June 8, 2023

Dubai Week

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We will launch commercial manned spacecraft in two months

We will launch commercial manned spacecraft in two months

In an interview with Al Arabia, Tejpal Patia, CEO of Axiom Space, the start-up that will build the first commercial space station, confirmed that the future boom in the space industry will be similar to that of the Internet. Technology explains why investments in this sector are no longer under the protection of governments.

The company wants to build the next International Space Station, but we describe it as the first commercial space station, and it will remain connected to the current International Space Station until it retires from service, he said.

He explained that the new station would be the first of its kind in commercial orbit, describing the great demand for this type of spacecraft. Stations currently through Venture Capital Or it could be a big change in the industry and the market as a whole.

He said the aerospace sector has historically been controlled by governments, which means that the flow of finance and investment in different ways than it is now, with respect to venture capital investments, they have been working on projects for seven to ten years. To generate returns for founders and shareholders and to create value for this investment.

He anticipated a boom, such as the rise of the Internet and technology, and found that there was a huge boom in the industry by shifting capital to it, so “let’s see in the future what the investment in space will bring. The sector.”

There are three main sectors that will generate revenue by building the International Trade Center, the first of which will be spacecraft. We plan to send planes once every six months for this flight to the International Space Station to stay in space for ten days.

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He added that “Axium Space” will begin with a voyage to the International Space Station, followed by voyages to the Axiom International Station, and that astronauts will join tourists on these missions to countries where astronauts are to be sent internationally. Station.

Commercial Space Station

“Axium Space” will be the second sector of revenue for the business, which will be for the media and advertising sector in space, and the third sector will be for the research and production sector, which will come under the pharmaceutical sector. We can use it to force space, to produce objects in space, even on Earth or in space.

Explaining that Axiom Space is an example of this, he expects the space infrastructure sector to be the largest investment sector in the future. This sector, and that includes communications, housing or livelihood support, of course transport, and we are starting to see huge investments in these sectors.

He hoped that the next phase would be investments in equipment and software, which would pave the way for the creation of platforms for the sector, which would receive large investments, of course, with research, development and production playing a key role but infrastructure being the primary and fundamental.