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We live in a world that is now built by software. Innovation has three components from which it traverses, wetware to software to hardware. Wetware is our brain where conceptualization begins. This is where creativity combines with function, to form concepts and ideas which are then materialized into existence. After wetware comes the software.
Software has slowly become the foundation of all business models. Every business has a software component which then translates into a service or a product. This reality affects all businesses on earth and henceforth will apply equally to the space sector.
In space, software is even more important as critical analytics and systems need to be built, tested, and established in order to function in the uncertainties contained within space living and traveling. Software will prove to be at the epicenter of the space industry even above and beyond the hardware component. All hardware also first begins its life as a conceptualization of software. With such a critical role, software becomes the denominator to all activities in space.
SpaceTech will be a well defined industry in the coming decade. As space is no longer captured under an umbrella term, the individual components will be assigned labels corresponding to their role in the overall space sector. SpaceTech will be one such industry. It will be one of new space’s largest industries with existing companies and space startups alike granted endless opportunities to innovate and benefit from its growing business models. SpaceTech will be born shortly and we stand ready to support the vast industries it spawns whose limits know no bounds, just like space itself.
