Private company launches and lands spacecraft to and from space

Falcon 9 Pictures, Images and Photos

On Wednesday, a private company called Space Exploration Technologies, or SpaceX, launched a rocket in to space that was carrying a space capsule. TheĀ Falcon 9 rocketĀ then returned to earth with the Dragon capsule and was retrieved. The test flight was deemed a success and although more are planned, it looks like the future of space transport has begun. A while back, President Obama and NASA said that the future of carrying equipment and people into near earth orbit (like the International Space Station and for orbit around earth) will be done by private companies instead of NASA.

When this idea becomes reality and NASA effectively retires from these operations, it will make them consumers of the service and they will no longer be the supplier or provider of it. This will allow them to focus on space exploration like the moon, Mars and beyond. This actually opens the door for even more opportunities than just freeing up NASA’s schedule. This creates a new market where companies and people can learn from and develop innovations for. This will give Americans an advantage that no other country will have for a long time. Russia is currently number two in space and countries like China are trying to catch up as well. However, both Russia and China are unlikely to turn anything having to do with space to private companies any time soon. They are less open than the U.S. and here is exactly where the advantage of an open market system favors the U.S.

An entire industry and then, off-shoot industries will ultimately be created by letting private businesses do the transporting to space. The knowledge base that this will create in the U.S. will be unmatched by all other countries and this can translate in to innovations in totally unrelated industries. New products will be developed from this knowledge and it can encourage students to study science and technology in school which would create a positive circle of knowledge and innovation. This is one of many areas where allowing the free market to operate can do great things for the future.