(Bloomberg) -- Since the dawn of the space age, trips into orbit have been expensive and rare. A typical blastoff costs between $100 million and $300 million, and there are only about 100 of them each year—the vast majority of which are conducted by government-backed organizations from Russia, Europe, and the U.S.
In the very near future, though, the cost of getting to space will decline precipitously. A new breed of rocket scientist has arrived with smaller, cheaper vehicles that can be launched every week and—shortly thereafter—every day. These rockets will be carrying thousands upon thousands of small satellites that will take pictures of the Earth, beam down the Internet, and conduct all manner of new experiments. The time when something can be shot into orbit for as little as $1 million is right around the corner.
This new space era promises to change the global economy. A highway will emerge between Earth and space, ferrying immense amounts of goods and data. It won’t be controlled by nations, but rather by private companies located on every continent. And it’s all going to happen—sooner than you think.
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