This year promises to be a big one for the aerospace industry. We recently looked at some of the trends we can expect in 2024, so what could be a better follow-up than looking at some of the companies behind these trends?
Below, we’ll look at five startups to watch in the space sector in the coming 12 months.
Relativity Space is a California-based launch systems company. What sets it apart is its focus on 3D printing to reduce cost and deployment time. Its reusable launch vehicle, Terran R, is capable of carrying various payloads to different orbits and can be built and deployed in a mere 60 days.
Considering the current focus on reusability in the space industry, incorporating 3D printing into the mix is an intelligent option.
ABL Space Systems was founded in 2017 to design and develop low-cost space launch systems. Its RS1 launcher is low-cost and transportable and is specifically designed for small satellites. It combines with its GSO launch system, which is built in containers to allow for orbital launches from any flat pad in the world.
ABL claims its launches will cost just $12 million, drastically less than current prices. Considering the growing trend in small-sat launches across various industries, this move could be a game-changer.
Voyager Space Holdings is based in Colorado, but it’s established in numerous locations across the US and Europe. At the most basic level, Voyager is a holding company that funds various space-related missions and IPs. It has a particular focus on space exploration and sustainability, two fast-growing trends in the wider space scene.
Voyager has already made a big name for itself in the aerospace sector through various partnerships with Airbus, Northrop Grumman, and many more.
Astranis has set its sights closer to home. Its overall mission is to deliver worldwide internet connectivity through a large network of geostationary orbit satellites. Within this objective is the goal of building smaller and more powerful GEO satellites that can effectively meet its needs.
With more than $400 million in funding and a partnership with the US Department of Defense, Astranis looks well on its way to launching its four satellites in early 2024.
These companies are just some of the many that will make waves in the coming year. What these companies show, however, is the increasing focus on reusable, less expensive launch vehicles and sustainable fuels.
These are shaping up to be some of the biggest trends in the industry, and they’ll likely have a significant impact on other industries in the following decades. Provided everything goes as planned, we’re going to see some amazing shifts happening this year.
