Financing the New Space Industry

This Palgrave Pivot investigates the efforts of five aerospace companiesSpaceX, Blue Origin, Virgin Galactic, Orbital Sciences, and the Boeing Companyto launch their entry into the field of commercial space transportation. Can private sector firms raise enough capital to end the usual dependence on government funding? What can historical examples of other large-scale transportation initiatives, such as the first transcontinental railway and the first commercial jetliner, teach us about the prospects of commercial space flight? As Howard E. McCurdy shows, commercializing space is a great experiment, the outcome of which will depend on whether new space entrepreneurs can attract support from a variety of traditional and nontraditional sources.

Compares new space investment strategies to earlier ambitious projects from the history of transportation Examines the challenges of attracting financial support from an appropriate mix of traditional investors, government agencies, and motivated individuals Appeals to scholars, students, and practitioners interested in space exploration, the history of science and technology, entrepreneurship and innovation, astronautics, finance, and public-private partnerships

Auteur

Howard E. McCurdy is Professor in the School of Public Affairs at American University in Washington, D.C.

Texte du rabat

This Palgrave Pivot investigates the efforts of five aerospace companies SpaceX, Blue Origin, Virgin Galactic, Orbital Sciences, and the Boeing Company to launch their entry into the field of commercial space transportation. Can private sector firms raise enough capital to end the usual dependence on government funding? What can historical examples of other large-scale transportation initiatives, such as the first transcontinental railway and the first commercial jetliner, teach us about the prospects of commercial space flight? As Howard E. McCurdy shows, commercializing space is a great experiment, the outcome of which will depend on whether new space entrepreneurs can attract support from a variety of traditional and nontraditional sources.

Contenu

1. Introduction: The View from the Mezzanine in Kent, Washington.- 2. The Dream of Commercial Space Flight.- 3. Financing Privately Developed Transportation Schemes: Precedents from the First Transcontinental Railroad.- 4. How Corporate Executives Approach Business Decisions: Financial Planning for the Boeing 707 Jetliner.- 5. Five Case Studies.- 6. Boeing: Pairing Commercial Work with Government Contracts to Reduce Risk.- 7. SpaceX: Leveraging Government Support to Raise Private Capital.- 8. Blue Origin: The Entrepreneur as Philanthropist.- 9. Virgin Galactic: Promoters and Prizes.- 10. Orbital Sciences: The Challenge of Breaking Away from Government Contracts as a Source of Revenue Flow.- 11. Other Methods of Government Support.- 12. Reflections and Summary.