NewSpace

NewSpace refers to a modern approach to space exploration and industry driven by private companies rather than government agencies. It emphasizes innovation, cost reduction, and commercialization, making space activities more accessible and economically viable. Examples include companies like SpaceX and Blue Origin, which develop reusable rockets and cheaper launch services. This shift has accelerated space technology development, enabled new markets such as satellite-based services, and increased opportunities for scientific research, space tourism, and future colonization efforts. Essentially, NewSpace is transforming space from a government-led venture into a dynamic industry with broad participation and commercial goals.