How Can Space Assets Help Your Non-space Business

Posted by in Business & Entrepreneurship, Leadership & Management, Science & Technology

Space exploration is an industry of its own with cutting-edge technology and extraordinary development. At least, this is the perception that is had of the space sector, as something distant and separated. However, the innovation that occurs in this industry and many of the tech tools used for and within this field can contribute a lot to other businesses and help them become leaders in their field. The space sector offers unique opportunities in terms of Earth observation, satellite communication, navigation, and much more that can benefit even the most grounded organization. Building partnerships within the sector can create new opportunities for everyone involved.

The space sector does not focus entirely on itself. It collaborates successfully with industries like telecom, agriculture, insurance, oil and gas, smart appliances, defense and security, and many more. The sector has a worldwide impact, growing mindshare, and implications across domains.

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What Can the Space Sector Contribute?

At the moment, there are many markets that are growing so fast, it’s difficult to meet the demand for the mobility segment, connectivity, and more. Meeting these needs often requires support from satellite technologies, the internet of things, 5G, and other new technologies that the space industry can provide. It can serve as a way of accessing content and services, increasing capacity, and creating a new space-based infrastructure with lower costs.

This is not the only example of collaboration and downstream applications of the space sector. In regards to data, for instance, space-focused organizations can support scientists and entrepreneurs in building new applications and services. The space sector has access to a lot of data and data analytics, not just for other planets, but also for Earth. It engages in environment monitoring that can serve a wide variety of fields. Essentially, the space sector has data, technology, and assets, and it’s eager to share them with other organizations.

Emerging Technologies

Several growing industries within the space sectors offer exciting new possibilities across the board. Nano-satellites, high resolution and very high-resolution data, and high altitude platforms are just some examples of technological contributions originating in this field with a lot of potential applications elsewhere. Sat nav data, for example, is in demand with a lot of different user groups, and real-time positioning can help a lot of industries reduce costs and increase productivity. Collaborations with the space industry also can increase the prestige of an organization. Generally speaking, space-focused institutions have a lot of recognition and are seen as reliable and trustworthy. Space tech means good tech, and there is often something appealing about the idea of collaborating with space exploration.

Information Sharing is Essential

It’s important to understand this technology and the possibilities it offers. This falls on both the space and non-space fields. One needs to popularise and make their information more accessible, but other companies can also be proactive in seeking opportunities, applying for programs, and doing more to engage and learn the right information.

At the moment, each space agency and industry offers its own opportunities for learning and partnering. They have websites, webinars, courses, and more. The problem is that it is often too technical or too specialized, at least, it appears to be so from the outside. Communicating the information in a better, more accessible way, explaining the benefits and the workings of available technology as applied to specific fields, developing a stronger presence in the business world, and creating informative content directed at this target specifically could be a way of improving the situation. At the moment, the space sector and non-space businesses across all fields can accomplish a lot together.

It’s Not All About Astronauts

Becoming involved with the space industry and joining new partnerships doesn’t mean suddenly changing your business’ focus or contributing to space technologies directly. It can involve learning more about the applications and the tools it offers for your area of focus specifically. You can employ tools that will enhance your employees’ work and make your whole setup much more modern and even high-tech. The data the space industry has, its tools and technologies, and the opportunities it offers for collaboration are unique in a lot of ways, but primarily in how they can help you use state of the art technology today.

New Partnerships Mean New Opportunities

At the moment, the space sector collaborates with plenty of companies, but there are so many more that don’t even consider such a partnership. They view space assets as something very specialized or not practical. Many see space as “rockets” and not much else. Considering this, it’s important to raise awareness and bring more non-space companies into the fold. This is a highly beneficial strategy. For space agencies, it creates new opportunities, brings in more value, and creates new networks. For other businesses, it promotes the integration of cutting edge technologies, growth, and additional revenue. It can even benefit society by helping test and implement new solutions and assets. There is no losing side here.

Conclusion

At the moment, the space sector and organizations across fields can collaborate to achieve amazing new results. It is very important to create these partnerships in order to boost technological integration, develop new opportunities, gain more revenue, and improve society through innovation. While the space sector remains somewhat isolated, it’s time to change this situation through an effort on both sides.