There’s room, and money, in space

I’m not a space person, you know.

Like, if you were to ask me what’s the difference between a geostationary satellite and a geosynchronous satellite, and which of the two might yield higher returns on investment, I might either ignore you like a panda at a zoo would shrug off visitors or quickly consult a web search engine.

But I need to pull up my socks. For, space travel, which for years has been a privilege extended to only a few superfit pilots, is expected to become possible for even ordinary folk in the not-so-distant future.

Not that I fancy my chances of getting pitchforked into a geostationary orbit any time soon. But, as a business journalist whose beats are aviation and aerospace, I can’t ignore space anymore, given private firms’ determined forays into the field.

Make no mistake, space is on course to becoming a huge market on earth. The “space economy” now makes returnsminded investors drool.

Recent investments in the space sector have been made by renowned companies and space unicorns (that is, startups specializing in space that are valued at $1 billion or more).

For example, Google Inc and Fidelity International invested in US commercial space company SpaceX. Japan’s SoftBank Group Corp invested in another US firm OneWeb. More investments came from smaller enterprises and private investors.

Last year, private investors invested $3.9 billion in commercial space companies, according to a report from investment firm Space Angels, and a record number of 120 venture capital firms made investments in space ventures last year, the report found.

All this would mean, if you are willing to part with $250,000 or up to $800,000 without batting an eyelid, you can buy yourself a space jaunt.

According to a recent report in Daily Mail of London, Bark (www.bark.com) of the United Kingdom, will help arrange space flights as well as in-flight accommodation and entertainment for travelers.

All that has to wait, however, until the first space hotel,