TIP Volume 9 Issue (original) (raw)

The space sector has grown dramatically in recent years and is now seen as an important growth engine for the global economy. Tourism, mass and mega launches, moon, mars, asteroid missions, and deployment of the Webb observatory were highlightes in 2021. The year 2022 promises to be yet another fantastic sign of the private sector expanding its hold over modern space and enabling Space Industrialization to progress. The year-on-year global payload deployments increased by 29%, fourteen civilians experienced space tourism, ushering in a new age of space exploration, and international launch attempts reached a record high of 145, mainly owing to SpaceX's Starlink and OneWeb missions. This is unprecedented, and there has never been a more exciting or better time to be part of the global space ecosystem. Influential commercial factors, evolving technologies, and human imagination are driving the new space sector to completely unexplored heights. Furthermore, the explosive growth of the space industry has resulted in large-scale entrepreneurship and exceptional start-up culture.