to governments, the private sector has picked up in recent years. we'll go over who the big players are and what they hope to accomplish. and later the list of nations with their eyes set on the stars continues to grow. we'll talk about what the future holds with the pac show today. so let's dive right in. and like nearly every industry, the space sector was hit, hard by the coven, 1900. pandemic, with missions, years in the making, having to be delayed. but with that being said, the 2nd half of 2020, and the start of 2021. have been a pretty compelling time for the space industry. both from private companies and governments are to correspond it side temperature joy this now to discuss these recent exciting accomplishments. sire sir brand was going to space in 2020 did not go as planned. a few missions did had some significant new milestone. first, in july 2020, the united arab emirates launched hope, which became the arab world, 1st the mission to another planet. now that mission will build

a complete picture of mars's climate and helping scientists better understand what mars was like when it's admirable fear could have supported life. now also in 2020 of july their peers, severe ends rover was launched by nasa on their mission to seek signs of ancient lived and collect samples of rock for possible return to earth. and july was apparently a big month for space. the chinese tea on when one mission entered orbit around the red planet, making this try another 2nd space mission. but the 1st that attempted without any international partners. now, all of those, the 3 missions reached martian or a bit in february of 2021. now the fast forward a few months to november of 2020 a crew dragon capsule carried 4 astronauts into space from the kennedy center in

florida. now setting off on a 27 hour pursuit of the international space station on spaces x 1st operational crew rotation flight to the or a bidding outpost. now this mission, also march space x is 100 successful flight to orbit, but not all of space. x is launches, have been successful now. the next part of the prototype of 2020, named as an 8, took to the air for several minutes in december before flipping around and eventually exploding upon landing. now, while their prototype didn't stick to the landing, it did last through several areas. maneuvers now. we've also had some pretty big milestones into 2021. now, earlier this year, brazilian earth observation satellite soar to sprayed aboard a indian rocket along with 18 passenger satellites from the u. s. and india. now this marks brazil's 1st independently designed build and operate

a satellite. then we had another failure for space x, the starship s and 10. a spacecraft touched down successfully after a hall high all to to test flight, a major milestone for the company. and it's crude mars ambitions, but the vehicle didn't manage to hold itself together. exploding about 8 minutes after landing. lastly, china's new along march 7, a rocket launched its 1st orbital mission after its 1st attempt one year ago. and then with a failure brent r t correspondent, science avager. thank you so much. and where we use the term space race, most of us think back to the united states and the soviet union rushing for dominance in outer space. what we should now think of is the race between private companies attempting to be the 1st to offer space exploration and public boom bus.

co host ban swan explains for britain, there are essentially 3 major private space companies that are competing in this arena. we're talking about, of course, eli mosques, space x, just a zone is blue origin and sir richard branson's, virgin galactic. the real question though, is just how far can these private space companies push each other as they compete? well, let's start with what each of these companies is focused on right now. blue origin plans to deliver moon gravity style emissions on space flights much closer to earth . starting in 2022. the company plans to meet a long standing need to simulate lunar gravity. that would be $16.00 of the earth's for larger payloads and for longer periods of time than the current options. now the big setback for the company however, is it's new glenn rocket program. the launch date for its massive, reusable rocket had been 20. 20. the company now admits that new go and won't be launching until at least a 4th quarter of 2022. or let's move to virgin galactic. as of december of last

year, the company landed a major contract with nasa. virgin galactic has been selected to provide regular access to flights for nasa payloads. as the space agency conducts more research and development and plans for future exploratory missions, the virgin, lactic has also has some big setbacks to with spaceship to sub orbital vehicle. the company says it is delaine the next test by the bad vehicle, by more than 2 months to address technical issues. in addition, part of a revamp flight test program will postpone flights of space tourist until at least 2022. and then there is space x arguably the best known and so far, most successful, private space company. in fact, just last weekend, the space ex falcon line rocket launched a new batch of 60 star link internet satellites into orbit early sunday, and then nailed into landing se to top off a record setting mission. by the way. starling is a satellite based internet constellation in tended to blanket our planet in high

