what can be some disadvantages of commercialization of space
Answers
Answer:
As noted by the United States House Science Subcommittee on Space, three things in particular make space exploration and development a not-so-attractive proposition
Access to capital
Access to capitalIn terms of lack of financing, private capital is still not flowing freely and blindly through to space-based enterprises like it is with internet-, digital media- and hardware-related technology businesses. In 2015, approximately $129 billion in VC funding was deployed globally across 7,872 deals.
Space commercialization is here to stay despite the challenges and obvious roadblocks.
Access to insurance
Access to insuranceThere also is a lack of adequate and secured insurance, which is because of the inability of insurers to see and test the reliability of space-based technologies in the recent past. Few financial institutions are capable of providing space-based enterprises.
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Answer:
The role of government in space exploration is to do the things that the market can’t support, but the people agree are beneficial. When we send a spacecraft like New Horizons to take close up pictures of Pluto, we do so because, as a people, we understand that science is important. We understand that learning about the universe is good for our society. We understand that knowledge has value for its own sake and that we often cannot predict how that knowledge may have additional practical value at some later time. This kind of exploration simply isn’t practical for the private sector because there isn’t a way to, in the near term, make a return on the investment.
Imagine how something like the Hubble Space Telescope would work if it was a product of the private sector. In order to be something worth doing, for a private company, there would need to be a way to recoup the cost and to return a profit sufficient to attract the investors that would fund that cost. So, how does one profit from something like the Hubble Space Telescope? One would have to charge researchers to use it and one would have to sell the data obtained from it. Both of those things would impede the progress of science. The American people (via their representatives) decided that we were willing to each pay $1.60 a year to put this giant telescope in space and operate it so that researchers around the world could use it at no cost and so that teachers around the world could uses its images and data, at no cost, to educate their students, and so that every person could gaze upon the wonders that telescope delivered to us and be marveled by our universe. Over 14,000 scientific papers have been published using data from Hubble. Over 1.3 million observations have been made.
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