Space Industry to be a trillion dollar industry

 

Elon Musk has the vision to send people to Mars as early as possible. It is a vision that Elon Musk has seen and has also discussed the same with NASA. According to him in case of calamity or natural disaster, there may be every chance of human civilization becoming extinct. Thus to protect the human habitat he wants to relocate people to Mars as well which will be a second home for the human beings.

So to take people to Mars, Elon Musk has decided to charge $200,000 per ticket. However, a bunch of new space entrepreneurs has the desire to make the journey cheaper. Tim Ellis who is the co-founder of Relativity Space said on Wednesday. TransAstra founder Joel C. Sercel also supports such a reduction in the cost price of the ticket.

The process of manufacturing rockets for the Relativity Space is a bit innovative. They use 3D printing method. The co-founder of the company has further mentioned that his company has built the world’s largest 3D metal printer, which it can deploy to manufacture large parts that would generally comprise of many smaller sections. As of present day, it has already assembled an engine consisting of just three pieces in totality.

While the majority of the rockets take about a year to complete, this company has given assurance to build the same in just 60 days. According to Ellis, the costing of a rocket mainly depends on the amount of labor gone into manufacturing. He says that around 80% to 90% of the total cost pertains to labor which can be reduced significantly.

SpaceX is a company which was founded by Musk in 2002. It was the first private sector company which had visualized sending people to Mars. Musk has a firm belief that technology enhancement will pave the way for executing the vision that he has seen. Supporting the plans of Musk, Mr. Ellis has also echoed his concept of taking people to Mars. Ellis even thinks that more and more companies should join hands in their efforts for expanding human civilization beyond our Earth.

The startup which has raised $45 million through funding is almost ready to set up the first 3D print rocket on the Mars. The time that it will take to accomplish this task will also help to make the space industry more lucrative as it will reduce the cost of manufacturing rocket manifolds.