TECHNOLOGY
What Technologies Are Driving the Space Race?
The growth of the space industry represents the convergence of simulations, material sciences, and additive manufacturing (as well as the democratization of space technologies, the impact of NASA papers, and private equity funding, but that is a discussion for another time). High-performance computing makes simulations faster, more frequent, and with higher resolution than before. These advancements not only lead to better designs but also improve the manufacturing process, leading to greater confidence in the first part off the manufacturing line. This is crucial for space, where volumes are still low. Lighter-weight structures are made possible by composites, and additive manufacturing processes help to determine the most efficient flow paths for nozzles. From design to manufacturing, digital iterations through simulation form the foundation for strong and reliable physical parts. This is an exciting time for manufacturing space components.
INTELLIGENCE
Space Industry Valued at $445 Billion and Growing
The space sector is undergoing a transformative period driven by technological advancements and significant private sector investments. The cost of manufacturing, launching, and operating satellites has plummeted, thanks to innovations like reusable rockets and the miniaturization of satellite technology. In 2022, according to Bryce Tech, the space industry set a record with 186 successful rocket launches, highlighting the rapid pace of growth and the potential for manufacturers to capitalize on this momentum.
According to the Space Foundation, the global space economy was valued at $445 billion in 2023 and is poised for further expansion. Companies like SpaceX are leading the charge with ambitious plans and investments. SpaceX alone raised approximately $2 billion in 2022 to support its initiatives, including 87 rocket launches, moon exploration projects, and the expansion of the Starlink internet service. As the space sector continues to evolve, manufacturers have a unique opportunity to innovate and align themselves with the significant investments being made by players in this nascent industry.
SMARTFORCE
NASA’s Artemis Program Shines at Smartforce Student Summit
NASA’s Artemis program made a second appearance at the Smartforce Student Summit at IMTS 2024, captivating attendees with its ambitious vision. The exhibit revealed the space agency’s plans to establish a lasting presence on the moon and pave the way for missions to Mars. Thanks to the ongoing commitment of IMTS to produce the Summit, thousands of student visitors interacted with NASA representatives to better understand how advanced manufacturing technology plays a crucial role in building and maintaining the mission-critical supply chains and components that are essential for these groundbreaking endeavors. The event energized students and educators with a glimpse into the future of space exploration and the technological innovations driving humanity’s next giant leap.
ADVOCACY
Next up: Congress Tackles Spending
Congress reconvened in September, passing a stopgap spending bill on Sept. 25 to avert a government shutdown. The bill extends federal finances to Dec. 20, expiring after the presidential election and during the lame duck period of President Joe Biden’s term. This could result in Congress passing funding bills for 2025 or another short-term bill that will fund the government until after the next president is inaugurated.
The next Congress and administration will address national security and competitiveness issues that impact your business, including appropriations, the expiration of the 2017 tax cuts, supply chain sustainability, and geopolitical unrest. It's crucial that the candidates running for office understand the importance of manufacturing technology in addressing these issues. These weeks before the election are an excellent time to engage with candidates running in your district, state, and national races. Ask them about their stances on manufacturing issues.
INTERNATIONAL
Wings of Change: International Advances in Aerospace Manufacturing
Space is a global business, and business is booming. According to the Space Foundation, 2023 saw the global space economy reach a record-breaking $570 billion. That is double what it was a decade ago and is being driven by steady private and public sector investment. The new frontier, indeed.
Well-entrenched key players like SpaceX, Boeing, Lockheed Martin, and Blue Origin are in the United States. Perhaps lesser known are Thales, ISRO, Rocket Lab, and CASC from Europe, India, New Zealand, and China, respectively.
With such a field of competition, where should you turn to take advantage of this sector's growth? Three countries are emerging as significant players in the global aerospace manufacturing landscape – India, Mexico, and Vietnam – due to strategic advantages such as cost-effective labor, favorable government policies, and a growing expertise in advanced manufacturing.
AMT has offices and tech centers to service these three countries to assist our members in establishing sales. Visit AMTonline.org/products/mt-tech-centers to take flight and bring your business to new heights.
To read the rest of the Space Issue of MT Magazine, click here.
