space industry.docx

space industry.docx - Introduction Space industry started...

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Introduction Space industry started after World War II with the introduction of rockets into the space and then satellites. Space industries are economic activities in relation to manufacturing the space crafts, launched vehicles and satellite, delivering them to earth’s orbit and other related activities such as space tourism. Space economy is therefore constitutes companies which provide space economy by creating products and services related to space. It involves along value added chaining ranging from research and development, manufacturing of space launching hardware and provision of space enabling services and products. In the last decades, there has been a constant rise in the space economy in the United States of America, with a significant rise in the revenue collection especially from the space transport industry. Space industry has three major sectors in relation to value added chain. These sectors play a big role in the rise of space economy. Satellite manufacturing sector is composed of the manufacturing of satellite and their subsystems, support ground system and manufacturing, and launching industries. According to the world satellites industry revenue, between 2002 and 2005, the industrial satellite revenue remained at 35-36 billion USD level (Jolly and Razy, 48). Through the production of reliable and quality launch vehicles, this industry has fostered and sustained the growth of satellite applications which in turn have led to the growth of market for space economy products and services.
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