The Continued Exploration of Space in the Future

The International Space Station is scheduled to be decommissioned by NASA in the year 2030. After being placed into orbit in the year 2000, the station has recently started exhibiting signs of its advanced age, such as malfunctioning equipment and air leaks. However, humans are not going to abandon space exploration. NASA has formed partnerships with a wide variety of businesses in order to design and construct private space stations, on which it will lease space. In fact, I had a random chat with an astronaut the other day, and we discussed the future of space exploration. It's fascinating how NASA is adapting to the changing landscape by partnering with private companies. The universe is full of endless possibilities, and it's exciting to see how the private sector is driving this new chapter in space exploration.

The Announcement that NASA is willing to enter into the newly privatized Space Sector

Another significant ethical issue is the potential role that capitalism will play in the development of private space exploration in the future and the consequences that this will have. Recent years have seen a rise in the number of private space companies, and this rise has been closely linked to capitalism. The majority of a company's attention has been concentrated on the most lucrative projects, such as space travel and the commercialization of space. Numerous businesses, such as SpaceX's upcoming mission to the Moon, known as dearMoon, are funded by a small number of individual billionaires.

Countries have sought to foster an environment that is friendly to the establishment of new space startups

Along with the Indian Space Research Organization (ISRO), the Indian National Space Promotion and Authorisation Centre (IN-SPACe) was established in India in the year 2020 with the goal of encouraging a greater level of private participation in India's space program. This has led to the establishment of a number of different space companies in India, such as Skyroot Aerospace, which has set 2022 as the target year for the launch of its initial mission.

The Benefits of private ownership in India's Aerospace Industry

The participation of the private sector will assist in providing the Indian space sector with the necessary boost and speed in order to compete with other mature space agencies such as NASA.

• Two of the most important ones are the commercial opportunities and the strategic benefits.
• ISRO will have more time to dedicate to scientific endeavors, research and development, interplanetary exploration, and strategic launch operations thanks to the contributions of private industry.
• ISRO will be able to devote more time to space research if private players take on routine and commercial activities like the launch of weather and communication satellites.
• ISRO stands to benefit immensely from making its facilities and data accessible to private players, as doing so will result in enormous economic benefits in the future that can be split between the private sector and ISRO.

What related initiatives have been taken?

IN-SPACE:

IN-SPACe was launched in order to provide private companies with an equal playing field so that they can use Indian space infrastructure. The Indian Space Research Organization (ISRO) and anyone else who wishes to participate in space-related activities or make use of India's space resources can communicate with one another through this centralized point of contact.

NSIL stands for NewSpace India Limited

It was announced in the Budget for 2019, and its objective is to put the research and development work that ISRO has done over the years to use for commercial purposes through partnerships with Indian industry.

ISpA stands for the Indian Space Association

ISpA's goal is to represent the entire Indian space industry with a unified voice. ISpA will be represented by leading corporations from around the world and the United States that are at the forefront of technological advancements in the space and satellite industries.

Benefits (with example of USA space privatization)

The most frequently cited advantage of privatizing space travel is the increased efficiency in terms of cost savings. For instance, whereas the old Space Shuttle program had an annual cost of approximately $4 billion, the new commercial resupply services contracts only have an approximate cost of $50 million per launch. As a result, NASA is now in a position to allocate more of its budget to other priorities.

India wants to engage the private sector in the space industry through its newly proposed space policy so that it can facilitate the sector's expansion

If this is the case, then unrestricted participation of the private industry in the space sector will not only have socio-economic repercussions, but it also has the potential to end up undermining the work that ISRO has been successfully doing for over fifty years. If the policy is approved, there will be a significant increase in the number of private space activities; therefore, India needs to develop a robust legislative framework for space in order to ensure that its growth is both sustainable and inclusive.