Commercial Space

Introduction

The commercial space region consist of entrepreneurial space companies, emerging market for space capabilities and prime contractors. Space commercialization involves rendering or selling of services such as satellite communications, remote sensing, launching of space objects and the manufacturing, transferring and exchanging of space products for remuneration." Commercial space is divided into different areas which are: launch vehicle manufacturing and services, satellite manufacturing and satellite operation and services. The opportunity of using space to make money by selling goods and services to governments and private customers has become very prevalent in Europe, Nigeria and Russia and is growing rapidly. Government plats a huge and active part in the capitalizing and promoting of commercial space, they carry this role out by creating policies that are regulatory and polices that lead government agencies into purchasing services or hardware from companies.eg. Buying data from remote sensing satellite companies.

“Space has become a global enterprise with the number of nations and firms with space goods and services growing rapidly. And not only are more people involved in space but also the unique advantages of the space environment have contributed greatly to the growing trend toward globalization through its almost universal coverage of populated areas with communications and observation products and services.” (Hertzfeld. H. R chapter. 5) Commercial space is becoming a global trend as more countries are buying into it and expanding their investment in space and the businesses it has to offer. Dating back 50 years ago the US was the only country that bought into space and made millions of dollars of investment in it. Today countries like Europe, Africa: Nigeria and Russia government are investing millions into commercial space and improving their space programs to attract more people and investors.

Europe

Europeans rely on space for many of their services and systems such as those necessary for our wellbeing and security on earth. These services include; travelling by air, navigation systems, conducting financial transactions and using their cell phones. The European government strong believes that space plays a great role in the lives of the citizens and has decided to propose a space policy to improve and withhold the obstacles that might come in the way in regards to their dependence on space and technology. In an article released by the European Commission titled; Enterprise and Industry, the European Space Policy stated: “Europe needs an effective space policy that will allow the EU to take the global lead in selected strategic policy areas. Space can provide the tool to address many of the global challenges