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The space race is no longer just about flags on the Moon — it’s about mining asteroids, building space-based solar power stations, and setting up permanent lunar outposts.
Commercial giants take the lead
Companies like SpaceX, Blue Origin, and India’s SkyReach have drastically reduced launch costs, making orbital missions more accessible. This has opened the door for smaller nations and private players to join the space economy.
Why now?
Two key developments: reusable rockets and miniaturized satellites. Both have slashed costs and made space operations scalable. As a result, satellite internet projects are connecting rural communities from the Amazon to the Sahara.
The resource rush
Asteroids rich in rare metals like platinum and cobalt could supply industries on Earth for centuries. Japan and Luxembourg are among the first to pass laws allowing private ownership of extraterrestrial resources.
Risks and regulations
With opportunity comes risk — orbital debris, militarization of space, and disputes over lunar territory. The UN is now debating an updated Outer Space Treaty to address these challenges.
The vision ahead
By 2035, experts predict space could generate trillions in economic activity. If done right, the benefits could be shared globally, from clean energy beamed from orbit to new scientific frontiers.