speed broadband. the goal of the project is to bring internet connectivity to the billions of people who still lack reliable internet access. the idea requires swarms of satellites operating in low earth orbit to provide continuous coverage. but let's go back to space x because nasa is also working with space x to launch a 2nd commercial crew rotation mission to the international space station. it didn't streamline bit deal as nasa's space x crew to mission will carry astronauts from massa and the essay. the european space agency aboard a crew dragon spacecraft. launching a top of falcon 9 rocket on its way to the space station. the mission is scheduled to lift off no earlier than april 20th of 2021 at nasa's kennedy space center in florida. so all of this raises the question, why is it nasa doing this themselves? so actually nasa is working with these companies, but also reaping the reward of allowing private companies to bring down the costs of space exploration by competing for nasa contracts that allows nasa to invest in

other areas of space and utilize innovations that taxpayers are having to pay for this kind of investment is also good for companies that look to improve satellite service. in fact, as space companies embrace greater efficiency and more commercial applications, the global space industry will continue to grow and just a couple of numbers to keep in mind. here, morgan stanley has said that the global space industry could actually produce revenues of one trillion. that's one trillion dollars by just the year 2040 right now. current estimates for global revenues, roughly $350000000000.00 for whom bust i'm been swan. let's dig deeper into the private space industry with boom bus. co host christy i and erin pagan, he's an adjunct professor of strategy and economics at depaul university where the focus in space commercialization. thank you both for being here now aaron, i want to start with you, and this is the most simple question. when we talk about the private space industry,

what is the motive vacation behind private space companies like space ex, blue origin, and virgin galactic? why are they doing all of this? well, private launch companies like through your mentioning and many others are just trying to lower the cost to space so that we can fully develop the earth space. army. lower transportation costs means it will be easier to develop or will infrastructure that can eventually make space launch a primarily human transport industry rather than cargo and human. but i want to clarify, when i say eventually, i mean this is going to happen. it's gonna take a long time longer than 20 years, right. but we're constantly moving towards that goal. and the ultimate motivation is to enable other types of economic interactions off planet. and christy, when we talk about the big bucks involved here, we just heard been say that this is going to be a trillion dollar industry by 2040, according to morgan stanley. now, how exactly are these companies going to make this profitable? because i feel like so many on lookers see this says it's really

a vanity project for some of the world wealthiest people. i said 2 things working for you here in declining cause on the supply side and increasing demand on the user side. so today has development of these we use will rockets that are providing a turning point in the industry. so these are useful rockets are kind of like an elevator to low earth orbit and they're the key to access of lowering costs. so space actually basically shows the global marketplace with a low cost and unprecedented launch rate of its falcon, $9.00 rockets, where historically rockets that launch satellites and other much a password hon and the boosters were discard into the oceans after each lunch. so the lower cost, the space rocket had now created new opportunities for what you can launch. and they're also new competitors like blue origin who are creating this whole ecosystem of launch vehicle providers that are servicing lower end of the market, cheaper solution. so the reason rockets will help to drive the cost of launches down, as well as a mass production of satellites. currently, the cost to launch a satellite has declined to about 60000000 from 200000000

b as the locket. and there's a potential to drop as low as $500000.00 with economy to scale and mass production . so now on the demand side, we have the entire space industry likely to impact a number of industries including aerospace and defense hardware and telecom services. so the most significant opportunity may come from satellite and broadband internet service and a foreign morgan stanley here the satellite broadband will represent about 50 percent of the projected growth of the global space economy. and launching the satellite will help to drive down the costs of data just in time when demand for high speed data and access and storage costs explodes. so there's going to be an increased demand for broad bandwidth from a thomas cars i o. p devices, artificial intelligence, virtual reality, and of course, more video streaming. aaron, to christy's point, i apologize, i didn't prep you on this specifically, but when we talk about broadband, satellite internet specifically is space x best poise to make this profit early

because they're, you know, getting started on their star link internet constellation. is that going to be a big boon for their, their bottom line to help them push this even further? absolutely, i mean, we're talking about talking to industries that are highly, that are commodities, right? like we're talking about transportation and communication technology, which are there's a lot of demand for that and having a vertical industry that can one, you can get space really cheap on your own. then you know how to manage it. you manufactured us, those vehicles, the operation of it as well, and then you're operating these satellites and can manage your own schedule and really be in control of all that which a big issue of the launch industry is just making sure that we have enough launch capacity and space ex can control for that. so yeah, it puts them in a really good leading position by having access to this vertical ecosystem and air and what's the future of private enterprise width space? exploration and commercialization is the handful of companies that we see in the

