For those who have the means and the brains to create their own satellites, 'Rocket Lab' is enabling them to be sent into orbit. A system is currently being built that acts as a reservation site to book a seat into space for a small personal satellite.
These satellites are called CubeSats,' and are described as tiny, lightweight satellites that are communication or exploration-based. They will be flown up in Electron rockets and dropped off at an orbiting route and height that is chosen by travelers upon booking.
Realistically, the target market using Rocket Lab's service will include companies or universities that can afford to pay $20,000 to $50,000 rates. Though not a single practice launch has taken place yet, there are already over 50 projects waiting to be launched according to NASA.
Personal Space Satellites
New Zealand's 'Rocket Lab' Lets Travelers Book a Seat to Space
Trend Themes
1. Personal Cubesatellites - Emerging trend of booking a ticket to launch a personal communication or exploration-based CubeSatellite opens opportunities to Microsatellite manufacturers.
2. Electron Rockets - The new space race by private companies to develop commercial grade Electron Rockets can be a disruptive innovation opportunity for upcoming propulsion system manufacturers.
3. Satellite Reservation Sites - The development of reservation sites for booking a seat to launch the CubeSat can be a disruptive innovation opportunity for upcoming space tourism industry.
Industry Implications
1. Microsatellite Manufacturing - Rocket Lab's personal CubeSatellite is a new trend that provides an opportunity for microsatellite manufacturers to explore new markets.
2. Propulsion System Manufacturing - Rocket Lab's innovative Electron Rockets can be an opportunity for propulsion system manufacturers to explore new business markets in the future.
3. Space Tourism - The development of reservation sites for booking a seat to launch the Cube Sat can be a disruptive innovation opportunity for the space tourism industry.