NASA has long been a leader in space exploration, and now they are set to repeat history with their upcoming Artemis missions. These missions aim to put a human on the moon for the first time since 1972. Unlike past missions, NASA is partnering with private companies like SpaceX and Firefly Aerospace to achieve this goal.
SpaceX, founded by Elon Musk, has already revolutionized space exploration by introducing new commercial possibilities. In 2023, the company successfully launched 96 missions, with one rocket launch occurring every four days. Firefly Aerospace is also working with NASA through the Commercial Lunar Payload Services initiative, which aims to establish reliable transportation to the moon for supplies and research. Later this year, Firefly will attempt an unmanned lunar landing with their Blue Ghost spacecraft, supported by a $112 million contract from NASA.
While both SpaceX and Firefly are collaborating with NASA on these missions, they are also looking towards increased commercial opportunities in the space industry. The sector is projected to grow to $1.8 trillion by 2035, and both companies aim to position themselves as comprehensive space transportation companies. SpaceX plans to manufacture rockets and develop orbital vehicles while Firefly will develop landers like the Blue Ghost in partnership with Northrop Grumman.
As we look towards the future of space exploration and commercial opportunities in this sector, it’s important to stay ahead of the curve and understand what lies ahead. Yahoo Finance’s NEXT series explores these developments and highlights companies making significant impacts now that will shape tomorrow’s landscape. Stay tuned for more insightful analysis and market developments on Yahoo Finance Live.