space. it's currently just the tip of the iceberg, or are these the only people crazy it up to actually go for this? you know, to christy's point there's a lot of pent up demand for launch passes. so there are hundreds of startups looking to get into this game. 100 of launch starts, i should say. but you know, what's going to happen is we're going to see the consolidation to 3 or 4 major firms. you know right now, as i said, space launches are really vertical, iced it vertically integrated industry with manufacturing operating. eventually we'll likely see the scenario where operation and manufacturing might become separate like airlines or railroads or oceanic shipping. right? but again, this is also going to happen in a lot of a very long time from now. at the moment, there are hundreds of firms engaged in a whole host of product and service development that is not launch and will ultimate rely, rely on cheap, consistence and safe access to space. so with that in mind, there's plenty of room for

a more startups to try and meet that demand. and now kristi something we talk about on the show all the time. there's actually a lot of talk about how block chain technology can be used in space. in fact, j. p. morgan actually tested block chain payments in space. thing quote, nowhere is more decentralized and detached from the earth than space. tell us about the significance of this test and where the future holds for the technology in the space sector. yeah, this is a very cool experiment. and j. p. morgan has the block chain payments between satellite orbiting earth and basically the test ultimately show that block chain technology could power payment between every day objects autonomy lee. so by carrying out this experiment in space validated the approach towards a centralized network where communication with the earth is not even necessary. so, blocking network created between 2 satellites and token transfer without any sort of communication with the earth, which is basically the calling of what we've been saying, of doing a peer to peer transaction on earth. what we do with block hang with the network

without the use of any form of payment form or middleman like paper or ben. so the idea is now to explore i o t payments in a marketplace where satellites would send each other data in exchange for payment as more private companies launch their own devices in the space. and we often hear the word i o t a lot. we're physical devices are connected to one another, embedded with sensors or software that can share data, things like amazon echo or google home smart frigerator. and examples of these i ot payments would be your smart fridge ordering and paying for milk or self driving car, paying for gas. and what we said earlier, satellite technology could be the key to power unblocked when you have companies like blocks stream the 1st to distribute bitcoin blocks be a satellite or space chain which logged to block chain enabled satellite payloads into orbit, which allow for transactions without ever touching the internet. so i think government and financial applications will be the 1st 2 adults based blocks and other industries with more sensitive data and a lot of remote sites that need to get information from different sources. could

also be good candidates. basically it allows for companies to upload their data and bypass the existing terrestrial networks that we currently use to talk to data centers. and this will eliminate dependents on this infrastructure which will remove a significant mobility for data breach boom bus. co host christy i and air intake. i can, we can talk about this all day. we'll have you both back to talk more about that in the near future. thank you both for your time. thank you. thank you and time now for quick break, but hey here because when we return, there was quite a time when just 2 countries dominated the space race. but now the list of nations with their eyes set on the stars continues to grow. the prices are going up and people are mentioning this that the prices for energy, food, transportation are going up at

a alarming rate. and the government is telling us bad. don't believe your eyes that that's some places and people are starting to question whether or not their governments might or might not be out of their money. the segregated all along. all right, social class, last class, people also and poverty by 1st name. if you're born in 2 of 4 family, you're born into a minority family. if you're born into a family that only has a single parent that really constrains your life, chances people die on average. 15 years old, you're born as a generational poverty. this is a fight every day to meet your needs and the needs of your family.

me the is your media reflection of reality in a world transformed what will make you feel safer? tyson lation community. are you going the right way? or are you being that somewhere direct? what is true? what is faith? in the world corrupted, you need to descend, ah, in the and welcome back. as we mentioned earlier in the program, there was

a time when aspirations in space were dominated by just 2 countries. the united states and russia, but today the list of countries with space programs continues to grow. as the moon once again becomes a target of both lunar exploration and political competition. r d correspondent john hardy has more for more than 2 decades, the international space station has really been a symbol of international cooperation with among others, russian cosmonaut working alongside american astronaut in orbital harmony. and while the consummate cooperation continues aboard the ss on the ground here on earth, well, it's a different story. there is a growing divide between governmental space programs vying for new technology. satellite dominance and soon lunar exploration. russia and china had signed various agreements to begin working together on space projects, including setting up a scientific station on the moon,

