innovate, and create value. Prior to his time working in the space industry, Dr. McElroy was a structural engineer in the naval shipbuilding and gas turbine industries.