perhaps signaling the end of us and russian space relations. and the beginning of a new era of competition with china and russia over returning to the china plans to have more than 40 space launches this year alone, while constructing the country's 1st space station as a main priority. but the u. s. certainly isn't going at it alone. the u. s. established what are called the art of miss accords. a series of bilateral agreements with other countries, space agencies, including australia, italy, japan, the u. k. and the united arab emirates, the european union, has pledge to pursue a more aggressive european space plan to prevent china from out maneuvering and out muscling the us and its partners while creating a more independent program of its own. across the world, the united arab emirates made history recently by becoming the 1st arab nation to send the spacecraft into the marsh orbit for a 2 year mission. saudi arabia plan to add another $2000000000.00 to its own space

program by 2030 and what has become a middle east space race of its own. saudi arabia is one of the main founders of arab set, the arab satellite communications organization, which it has a 37 percent stake in. israel also continues to bolster its own space program, its own technology and research. and the iranian space agency continues to launch satellites into orbit. the u. s. is raise concerns about runs potential military goals, using rockets to be repurposed as long range missiles and also runs enhance space reconnaissance capabilities. it's a cosmic stew of competition between countries spanning the globe in the race to space, but the u. s. still leads the charge in the race to mars. and in yet another historic achievement, nasa's perseverance rover continues to feed back images and even sound from the red planet. 150000000 miles away. for boom,

bust john hardy. for more on this, let's bring an rick term and thin founder of space fund, the space frontier foundation and earth light foundation. how do you have time to be such an efficient? not on space. we have so many foundations, rec, i start by talk to you about some of the destinations for space programs, as we just heard from john, how do you there russia and china have signed an agreement to work together on a scientific station on the moon, while nasa plans the land, the 1st woman and the next man on the moon by 2024. what's the significance of returning to the lunar surface? well basically you know, there's, it's like an island of sure it's, you know, it's, it's close enough where we can get back and forth fairly quickly. you know, couple of days, 3 days. but it also allows us to sort of learn how to operate

on a world. so, you know, it's, it's big the radio show you've got back, you the nasty dirt if you can handle that and learn how to operate there, then you can pretty well go anywhere. did we do a disservice by kind of i don't want to say abandoning the space program because we certainly didn't do that. but you know, it's been nearly what 50 years since the last time anyone landed on the moon. so was that a disservice to the ambitions when we talk about moving towards mars and something like that, by stopping those missions? yeah, i actually do think it was into service. i'm. i'm part of the generation that, you know, you can either call us apollo children or a orphans of apollo, which is a nice not commentaries on my recommend. is that i think, you know, there was a goal. kennedy had a goal of beating the soviets taking perhaps what you might call the most expensive selfie ever. which would basically we're here, you're not ha, with

a better system. but the problem is there was not a lot of plans as to what to do. it is like, you know, the old question if the dog catches the car. and so a lot of us don't know what we want to do with it. and we have been working in our various different ways to sort of open that up and make it something that people can go to that you can go to, i can go to children can go to. so we're getting back on track now. and it things really use the word taking off earlier this year we'll talk a bit about 3 missions we've seen tomorrow recently by the us, china and the u. a. and we actually heard quite a bit about, you know, studying ancient life or what might have been. but meanwhile, the basics actually hoping to watch the 1st man commission to the red planet sometime between 2024 and 2025th. you know, why have, we always had that fascination with going to mars it just that it's the next closest body in the,

in the solar system. everybody's got their destination. they want to go to in space. you've got the moon people, you got more people when you got what i call which one rotating habits face itself. i think that. ringback on and folks who want to go to mars, i think underlying it, i got to tell you, i think it's because it's got a sky. and it seems the most earth like of the destination. but, you know, we're, we're going to be able to go anywhere eventually in the solar system. i think we're going to find some other places that we can call home. and to me, that's the key. it's all about. settlement exploration is just the 1st step. and on a broader scale, rick, you know, why are we seeing so many nations bolster their space programmed? now we're at one point, it was all about just 2 countries. is this being pushed by that private space industry that we've talked about so much there in the beginning of the show?

yeah, i think there's one of those cases where people are different leaders in the world are starting to realize that this is important. and you know, it's almost like in the old old age ration that people are starting to understand the implications of the fact that we're sitting in a bath solar system. amazing, amazing capability to create by going out into it. and they're just starting to, to, to get on board and then, you know, they look over their shoulder and they say potential political enemy or somebody. and they begin to go wreck tomlinson. unfortunately, we are out of time, we could spend hours talking about this as we said earlier, founder of space, fun space, frontier foundation and earth light foundational. have again soon. thank you so much. and that's it for this time, you can catch boom bus on demand on portable tv, which is available on smartphones and tablets. your google play in the apple app

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